AmCham Members’ March Luncheon

On March 4, 2025, the American Chamber of Commerce in Azerbaijan (AmCham Azerbaijan) held its monthly Members’ Luncheon, bringing together esteemed guests, ambassadors, and business leaders. The event featured The Honorable Guest Speaker, Mr. Rahman Hajiyev, Chairman of the Executive Board of the Karabakh Revival Fund.The event commenced with a warm welcome from Mr. Zaur Karimov, Deputy Director of AmCham Azerbaijan, who extended his best wishes for the upcoming Novruz holiday and expressed appreciation for the contributions of AmCham members. In his remarks, Mr. Karimov provided an overview of the Chamber’s ongoing activities and key initiatives, including the development of the AmCham White Paper 2025. He encouraged members to actively participate in shaping policy recommendations, reinforcing AmCham’s commitment to fostering a dynamic and business-friendly environment. Additionally, he highlighted the Chamber’s continuous growth by announcing upcoming events and welcoming new members, further strengthening AmCham’s expanding network and influence.Afterward, AmCham Azerbaijan President, Mr. Dayanat Sadullayev, warmly welcomed the audience and the distinguished guest speaker at the Luncheon, expressing his sincere appreciation for their valuable collaboration. He highlighted the importance of Karabakh’s reconstruction and sustainable development, calling it one of the most transformative initiatives in Azerbaijan’s modern history. Mr. Sadullayev reaffirmed AmCham’s commitment to driving economic growth and social progress by promoting investment, technological innovation, and expertise in the region.Mr. Dayanat Sadullayev underscored the unique opportunities Karabakh’s recovery presents for collaboration between the public and private sectors, both locally and internationally. He also highlighted AmCham’s longstanding engagement with the Karabakh Revival Foundation, noting that AmCham was the first business association to visit Aghdam following its liberation. Through this collaboration, members have gained firsthand insights into various restoration projects. Mr. Rahman Hajiyev expressed his gratitude to AmCham members and guests, outlining the strategic priorities of the Karabakh Revival Fund. He detailed key areas of focus, including infrastructure development, economic revitalization, and community rebuilding efforts. Additionally, he highlighted several successfully completed projects that have laid the groundwork for long-term sustainable growth in the region.The discussion underscored Karabakh’s potential as a new investment hub, with promising opportunities in agribusiness, tourism, renewable energy, and technology. The Fund remains committed to attracting both local and international investors to accelerate the region’s development. Recognizing the vital role of collective efforts, Mr. Hajiyev emphasized the importance of strengthening public-private partnerships and fostering philanthropy to support infrastructure projects, education, and social initiatives. He called on businesses, investors, and stakeholders to unite in rebuilding Karabakh and advancing its sustainable growth.At the conclusion of the luncheon, Mr. Dayanat Saddulayev expressed his sincere appreciation to Mr. Rahman Hajiyev and all participants for their engagement in the event.The luncheon also included a special photo exhibition titled “From Tragedy to Victory,” highlighting the restoration and reconstruction efforts in the liberated territories.AmCham Azerbaijan continues to serve as a leading platform for dialogue and collaboration, supporting initiatives that drive economic resilience and long-term prosperity. This event reaffirmed AmCham’s commitment to fostering investment, innovation, and sustainable business practices in Karabakh and beyond.Click for all the media from the eventClick for the highlights from the event

AmCham Azerbaijan Successfully Hosted the 5th Annual Ethics and Compliance Conference

