Mehriddin Abdullayev, Chairman of Uzbekneftgaz, shared the company’s plan to develop a long-term and medium-term strategy to strengthen the international credit rating by going to IPO and receiving a Sustainable Development Rating (ESG) from international rating agencies.
So, the National oil and gas producer carried out the following international requirements:
- Created an independent unit responsible for the implementation of ESG standards;
- Approved the company's ESG goals and indicators;
- Approved the initial "roadmap" for the introduction of ESG principles. This roadmap envisages the involvement of an international consulting company in the preparation of the ESG report and in support of obtaining an ESG rating.
Additionally, the Ministry of Economic Development and Poverty Reduction, in cooperation with the Asian Development Bank, organized an online seminar on "ESG policy, methodology and solutions for state-owned enterprises" on August 25 of this year where they:
- Studied the level, goals and plans of introducing ESG principles in state enterprises;
- Reviewed current international ESG best practices and rating systems that SOEs can use to achieve ESG certification.
- Under the instructions of the Chairman, projects are being carried out to achieve ESG goals in society, including measures aimed at reducing greenhouse gas emissions, rational use of resources, reducing the company's carbon footprint, and introducing renewable energy sources on a large scale. events were discussed.
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