Azernews.Az

By Ayya Lmahamad

Azerbaijan and the United Nations have signed a memorandum of understanding to promote corporate sustainability.

The document was signed between the UN (office) in Azerbaijan, the Entrepreneurship Development Fund, and the Small and Medium Business Development Agency on October 22.

"UN in Azerbaijan has signed today a Memorandum of Understanding with the Entrepreneurship Development Fund and the Small and Medium Business Development Agency of Azerbaijan to promote corporate sustainability and resilient businesses through the UN Global Compact," UN in Azerbaijan wrote on its official Twitter page.

UN Resident Coordination in Azerbaijan stated that the memorandum aims to strengthen relations between society, business, and state to achieve five national priorities of socio-economic development aligned with the Sustainable Development Goals.

It should be noted that the UN and Azerbaijan's Economy Ministry signed the Sustainable Development Cooperation Framework (UNSDCF) for 2021-2025 in March. The Cooperation Framework, fully compliant with the Sustainable Development Goals (SDGs), is based on the principles of human rights, gender equality, sustainable development, resilience, and responsibility, including socio-economic development priorities, and will cover entire Azerbaijan.

The UNSDCF is the fifth UN-Azerbaijan cooperation framework and is based on an analysis of Azerbaijan’s progress towards the 2030 Agenda for Sustainable Development. The implementation of the cooperation framework puts the UN development system reform into practice, emphasizing transparency, accountability, and joint action in the delivery of all development results.

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Ayya Lmahamad is AzerNews’ staff journalist, follow her on Twitter: @AyyaLmahamad

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