AmCham Azerbaijan successfully hosted the 5th Annual Conference on “Ethics and Compliance in Azerbaijan” on February 25, 2025. With the generous support of bp and NEQSOL Holding, the event brought together key business leaders, government officials, and compliance professionals to discuss corporate ethics, transparency, and regulatory compliance.The conference commenced with opening remarks by Ms. Sharaf Asgarova, Chairperson of the AmCham Legal & Compliance Committee, who welcomed the audience and set the stage for an engaging and insightful discussion. She briefly outlined the committee’s recent activities and future plans, emphasizing its ongoing efforts to support AmCham members in navigating regulatory challenges, fostering ethical business practices, and strengthening compliance frameworks. Encouraging active participation, she called on attendees to share insights, challenge conventional thinking, and contribute to shaping a more transparent business environment in Azerbaijan. She passed the floor to the President of AmCham Azerbaijan. Mr. Dayanat Sadullayev, President of AmCham Azerbaijan, highlighted the growing relevance of ethics and compliance in today’s business climate. He reaffirmed AmCham’s commitment to integrity, accountability, and transparency, guided by its Code of Ethics, and expressed appreciation to government representatives and corporate sponsors for their role in advancing ethical business practices.Following this, Mr. Elvin Hatamzade, Advisor to the Minister of Justice of Azerbaijan, discussed the government’s ongoing initiatives to strengthen the regulatory framework and promote corporate responsibility. He emphasized collaboration between public and private sectors as key to ensuring compliance and transparency.Throughout the event, three engaging panel discussions took place, addressing crucial topics in compliance and business ethics.The first panel addressed conflicts of interest in business, focusing on identifying and managing them, understanding their legal and ethical implications, and implementing best practices for effective policies and procedures. The panel also highlighted relevant case studies and practical solutions. The session featured notable industry leaders: Mr. Bakhtiyar Aslanbayli, Vice President of BP Caspian Region; Mr. Toghrul Ahmadov, Chief Legal Officer at NEQSOL Holding; Mr. Edward R. Kempson, Partner at Latham & Watkins; Ms. Shirin Aliyeva, Chief Legal & Data Strategy Officer at Azercell; Mr. Vugar Novruzov, Head of Compliance at AZAL; Ms. Ilaria Filippi, Anti-Bribery & Data Privacy Leader at Baker Hughes. The session was moderated by Ms. Leyla Shahingoz, Deputy Chairperson of AmCham Legal & Compliance Committee.The second panel session explored the evolving landscape of AML compliance, focusing on Azerbaijan’s regulatory framework, cross-industry compliance strategies, real-life examples of effective AML programs, and anticipated future developments in AML regulations.The discussion showcased insights from leading industry experts: Mr. Nurlan Babayev, Director at the Financial Monitoring Service of Azerbaijan; Ms. Almaz Musayeva, Director of Compliance Department at BirBank; Ms. Amina Bakhshiyeva, Legal Director at Deloitte Azerbaijan; Mr. Joydeep Sengupta, Partner and Head of Global Compliance and Investigations at Dentons Paris; Mr. Mazahir Dadashov, Director of Financial Monitoring and Compliance Department at ABB. The session was skillfully moderated by Ms. Sharaf Asgarova, Chairperson of AmCham Legal & Compliance Committee.The final panel focused on public procurement challenges and best practices, covering key topics such as an overview of public procurement regulations in Azerbaijan, ensuring transparency and fairness, addressing compliance challenges, and examining case studies of successful procurement projects.The session featured insights from esteemed speakers, including: Mr. Ahmad Hasanov, Director of the Department of Public Procurement Control at the State Service for Antimonopoly and Consumer Market Supervision under the President of Azerbaijan; Mr. Kanan Tabasaransky, CEO of Smart Solutions Group; Mr. Mammad Balajanov, Head of Law Services at EY; Mr. Ayaz Mirzazada, Director of the Legal & Organizational Affairs Department at the Central Bank of Azerbaijan. The session was moderated by Mr. Fuad Gashamov, Deputy Chairperson of AmCham Legal & Compliance Committee.The conference concluded with remarks by Mr. Zaur Allahverdizade, First Vice-President of AmCham Azerbaijan, emphasizing the importance of ethical business practices and regulatory compliance. AmCham Azerbaijan expressed gratitude to bp and NEQSOL Holding for their support, reaffirming their commitment to fostering transparency and ethical business standards in Azerbaijan.Click for all the media from the eventClick for the highlights from the event

President of AmCham Azerbaijan honored with “Active Contributor” Certificate at the “Tax Service - 25” Forum

