ESG is an abbreviation for “environmental, social, governance” in English.
It is based on a perception that environmental, social and governance issues affect a company’s ability to generate value. ESG enables the transition from short-term approaches in doing business to long-term ones, striving for an environment that will encourage inclusive economic growth, will be socially equitable, environmentally clean and safe.
ESG is a way of running business oriented towards sustainable development the key axis of which are ethical leadership and good governance, assessing and managing the company’s environmental impact, and ensuring performance transparency.
The Corporate Governance Center will cover ESG topics and it aims to raise awareness of the Armenian society and business community and to develop capacity.
Cooperation with International Finance Corporation (IFC)
In October 2020, the Corporate Governance Center signed a new cooperation agreement with IFC, a member of the World Bank Group. The scope of the cooperation is to integrate environmental, social and governance issues to promote the investments by IFC in Eastern Europe and Central Asia.
The Project aims to increase the role of environmental, social and governance (ESG) standards in issues on improving the performance of the private sector, sustainable development, and attracting investments.
The Project envisages raising public awareness, capacity building, advocacy and other activities on ESG standards and advanced corporate governance practices.