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UN’s resident coordinator shares insights on importance of ESG standards in Azerbaijan

BAKU: The United Nations is fully committed to supporting Azerbaijan's chairmanship of COP29 and engaging with all stakeholders to spur action to tackle climate change, the UN's Resident Coordinator in Azerbaijan Vladanka Andreeva said at the ongoing ESG Summit: Public Private Partnership (PPP) for Sustainable Development Goals (SDG) in Baku, Trend reports. She mentioned that today's meeting in Baku was organized with the support of UN entities and the PwC company. "Our objectives for this event with PwC are clear. It is to promote dialogue and cooperation, and we aim to create an environment where public and private organizations can share ideas, strategies, and best practices in ESG," Andreeva stressed. According to her, it's crucial to shine a spotlight on successful public-private partnership (PPP) models that would really make a difference in sustainable development and take them to the next level. "It is also important to understand the challenges and barriers to implementing innovative solutions fo r shaping PPP for sustainable development," Andreeva said. She believes it is crucial to bring all the stakeholders to the table - government officials, business leaders, civil society organizations, and academia - for fruitful discussions. "As part of the discussions on PPP and ESG, it is necessary to stimulate the adoption of specific commitments to achieve the climate goals set at COP29 and beyond," the UN Resident Coordinator in Azerbaijan noted. She also referred to the importance of understanding ESG standards, conducting training on ESG reporting, and supporting the development of individual ESG strategies for this purpose. "Our ultimate aim is to create an ESG community in Azerbaijan, ensuring long-term commitment to ESG principles and practices. Because integrating ESG practices is not just about compliance, but also about value creation, risk management, and measures that contribute to creating a green and sustainable future for all," Andreeva added. Source: Trend News Agency