On February 13, 2025, Mr. Dayanat Sadullayev, President of AmCham Azerbaijan, Deputy CEO, and Executive Board Member at PASHA Holding LLC, was awarded the “Active Contributor” (“Fəal İanəçi”) certificate at a forum organized by the Ministry of Economy. The forum, titled “Tax Service - 25: Sustainable Development and Effective Transformation,” was attended by leadership from the Ministry of Economy and the State Tax Service, as well as representatives from state institutions, members of parliament, public organizations supporting entrepreneurs, experts, and business leaders.The forum highlighted the crucial role of tax authorities in economic regulation, the importance of tax reforms in strengthening public-private partnerships, and their impact on creating a more favorable business environment. It also discussed the transformation of the tax system, digital innovations, and the benefits of fostering transparency and efficient cooperation to support the growth of the entrepreneurial ecosystem.

17th Annual AmCham Black & White Ball

On December 14, 2024, the American Chamber of Commerce of Azerbaijan (AmCham Azerbaijan) hosted its 17th Annual Black & White Ball at the stunning Buta Palace. This signature event, a highlight of AmCham’s social calendar, brought together over 500 distinguished guests, including business leaders, and government official, in an atmosphere of elegance, camaraderie, and celebration.This year’s theme, “Under the Moonlight,” set the stage for a night of magic and sophistication. The festivities commenced with a stylish cocktail reception, followed by captivating live performances, dazzling entertainment, and thrilling surprise acts. Guests enjoyed a gourmet dining experience paired with unlimited drinks, all while basking in an atmosphere inspired by the timeless energy of Michael Jackson.The event opened with welcoming remarks from Mr. Dayanat Sadullayev, President of AmCham Azerbaijan, and H.E. Mr. Mark Libby, Ambassador of the United States to Azerbaijan. In his address, Mr. Sadullayev highlighted the significance of the Black & White Ball in celebrating AmCham’s achievements and fostering unity among its members. He expressed heartfelt gratitude to the Chamber’s members for their unwavering commitment and collaborative efforts.H.E. Mark Libby, in his remarks, acknowledged AmCham’s vital role in strengthening economic ties between the United States and Azerbaijan, emphasizing the Chamber’s contributions to fostering bilateral relations.Following the opening speeches, representatives of the event's major sponsors took the stage to share their support and remarks:BP – Mr. Matt Kirkham, Vice PresidentProcter & Gamble – Mr. Irakli Gabriadze, General ManagerMcDonald’s – Mr. Oscar Bogopolski, CEOPASHA Real Estate – Mr. Levent Kirazoglu, CFOAWE Consulting – Ms. Elmira Javadova, Regional DirectorFarchitects LLC – Mr. Farid Safquliyev, CEOA highlight of the evening was the ceremonial cake-cutting led by Mr. Sadullayev and H.E. Libby, symbolizing unity and celebration. Adding to the excitement, raffle prizes and awards honored exceptional achievements, while a live music and DJ kept the dance floor alive well into the night. This year, every ticket wins! The excitement peaked with a thrilling raffle draw, featuring exclusive prizes such as an iPhone 15+, Apple Watch, luxury weekend stays at prestigious hotels, and more. The grand prize—a round-trip ticket to Europe—added an extra layer of thrill. Guests can check their prizes through this link and collect them from the AmCham office, presenting the winning ticket as proof.The success of the 17th Annual Black & White Ball was made possible by the generous support of our valued members:Platinum sponsors: Azer-Turk Bank, BP, McDonald's,  PASHA Real Estate, P&G , AWE Consulting,  Kotler Impact; Gold sponsor: FARCHITECTS ;Silver sponsors: EXXON AZERBAIJAN LIMITED ;Bronze sponsors: PASHA Life, Landmark,Other sponsors: RESM, Absheron Hotel Group, Bloom Group, Bridge Group of Companies, Bakcell, Carlsberg, Coca-Cola, Fairmont Hotel Flame Towers, Four Seasons Hotel Baku, Hilton Garden Inn, Hillside, Hyatt Regency,  JW Marriott Absheron Baku, Mody's Baku, The Ritz Carlton.We extend our heartfelt appreciation to each sponsor for their unwavering support, which played a pivotal role in the event’s success.The 17th Annual Black & White Ball was truly a night to remember—a celebration of unity, achievement, and shared success that underscored AmCham’s dedication to fostering collaboration and growth in Azerbaijan.Click for all the media from the eventClick for the highlights from the event

