SMB

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The role of SMBs in the Transition to the Green Economy Within the framework of COP29, a panel discussion was held on the topic “The Role of SMBs in the Green Economy” KOBİA and the "Invest Bulgaria" Agency to collaborate Within the framework of COP29, the documents for collaboration were signed to support the green transition of SMBs Representatives of the International Trade Centre (ITC) paid the visit to "Baku SMB House" A conference was held regarding the presentation of unified platform and the national standard for ESG A national standard on Environmental, Social, and Corporate Governance (ESG) has been adopted "KOB FEST" exhibition-sale fair held in Khachmaz A business plan – the key to successful and sustainable business "From Us to Business" startup competition is underway

A document signed to promote corporate sustainability and the UN Global Compact in our country 22.10.21

On October 22, the UN Office in Azerbaijan arranged the event “COP26 – securing brighter future for all”, dedicated to UN Day and the UN Climate Change Conference (COP26) to be held in Glasgow. The event was attended by representatives of government agencies, diplomatic missions, civil society, and the private sector.

The Small and Medium Business Development Agency (SMBDA) also participated in the event, which discussed the role of governments, civil society, and the private sector in combating climate change. Speaking at the event, the chairman of the SMBDA Board Orkhan Mammadov noted that the Agency attaches particular importance to enhancing the role of SMBs in the "green economy" and actively supports initiatives in this field. It has been noted that the SMBDA’s SMB development centers provide relevant training and consulting services, support the participation of companies in various domestic and international fairs and exhibitions on “green energy”, recycling, and closed-loop economy. The grant contest held by the Agency provides for financial support for implementing initiatives in the fields of development and application of "green technologies", saving fuel, recycling, waste-free production, etc.

At the event, a Memorandum of Understanding on promoting corporate sustainability and the UN Global Compact was also signed between the Small and Medium Business Development Agency (SMBDA), the Entrepreneurship Development Fund (EDF), and the UN Office in Azerbaijan. The document was signed by the chairman of the SMBDA Board Orkhan Mammadov, acting chairman of the EDF Board Osman Khaliyev, and UN Resident Coordinator in Azerbaijan Vladanka Andreeva.

Under the document, the relevant agencies will intensify joint efforts to promote corporate sustainability and the UN Global Compact among local entrepreneurs and take appropriate measures in this area. Cooperation provides for informing entrepreneurs and business associations of corporate sustainability and the UN Global Compact, integrating the social, environmental, and corporate governance principles and the UN Sustainable Development Goals into the activities of relevant organizations, improving the skills of their staff in the appropriate field, considering international best practices, etc.

The chairman of the SMBDA Board of Orkhan Mammadov: “The Agency attaches particular importance to promoting sustainable development, enhancing the role of businesses in the “green economy”, and expanding the introduction of corporate governance principles. The program, implemented jointly under the memorandum, will form a new experience in promoting corporate sustainability and the UN Global Compact in our country”.

Note that the UN Global Compact, bringing together 12,000 companies and 3,000 non-profit organizations from more than 160 countries, as well as more than 60 local networks, is the world's greatest corporate sustainability initiative. This agreement calls on companies to bring their strategies and activities in line with appropriate principles and contribute to the UN 2030 Agenda for Sustainable Development.