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

AmCham Hosted "Meet Your Candidate" Cocktail Reception

Reflecting on a cherished annual tradition, the AmCham "Meet Your Candidate" Cocktail Reception took place on March 7, 2024. This special event brought together the dynamic AmCham community for an evening of networking and engagement, providing members with the invaluable opportunity to connect with candidates running for vacant seats on the AmCham Board of Directors.Amidst friendly and relaxed atmosphere, attendees enjoyed listening to the candidates' speeches while sipping on cocktails, offering a refreshing break from their busy schedules.This year, there are 10 vacant positions on the Board, each vital for representing the business community effectively. Board members dedicate their time and expertise voluntarily to serve for a two-year term (2024-2026), with one member also being elected as President and Chairman of the Board of Directors.A total of 14 accomplished professionals stepped forward, each offering their unique vision and dedication to steer AmCham towards continued excellence. The list of candidates includes:Oscar Bogopolskiy, CEO of McDonald’s AzerbaijanZaur Allahverdizade, Head of Compliance Department for the MENATI and CIS regions and the Head of Baker Hughes Services Representative Office in Azerbaijan and GeorgiaDayanat Sadullayev, Chief of Staff, Member of Executive Committee at PASHA HoldingZaur Gurbanov, Vice-President of SOCARBabek H. Aghayev, Co-Founder & Chairman of the Board of Director of PROSOL CompanyKamil Valiyev, Partner and Co-Managing Officer at DentonsRana Mammadova, General Manager of Coca-Cola AzerbaijanKanan Tabasaranskiy, Founder of Smart Solutions GroupImran Ahmadzada, CFO of NEQSOL Holding & Head of NEQSOL Holding AzerbaijanNuran Kerimov, Managing Partner of Deloitte AzerbaijanShola Aliyeva, Group CHRO, Management Board Member at STP Group of CompaniesShirin Aliyeva, Chief Legal, Ethics and Compliance Officer, Member of Executive Team of Azercell Telecom Azer Babayev, Partner at EY AzerbaijanIgor Yakovenko, General Director of AZEL Systems Bear in mind that the elections themselves will take place at the Annual General Meeting(AGM) to be held on June, 2024.Click for highlights from the event. Click for all the media from the Event.

AmCham Human Resources “HR tech in Learning and Development” Webinar

On May 3, 2024, AmCham’s HR & Labor Committee organized an educating webinar on “HR tech in Learning and development”. The event was led and facilitated by SMART business representatives who are specialized in modern HR solutions.After the opening of the day, Mr.Ievgen Belobrov, Product Owner of SMART HCM & LMS and LMS, talked through their company vision and took the audience through the top priorities for HR Leaders in 2024 one of which is HR technology. After that, Mr.Belobrov talked through the difference between upskilling and reskilling and in which cases, the companies can utilize these approaches to create business value and better employee engagement and development. The session continued what E-learning means, what it covers and how modern world demands this digital approach to employee development. The largest part of the session was dedicated on Individual Development Plans (IDPs) – a learning agreement between the employee and their employer on employee’s goals for growth and development. Its elements, benefits, and monitoring process were heavily discussed. One of the important points made was how IDPs can turn into investment in the employees and the future of the organization. The session was held interactively with different live polls to get event participants’ feedback on different phases in employee development in their companies and people also had the opportunity to ask questions and share insights at the end of the webinar. 

