2024-07-04 05:32:10
The “ESG summit: Public-private partnership (PPP) for sustainable development” has started in Baku, Day.Az reported on Wednesday with reference to Trend.
At the opening of the summit, COP29 President and Minister of Ecology and Natural Resources of Azerbaijan Mukhtar Babayev made a video address.
“ESG stands for environmental protection, society and governance. Public-private partnerships are becoming increasingly important in the financing of strategic projects, which are becoming “green” projects,” the minister noted.
According to him, in matters of financing, it is important for investors to follow ESG policies, as this increases confidence in the provision of finance and reduces risks for investors.
“ESG and PPP now go hand in hand for the sustainable development of the economy and its sectors such as sustainable water supply, agriculture, urbanization, healthcare. The state and the private sector need to work together, using ESG practices. This is important for adapting the energy transition, insuring investors’ risks,” the minister believes.
He expressed satisfaction and appreciation for the work of PwC (the organizer of today’s conference) in these processes.
Mukhtar Babayev also mentioned that ESG is an important part of the COP29 negotiations aimed at inclusiveness and the preparation of transparent reports on countries’ actions to combat climate change.
The Minister expressed confidence that the PPP cooperation mechanism will help achieve a green world and a sustainable future.
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