In a pioneering move, Uzbekistan hosted its first workshop conference dedicated to integrating Environmental, Social, and Governance (ESG) principles into Investor Relations (IR). The event was marked by an insightful opening speech by Shokhrukh Pulatov, Uzbekistan Country Manager at UN Global Compact in Central Asia.
Pulatov's address illuminated the rapid changes in the global economy and underscored the escalating importance of responsible, sustainable business practices.
"The transformation of the global economy highlights the rising prominence of businesses that prioritize environmental sustainability, social responsibility, and ethical practices," Pulatov articulated.
The conference showcased a panel of experts and business leaders, deliberating on the practical application of ESG strategies at the corporate level in Uzbekistan. This discussion aligns with the country's state reforms and its continuous dialogue between local companies and international investors and banks.
Pulatov emphasized the crucial role of ESG integration in Uzbekistan's corporate landscape: "for Uzbek businesses, adopting ESG principles is not just timely but essential," he asserted.
"More than 90% of all investors believe that ESG-focused companies deserve a higher market capitalization and are more successful in the long term," he stated.
The workshop, attended by numerous industry professionals, also focused on the burgeoning interest in ESG principles from companies in Kazakhstan and Uzbekistan. Pulatov highlighted the eagerness to support such businesses, stressing the importance of employee involvement and readiness for the effective implementation of new practices.
"We see a lot of interest. We want to help such businesses in this direction and work together," he said. He emphasized the importance of considering employee opinions and readiness, as their support is crucial for implementing any new practices or innovations effectively.
Furthermore, Pulatov underlined the necessity for companies to visibly demonstrate their ESG commitments, citing platforms like the UN Global Compact and Chapter Zero as crucial for conveying a positive message to stakeholders and international bodies.
"The importance of showing commitment on global platforms like the UN Global Compact or Chapter Zero is crucial. It sends a positive signal to stakeholders and international organizations," he advised.
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