AmCham Executive Director Ms. Gulnara Aslanbayli participated in ACE Conference in Washington, D.C., and Miami

AmChams in Europe (ACE), representing 50 American Chambers of Commerce from 48 countries, held its annual U.S. delegation conference from April 22 to 26, 2024, in Washington, D.C., and Miami. Ms. Gulnara Aslanbayli represented American Chamber of Commerce in Azerbaijan among the 41 AmCham Executives from 31 countries present in the conference. The ACE Conference serves as a platform to bolster awareness of AmChams in Europe, foster partnerships, and gain insights into the prevailing U.S. business and political landscape. Throughout the event, participants engaged in high-level discussions, met with key decision-makers, and visited government institutions and corporate headquarters.The conference commenced with a dynamic session at the U.S. Chamber of Commerce, featuring notable speakers such as Suzanne Clark, President and CEO of the U.S. Chamber of Commerce, and Marjorie Chorlins, Vice President of European Affairs at the U.S. Chamber of Commerce and others. Discussions covered strategic insights on various topics, including the U.S. economy, geopolitical risks, and transatlantic cooperation.Notable highlights of the conference included dialogues at the U.S. Department of Commerce and the Atlantic Council, where participants gained valuable insights into transatlantic relations and the upcoming U.S. elections. The conference also featured engaging discussions on key sectors for cooperation, including energy, AI, cybersecurity, and defence.In Miami, the ACE delegation explored opportunities for international business and trade with organizations such as the Greater Miami Chamber of Commerce and the Royal Caribbean Group. These discussions focused on sectors vital to Miami's economy, including infrastructure, tourism, and technology.As the conference concluded, participants left with a renewed sense of purpose and anticipation for future collaborations. The event underscored the significance of transatlantic cooperation and highlighted the role of AmChams in fostering robust business environments on both sides of the Atlantic.Gulnara Aslanbayli expressed her enthusiasm about the outcomes of the ACE Conference, stating, "The conference provided invaluable opportunities to strengthen partnerships and gain insights into key issues shaping transatlantic relations. We look forward to building on these discussions to drive growth and prosperity for our member organizations."The ACE Conference in Washington and Miami marked another successful gathering of AmChams in Europe, setting the stage for continued collaboration and progress in the years ahead.

AmCham Azerbaijan held its second event on Stakeholders' Dialogue for Climate Change – Sustainable supply chain practices.

Within the framework of preparation for the 2024 UN Climate Change Conference, AmCham Azerbaijan is hosting a series of six events titled "Stakeholders' Dialogue for Climate Change." This initiative is designed to foster dialogue, awareness, and collaboration among businesses in Azerbaijan in preparation for the upcoming UNFCCC COP 29 event, to be held in Azerbaijan in November 2024. Building on this initiative, on April 16, 2024, AmCham Sustainable Development & Corporate Impact Committee organized a joint meeting with Procurement Committees on discussing the sustainable supply chain practices for the further growth of the businesses.The meeting was opened with the welcome notes from Ms. Gulnara Aslanbayli, AmCham Executive Director, Mr. Jeyhun Atayev, Deputy Chairperson of SD&CI Committee and Ms. Natavan Mamedova, Deputy Chairperson of Procurement Committee, who welcomed guests and gave them brief overview on the “Stakeholders' Dialogue” initiative.Welcome address by Port of Baku Chief Operations Officer, Mr. Eugene Seah and Program Manager for Sustainable Development Initiatives, Mr. Gurban Karimbayli, highlighted the role of ESG-related activities in the implementation of the port's development strategy. Later, Mr. Mahammad Aliyev, Port of Baku Projects Manager, shared an overview of green solutions in the port operations.Afterwards, team members of BP Azerbaijan - Nurlan Mahmudov, Advanced Drilling Fluids Plant Manager and Ms. Narmin Jafarova, Drilling Fluids Analyst, shared their presentation on how to minimize waste, maximize resource efficiency and promote sustainable practices across operations by incorporating circular economy principles into business model.The second guest speaker, Maria Teresa Pisani, Chief of Trade Facilitation Section under Economic Cooperation and Trade Division of the United Nations Economic Commission for Europe, made presentation on exploration of the benefits for businesses from sustainability practices in supply chain management- with the special focus on global experiences, particularly in developing and transit countries.The presentations were accompanied by the Q&A sessions and after the closing remarks, the meeting participants had the tour to Port of Baku facilities.AmCham Sustainable Development & Corporate Impact Committee meetings, a pivotal part of the series, delve into crucial topics such as understanding the significance of the UN Climate Change Conference for business circles in Azerbaijan, sustainable supply chain practices, role of corporate governance in eco-friendly business operations, global non-financial reporting practices vis-à-vis the Azerbaijani legal framework, legal regulations surrounding Azerbaijan's ESG Agenda, as well as available tax incentives. Additionally, discussions explore the status and prospects of the circular economy in Azerbaijan.It should be noted that AmCham Azerbaijan recognizes the critical importance of businesses in addressing global challenges such as climate change. As Azerbaijan approaches COP29, it is imperative for businesses to understand their role in shaping climate policies, contributing to sustainability efforts, and leveraging opportunities for innovation and growth. February committee meeting aims to elucidate why businesses should actively participate in COP29 and how their engagement can yield mutual benefits. By fostering dialogue and collaboration among businesses, policymakers and stakeholders, the Chamber seeks to catalyze meaningful action towards a more sustainable and resilient future.