AmCham Members’ October Luncheon

October 15, 2024, The American Chamber of Commerce in Azerbaijan (AmCham) hosted its highly anticipated October Luncheon with Honorable Guest Speaker Mr. Emin Amrullayev, Minister of Science and Education of the Republic of Azerbaijan. The event served as a crucial forum for fostering dialogue between the government and the business community, with a focus on the pivotal role of education in shaping the country’s socio-economic development.In his opening remarks, Dayanat Sadullayev, President of AmCham Azerbaijan, extended gratitude to Minister Amrullayev for his participation and acknowledged the importance of collaboration between the public and private sectors in advancing Azerbaijan’s education system. Mr. Sadullayev highlighted AmCham’s ongoing commitment to supporting government initiatives that aim to elevate the quality of education and align it with global standards. He praised the Chamber’s active collaboration with the Ministry of Science and Education, noting how such efforts help bridge the gap between educational reforms and the needs of the business sector.Minister Amrullayev's speech highlighted the transformative progress in Azerbaijan’s education sector, outlining strategic priorities under the government’s 2022-2026 Social and Economic Development Strategy. Emphasizing the integration of science and education, the Minister discussed ongoing reforms aimed at modernizing the national education system, aligning it with international best practices, and equipping students with the skills necessary for success in a globalized world.In his address, Minister Emin Amrullayev underscored not only the critical educational reforms underway but also extended a call for corporate responsibility in youth development through sports. As the President of the Azerbaijan Basketball Federation since 2021, Minister Amrullayev has played a pivotal role in advancing basketball in Azerbaijan. He noted that fostering youth engagement in sports, particularly basketball, is vital for nurturing well-rounded individuals who can contribute to both the nation’s social and economic future.Minister Amrullayev urged the business leaders present in the audiance to consider supporting sports initiatives, including the Azerbaijan Basketball Federation, as part of their corporate social responsibility efforts. He emphasized that such support would not only promote a healthy lifestyle and teamwork among Azerbaijani youth but would also provide them with opportunities for personal growth, leadership development, and national pride. By investing in youth programs and sponsorships in sports, corporations can play an instrumental role in shaping the future workforce and contributing to the country’s broader socio-economic goals.Following the Minister’s address, the event continued with AmCham Azerbaijan’s traditional luncheon presentations, allowing both new and long-standing members to showcase their contributions and expertise, fostering collaboration and networking within the business community.Deloitte Azerbaijan introduced its "Best Managed Companies" program, recognizing top privately owned Azerbaijani businesses for excellence in governance, operations, and leadership.SMART Cloud LLC presented digital solutions, including ERP, CRM, and HRM tools, emphasizing the importance of digital transformation and a strong digital culture. Hertz Azerbaijan LLC highlighted its 21-year experience in transportation, offering B2B and B2C services and stressing health, safety, and environmental responsibility.JURIS Law Center wrapped up with an overview of its legal expertise, providing strategic solutions for local and international businesses in Azerbaijan.In addition, attendees were introduced to a new historical movie project, Azerbaycan Atabeyleri, a national initiative that showcases Azerbaijan’s rich cultural heritage during the Atabey period. The film, which explores cultural renaissance of that era, is poised to play a key role in promoting Azerbaijan’s history both domestically and internationally. The project underscores the significant contribution of cinema to preserving and celebrating national identity, while also highlighting the role of cultural projects in education and national pride.The event concluded with a networking lunch, allowing participants to engage in further discussions, explore potential partnerships, and strengthen ties within the business community.AmCham Azerbaijan remains committed to creating opportunities for meaningful engagement between the government and the private sector, with events such as the October Luncheon serving as a testament to the Chamber’s role in promoting dialogue, collaboration, and innovation across industries.Click for all the media from the eventClick for the highlights from the event

