Advancing ESG reporting in Azerbaijan: Trends, challenges, and opportunities

Fagan Muzaffarli *

School of Accounting, Zhongnan University of Economics and Law, 182 Nanhu Avenue, Wuhan 430073, P.R. China.
 
Review
International Journal of Science and Research Archive, 2024, 13(02), 2996-3000.
Article DOI: 10.30574/ijsra.2024.13.2.2525
Publication history: 
Received on 10 November 2024; revised on 16 December 2024; accepted on 18 December 2024
 
Abstract: 
One of the most significant trends in the development of the global economy is the integration of ESG (Environmental, Social, and Governance) principles into the operations of businesses and financial institutions. This paper aims to examine the trends and perspectives of implementing ESG principles within the Azerbaijani economy. The research methodology applies stakeholder and institutional theories to develop a conceptual framework that guides the understanding of ESG reporting in Azerbaijan, includes comparison, generalization, economic, institutional analysis. Based on the findings, it is concluded that the successful implementation of ESG principles in the Azerbaijani economy requires a thorough analysis and evaluation of current trends, key characteristics, and future opportunities within both the Azerbaijani and global economies.
 
Keywords: 
Sustainable development; ESG reporting; ESG factors; Stakeholder and Institutional theories; Emerging market
 
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