AmChams in Eurasia Forge Collaborative Pathways for Regional Prosperity

On March 28, 2024, Leadership representatives from American Chambers of Commerce (AmChams) in Azerbaijan, Bulgaria, Georgia, Greece, Kyrgyzstan, Tajikistan, Turkey, and Uzbekistan engaged in an important meeting fostering regional growth and collaboration. Discussions centered on organizing regular regional events and trade missions to stimulate bilateral business opportunities, while also emphasizing knowledge exchange in areas such as public-private dialogue, advocacy, and sustainability. The meeting identified sector-specific collaboration opportunities in energy, healthcare, manufacturing, and tourism, with a focus on advocating for federal support to bolster AmCham membership and engagement. Additionally, engagement in middle corridor initiatives was highlighted to enhance infrastructure development and regulatory alignment.The event underscores the collective commitment of AmChams to drive regional prosperity and growth. 

AmCham Human Resources and Labor Committee's April meeting

On April 2, 2024, AmCham’s HR & Labor Committee organized an engaging event on “Retention and Engagement”. The event started with the presentation of Ms. Cagla Gurdal, Head of Rewards Data Intelligence of WTW, capturing the overview of attraction and retention trends in Azerbaijan.Guest speaker Ms. Elnara Mammadova, BP Vice President People and Culture for the AGT region and Russia, spoke about retaining and engaging talent in a challenging market, sharing practical solutions from bp experience. Ms.Mammadova focused on the importance of setting vision, empowering, creating culture and assessing employee needs.Guest speaker Mr. Mehman Heydarov, Project Leader of Talent Management Department in Kapital Bank spoke about company’s strategy to retain talents. He focused on the role of EVP, on engagement tools applied within the company, highlighting the role of listening, developing and rewarding talents. Event participants had the opportunity to ask questions and exchange ideas on retention and engagement strategies. 

AmCham's Marketing, Communications and Business Development (MCBD) Committee's March Workshop

On March 29, 2024, AmCham Marketing, Communications, and Business Development (MCBD) committee hosted its March Workshop dedicated to “Redefining Business: Generative AI's Influence on Marketing & Sales Tactics and Product Evolution”. The guest speaker of the workshop was Mr. Emin Aliev, Chief Business Development Officer (CBDO) of Evido. Firstly, Ms. Aysel Suleymanova, Chairperson of MCBD committee, extended a warm welcome to all participants, introduced the guest speaker, and provided a brief overview of the meeting.Afterwards, Mr. Emin Aliev took the stage to deliver an informative speech on “Redefining Business: Generative AI's Influence on Marketing & Sales Tactics and Product Evolution”. During his presentation, Mr. Aliev comprehensively talked about how Generative AI will enhance customer service, marketing, and product development for humans. The workshop was concluded with an engaging and interactive Q&A session, where participants had the opportunity to exchange their views and share valuable insights.