On November 27, a significant workshop conference was held in Uzbekistan, organized by Chapter Zero Uzbekistan in collaboration with the UN Global Compact in Central Asia, Fanda, and Alkes Research. The event focused on the integration of Environmental, Social, and Governance (ESG) principles into Investor Relations (IR), bringing together a panel of esteemed experts and business leaders.
The panel discussion featured Adamas Ilkevicius Senior Advisor on Reforms & SOE Transformation at The World Bank, First Deputy Chairman of the Board of UzAssets Investment Company, Anvar Nasritdinov, Principal Manager on Climate Strategy at EBRD, Bakhtiyor Akhmanov, Head of Investor Relations at Uzbek Industrial and Construction Bank, Zafar Khashimov, Founder and Chairman of the Supervisory Board of Korzinka, Advisory Board Member at Chapter Zero Uzbekistan, and Odil Musaev, Managing Director at Alkes Research, Steering Committee Member at Chapter Zero Uzbekistan. These representatives provided valuable insights into the evolving role of ESG in business and investment. Following the panel discussion, Andrey Kozhevnikov, Founder and CEO of Fanda ran the workshop on the practical aspects of navigating the IPO journey in Uzbekistan.
Anvar Nasritdinov, the EBRD's Principal Manager on Climate Strategy, emphasized the event's significance: "Today's event marked a pivotal milestone in Chapter Zero Uzbekistan, where the platform garnered attention in various emerging trends in sustainability and establishing a green future." He highlighted Uzbekistan's commitment to the green economy and alignment with the Paris Agreement to reduce greenhouse gas emissions by 2030.
"Significant steps are being made by 2030 gradually by utilizing sustainable energy resources over conventional energy resources," Nasritdinov added, underlining Uzbekistan's participation in the upcoming COP28 as a commitment to a sustainable future.
Zamira Ataniyazova, Steering Committee Chair at Chapter Zero Uzbekistan, spoke about the organization's role in promoting environmental initiatives. "Chapter Zero Uzbekistan is a climate governance initiative founded in 2023. It is an ideal platform for advancing the green agenda," she said.
Ataniyazova also highlighted the free workshops and events organized by Chapter Zero to aid companies in understanding and implementing ESG principles.
Bakhtiyor Akhmanov, Head of Investor Relations at Uzbek Industrial and Construction Bank, detailed their efforts in green banking, focusing on developing and financing projects related to green initiatives. "Our goal is to address climate risks and changes by leveraging opportunities in this area, we are expanding our activities on green financing and climate-related projects," Akhmanov stated.
Odil Musaev of Alkes Research discussed the importance of practical approaches in business operations. "The theme extends beyond just Investor Relations and mere interaction with investors; rather, it emphasizes that the sustainable existence of a company today fundamentally requires long-term practical engagement," Musaev remarked, stressing the need for sustainable strategies for a company's survival.
Anna Leshukova, Chief Transformation Specialist at Navoi MMC, highlighted their transition towards a green economy, emphasizing the importance of long-term value creation. "By making businesses responsible for people and the environment, we are talking about long-term values," Leshukova asserted.
"We employ about 50,000 people, and the most important resource for the company is, of course, people. Therefore, by making businesses responsible for people and the environment, we are talking about long-term values. And speaking of the fact that we are planning a transition, and this will be a full-fledged transition and full-fledged transit, we must think for the long term in order to develop this direction." - Leshukova stated.
Andrey Kozhevnikov, Fanda Founder, reflected on the conference's impact on Uzbekistan's corporate sector: "Such attention to the topic confirms the relevance of ESG integration into a wide layer of internal processes in companies, as well as in stakeholders' engagement, including primary investors."
"I am happy that our conference found a response from both representatives of the professional community (stock exchange, brokers, NGOs) and from representatives of the largest companies in Uzbekistan. Such attention to the topic confirms the relevance of ESG integration into a wide layer of internal processes in companies, as well as in stakeholders' engagement, including, primarily, investors. We feel and support this demand from Uzbek companies, most of which are starting their journey in the fields of sustainable development, ESG, and investor relations. Therefore we are here today: to share the experience we have gained from other emerging markets and help companies take the first steps correctly. And then guide them into a wonderful future of life after IPO," Kozhevnikov said.
This event marks a crucial step in Uzbekistan's journey towards sustainable development and ESG integration, demonstrating the country's commitment to aligning with global standards and practices in environmental and social governance.
Watch the video below to hear more from the event organizers and participants:
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