AmCham Green Finance Conference

On September 24, 2024, The American Chamber of Commerce in Azerbaijan (AmCham) successfully convened its exclusive Green Finance Conference, setting a new standard for the region’s efforts to address climate change and accelerate the green finance agenda. The conference, driven by the initiative of AmCham's Banking, Finance, and Insurance (BFI) committee, congregated government officials, financial leaders, and sustainability experts to explore innovative financial solutions aimed at supporting Azerbaijan’s transition to a low-carbon, resilient economy in anticipation of COP 29.The event achieved its exceptional success through the esteemed support of key partners, including the International Finance Corporation (IFC), Unibank, Yelo Bank, ExxonMobil, Baku Stock Exchange, Unicapital, InvestAZ, and Dayaq, whose collaboration was instrumental in organizing such a meaningful and impactful conference.In his opening remarks, Mr. Dayanat Sadullayev, President of AmCham Azerbaijan, underscored the critical role of green finance in transforming Azerbaijan’s economy and safeguarding its future. He emphasized, “This conference reflects AmCham's commitment to aligning Azerbaijan's financial systems with global sustainability goals. As COP 29 approaches, we are focused on leveraging green finance to position Azerbaijan at the forefront of the climate action movement.”Following Mr. Sadullayev, Mr. Shahin Mahmudzade, Executive Director of the Central Bank of Azerbaijan, stressed the responsibility of the financial sector in mobilizing capital to meet the country’s ambitious environmental targets. The third speaker, Ms. Gunay Jalilova, Chairperson of the BFI Committee and Deputy CEO of Yelo Bank, highlighted the pivotal role the BFI committee played in organizing the conference and stressed the importance of the financial sector's ongoing commitment to sustainability. Ms. Jalilova spoke about how Azerbaijani financial institutions are uniquely positioned to advance green finance initiatives by integrating sustainable practices across all levels of the economy.The conference’s first panel, Sustainable Market Opportunities, was moderated by Ms. Stefanie Stallmeister, Country Manager for the World Bank in Azerbaijan. She opened the discussion by presenting the Azerbaijan Country Climate and Development Report (CCDR), which outlined the nation’s climate priorities. Ms. Stallmeister was joined by industry experts who shared insights on key areas of sustainable development. Mr. Murad Sadikhov, Country Manager at Masdar, and Ms. Khayala Nagiyeva, CFO and Member of the Board at Azerbaijan Green Energy Company, highlighted the latest developments in Azerbaijan's renewable energy sector, focusing on ongoing initiatives and future opportunities in solar, wind, and hydropower. Mr. Taciano Custodi, Head of Sustainability at Rabobank Brazil, addressed the significance of climate-smart agriculture in increasing productivity while minimizing environmental impact, a vital area for Azerbaijan’s agrarian economy. Ms. İrem Barzilay, Head of Sustainable Finance at Garanti BBVA, contributed by discussing decarbonization opportunities and the financial sector's essential role in reducing carbon footprints and facilitating a transition to a low-carbon economy.The second panel, moderated by Ms. Leyla Huseynli from the International Finance Corporation (IFC), focused on Sustainable Finance Products. Ms. Huseynli and her fellow panelists offered in-depth case studies on green bond issuances and the development of green portfolios. Mr. Kyrylo Mykhomedzyanov from IFC provided international expertise on green portfolio development. Ms. Ana Osadze, Head of ESG and Sustainability at Bank of Georgia, shared the bank’s innovative approach to green financial products, emphasizing the importance of education, partnerships, and tailored lending frameworks in promoting sustainable development. She highlighted the bank’s progress in fostering green finance initiatives. Mr. Nurlan Hajiyev, Senior Director and Country Manager at Visa, introduced the concept of green calculation, a tool designed to help businesses and consumers track and reduce their carbon footprints through financial transactions. Additionally, Mr. Farid Abushov, Chairman of the Management Board at Unibank, offered a local perspective, detailing how Azerbaijani financial institutions are adapting to global trends by developing and offering sustainable financial products.The third panel, Green Finance Investment and Infrastructure, explored how investment in sustainable infrastructure can promote long-term environmental and financial resilience. Moderated by Mr. Vugar Namazov of Unicapital, the discussion featured leading voices in the field of green finance. Mr. Manas Gizhduaniyev, CEO of the Astana Green Finance Centre, discussed his Centre’s leadership in promoting sustainable bonds across Central Asia, while Ms. Samra Talishinskaya-Abbasova from Unibank highlighted the transformative potential of technological innovation in green finance. She emphasized the importance of accurate ESG data and the role it plays in mitigating greenwashing. Other panelists addressed the importance of governance, technology, and market mechanisms in supporting green finance initiatives. Mr. Ruslan Khalilov, CEO of the Baku Stock Exchange, examined how leveraging technological innovations can foster green finance through capital markets, positioning the exchange to attract sustainable investments. Mr. Boris Janjalia, ESG Advisory Team Lead at IFC, spoke about the significance of E&S Risk Management and the role of transparent ESG reporting in preventing greenwashing and building trust in green financial products.This landmark event came at a pivotal time, as Azerbaijan prepares for its participation in COP 29. Throughout the conference, speakers emphasized the need for collaboration between the public and private sectors to scale up green investments and build a sustainable, low-carbon economy. Discussions also underscored the essential role of financial institutions in achieving the climate goals outlined in the Paris Agreement, particularly through the development of innovative green finance products and sustainable infrastructure investments.AmCham Azerbaijan’s Green Finance Conference, organized with the valuable contribution of the BFI committee, represents a significant milestone in the country’s green finance journey, reaffirming its commitment to leading regional efforts toward sustainability and climate resilience.Click for all the media from the eventClick for the highlights from the event

