SMB

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The most active entrepreneurs of 2024 have been awarded A citizen reception was held at KOBİA Results of the 6th grant competition announced for financing projects by SMB entities have been disclosed A memorandum on the green transition of SMBs signed between KOBİA and the Asian Development Bank Business forum conducted within the framework of the project "Increasing attractiveness of the Shamakhi district for private Investments" New Startups Contributing to Digitalization The 9th "KOB Fest" exhibition -sales fair is underway in Göyçay With the support of KOBİA, Azerbaijani entrepreneurs' products were showcased at the "MÜSİAD EXPO" and "Halal Expo" exhibitions Yet another meeting of the sub-group on Environmental, Social, and Corporate Governance (ESG) standards was held 8 more SMBs have received the "Startup" certificate

What should green business be like? 25.10.24

The state standard for "Green business management systems” developed with the initiative and support of KOBİA is a useful document for entrepreneurs seeking to transit to a green business model.

The importance of green businesses is increasing in the context of combating climate change, protecting the environment, and using resources efficiently. Green business means a business model based on ecological and sustainable development principles, aiming to have a positive impact on the environment and society.

Businesses that prioritize green principles in their operations are environmentally friendly, harness resources more efficiently, generate less waste, and produce eco-friendly products and services. Therefore, green business aims not only to generate profit, but also to prioritize the well-being of the environment and society. Responsible behavior towards the environment is not limited to eliminating direct impacts during production; it also requires the integration of green practices into all business processes and management systems of the organization.

In this regard, it is essential to develop and implement strategies and policies for green planning and green management. The selection of eco-friendly raw materials and materials, efficient use of water, energy, and land resources, proper waste management, and green financing are essential factors for organizing green activities. On top of implementation of a green business management system, attention should also be paid to its regular monitoring, evaluation, and improvement.The recently adopted AZS 962:2024 "Green business management systems" state standard not only indicates the directions in which businesses can apply green principles, but also serves as a useful guide.

The implementation of the new standard will facilitate the transition of businesses, including SMBs, to a green business model, enabling them to be more competitive in the global market. The new standard aimed to minimize the environmental impact of SMBs, to promote efficient resource use, and enhance ecological responsibility, will also serve to stimulate ecological innovations. The new standard, developed with the initiative and support of the Small and Medium Business Development Agency (KOBİA) within the framework of public-private sector collaboration, is the first such practices on an international level.

It should be noted that the state standard AZS 962:2024 "Green business management systems," proposed by ESD Goals LLC, was discussed in the technical committees for standardization under "Conformity Assessment" (AZSTAND/TK 08) and "Ecology" (AZSTAND/TK 09), and was submitted to the Azerbaijani Institute of Standardization under the State Service for Antimonopoly Supervision and Control of the Consumer Market of the Ministry of Economy for approval. The standard has recently been approved by the relevant institute.