AmCham Azerbaijan joined the 4th International Cyber Security Days (ICSD-2024) Conference

AmCham Azerbaijan took an active role in the 4th International Cyber Security Days (ICSD-2024) conference, held on September 19-20, 2024. The conference brought together top cybersecurity professionals, and leaders from the public and private sectors, both locally and internationally.AmCham’s Board members Mr. Dayanat Sadullayev, Mr. Zaur Allahverdizade, Mr. Oscar Bogopolskiy, Mr. Babek Aghayev and Ms. Rena Mammadova engaged as panelists, offering their insights on pressing cybersecurity concerns and the latest developments in the field.The conference, themed "Cyber Security for the Green Economy," focused on innovations and the emerging challenges posed by digital transformation. It also explored global best practices for safeguarding systems, networks, and data against cyber threats. As the digital landscape evolves, cyber security has become crucial for businesses, governments, and individuals in protecting sensitive information and maintaining trust.

AmCham Azerbaijan launched its Sustainability Handbook for Businesses

On August 1, 2024, American Chamber of Commerce in Azerbaijan (AmCham Azerbaijan) hosted a groundbreaking event to launch the Sustainability Handbook for Businesses. This event successfully united leaders from various sectors to discuss and promote sustainable practices and innovative solutions to contemporary environmental and economic challenges.Executive Director of AmCham Azerbaijan, Ms. Gulnara Aslanbayli, delivered the welcome speech, setting a constructive tone for the day's proceedings and emphasizing the importance of the topics discussed. Following her, Mr. Dayanat Sadullayev, the newly appointed President of AmCham Azerbaijan, greeted the audience warmly and outlined the chamber's ongoing initiatives and commitment to fostering a sustainable business environment.Mr. Bakhtiyar Aslanbayli, Vice President of BP Azerbaijan, extended greetings to the audience on behalf of BP. Taking the opportunity, he congratulated the newly elected board of directors and wished them success in their endeavors. Mr. Aslanbayli underscored the significance of the Sustainability Handbook for Azerbaijan's economy and highlighted the key aspects and primary objectives of the book's creation. Afterwards, Ms. Vladanka Andreeva, UN Resident Coordinator in Azerbaijan, then highlighted the UN's efforts and partnerships aimed at achieving sustainable development goals in the region. Ms. Rena Tahirova, Chairperson of the AmCham SD&CI Committee, provided an introduction to the committee's work and its role in promoting sustainable development and corporate innovation. She noted that the handbook is a comprehensive guide designed to enhance the private sector's knowledge in environmental, social, and governance (ESG) practices. The AmCham Sustainability Handbook serves as a practical tool, offering detailed approaches and various perspectives on sustainable development that businesses can apply in both daily operations and strategic goal setting.Following the introductory speeches, Mr. Ilkin Hajiyev, Executive Director at Sustainera Solutions, presented the newly launched Sustainability Handbook. His presentation covered key strategies and practical steps outlined in the handbook, designed to guide businesses in implementing effective sustainable practices. Participants engaged with Mr. Hajiyev through questions and discussions about the handbook's content.Ms. Rena Mammadova, Board Member of AmCham Azerbaijan, provided remarks on the 15-year journey of the Coastal Cleanup Campaign, emphasizing its impact and achievements. She then introduced Ms. Tukezban Huseynova, Director of EcoHUB NGO, who presented detailed insights into the campaign's strategies, outcomes, and future plans.Later, Mr. Farrukh Ali, CEO of PASHA Future Lab | PASHA Innovation, announced the upcoming INMERGE Innovation Summit 2024, highlighting the event's focus on driving technological advancements and fostering an innovation ecosystem in Azerbaijan.The event concluded with a networking lunch, offering attendees the opportunity to further discuss the day's topics, exchange ideas, and explore potential collaborations.Click here to read the handbook Click for all the media from the event

AmCham Sustainability Handbook Released

AmCham Sustainability Handbook Releasedinterview with Rena Tahirova, Chairperson of Sustainable Development and Corporate Impact Committee of the American Chamber of Commerce in AzerbaijanAmerican Chamber of Commerce in Azerbaijan (AmCham) considers the significant impact of private sector on addressing global issues such as climate change and sustainability. The Chamber believes that companies must understand their role in shaping climate policy, contributing to sustainability efforts, and leveraging opportunities for innovation and development. By fostering dialogue and cooperation between the private sector, government, and other stakeholders, the Chamber aims to promote meaningful actions towards a more sustainable and resilient future. We discussed these activities with the Chair of the AmCham Sustainable Development and Corporate Impact Committee, Rena Tahirova.Rena, for the first time in Azerbaijan's history, AmCham is releasing the Sustainability Handbook. What is this handbook?This handbook is a comprehensive guide aimed at supporting and enhancing the private sector's knowledge in the areas of environmental, social, and governance (ESG) practices. The AmCham Sustainability Handbook serves as a practical tool offering detailed approaches and various perspectives on sustainable development that the private sector can apply in both daily operations and strategic goal setting.Why did you choose to release this practical guide now? We have long desired to release a Sustainability Handbook, having discussed it for about 2-3 years. We are very pleased that, in partnership with Sustainera Solution and with the support of BP Azerbaijan, this opportunity has now arisen. Currently, the integration of sustainable development principles into corporate management standards has become an crucial. Companies are facing situations where adherence to ESG principles is a prerequisite for continued business development, but in practice, it is not always clear which standards are applicable, how to apply them, and how to set long-term and short-term goals. I believe this handbook will become a desk reference for business development, sustainable development, and HR professionals.The relevance of the AmCham Sustainability Handbook lies in its accessible language and clear information on existing trends, goals, and standards. Considering that the implementation of ESG standards is currently a priority for the state, its relevance is undeniable. Moreover, the universality of the AmCham Sustainability Handbook makes it interesting not only for the private sector but also for professionals in government structures and students.Lastly, in developing Handbook, we aimed to create a resource that promotes the exchange of practices and helps companies mitigate environmental and social risks. It is widely acknowledged that non-financial risks now dominate over financial ones, related to social and environmental issues. Therefore, our goal in enhancing corporate governance through the implementation of ESG standards is risks reduction and achieving positive change.Rena, we use the term "Sustainable Development"... But what is "Unsustainable Development"?Sustainable development entails a harmonious blend of economic growth, social justice, and minimal impact on the environment. In contrast, unsustainable development is a model primarily focused on economic achievements aimed solely at profit generation and capital accumulation. Unsustainable development results in environmental degradation, social inequality - a significant gap between the rich and the poor, deteriorating living conditions, and economic instability. Often, businesses are focused solely on short-term goals, only on the present moment, which frequently leads to economic instability. Sustainable development, on the other hand, involves a long-term strategy consisting of short-term steps. Thank you so much... Rena, there is an opinion that sustainable development is an expensive pleasure... Can businesses calculate how beneficial it is in the long or medium term to be sustainable?Yes, the opinion that sustainable development is indeed an expensive endeavor and may not always be affordable for small and medium-sized enterprises is widely spread and it is true. Because ESG approach is required to innovations, additional investments in new technologies, science based approach which may not always be within the means of medium and small entrepreneurs. In such situations, the support of international and governmental financial institutions is important, including grants, loyal loan programs, and the provision of expert and advisory services. Implementing sustainable development approaches at the initial stage requires investment, which may initially seem unreasonably expensive, but in the long run, it brings significant benefits to businesses that are concrete and measurable. For example, this includes cost savings on energy resources and production costs. For example, by effective waste management and circularity approach the initial waste can become a row material in production circle. As I already mentioned the sustainable development stimulates innovative approaches, and any innovation always gives a competitive advantage in the market - it not only increases productivity but also employee loyalty - because one of the key principles of the social part of ESG is a social approach, transparency, accountability, compliance and human rights. Companies that invest in sustainable development practices today will be in a more advantageous position tomorrow, possessing advantages in terms of specific economic resources and reduced risks. To demonstrate all the benefits of sustainable development practices, the AmCham Sustainability Handbook was created, including.When the Handbook will be released?The handbook will be available from 1st August on AmCham website - https://amcham.az/en/other-publicationsThank you for the insightful interview, Rena.Thank you for your interesting questions.. 

AmCham Annual General Meeting 2024 was held

American Chamber of Commerce in Azerbaijan (AmCham Azerbaijan) held its Annual General Meeting (AGM) on June 25, 2024. This significant event featured the elections for the Board of Directors and the President of AmCham Azerbaijan.Mr. Ilkin Hajiyev from Sustainera Research and Consulting Services was elected as the Chairman of the General Meeting, while Mr. Yusif Abbasov and Mr. Abdulla Huseynli were elected as the tellers. Mr. Hajiyev introduced the 13 candidates running for 10 vacant positions on the Board of Directors. During the ballot counting, Former President of AmCham Azerbaijan, Ms. Nargiz Nasrullayeva-Muduroglu delivered a comprehensive presentation on the accomplishments achieved during her presidency and concluded with a farewell speech. She highlighted the achievements and initiatives during her tenure and expressed her gratitude to the AmCham community for their dedication and contributions. Ms. Nasrullayeva-Muduroglu also extended her best wishes to the new Board of Directors in their ongoing efforts to fulfill the Chamber’s mission and strategic objectives.The anonymous voting process involved authorized representatives of AmCham Regular Members, all of whom have a strong business reputation and standing in the community. The Chairman of the AGM announced the election results for the new Board members, who will serve a two-year term from 2024 to 2026. The newly elected Board members are:Rana Mammadova, Coca-Cola Azerbaijan Dayanat Sadullayev, PASHA HoldingZaur Gurbanov, SOCARZaur Allahverdizade, Baker Hughes Services Representative Office in Azerbaijan and GeorgiaImran Ahmadzada, NEQSOL Holding Kanan Tabasaransky, Smart Solutions GroupKamil Valiyev, Dentons Oscar Bogopolskiy, McDonald’s AzerbaijanNuran Kerimov, Deloitte AzerbaijanBabek H. Aghayev, PROSOL CompanyAmong these elected Board Members, Mr. Dayanat Sadullayev from PASHA Holding was elected as the President of AmCham Azerbaijan.The AGM concluded with a speech by Ms. Gulnara Aslanbayli, who extended her best wishes to the newly appointed President and Board Members.Click for all the media from the eventClick for the highlights from the event