Azerbaijan Airlines (AZAL), a part of AZCON Holding, and the
Asian Development Bank (ADB) have signed a Memorandum of
Understanding, marking the launch of the “ESG Operationalization”
Technical Assistance Project and deepening cooperation in the field
of sustainability.
The project aims to ensure the systematic integration of
sustainable development principles into the airline’s
environmental, corporate governance, and operational processes,
enhance business value, and expand sustainable investment
opportunities.
The MoU was signed by Samir Rzayev, President of AZAL CJSC, and
Sunniya Durrani-Jamal, ADB Country Director for Azerbaijan. The
ceremony was attended by Enrico Pinali, ADB Regional Director,
along with representatives of AZAL and ADB.
The launch of the ADB-financed Technical Assistance Project and
the signing of the MoU are dedicated to International Civil
Aviation Day, celebrated on 7 December. Within the one-year of ESG
Operationalization Project, ESG principles will be integrated into
the airline’s key management and operational processes.
The project will support ESG integration, sustainable financing
tools, green aviation initiatives, biodiversity-focused projects,
capacity-building, and the development of an enhanced reporting
framework.
“This cooperation with ADB marks an important milestone in
implementing our sustainable development strategy. AZAL places
particular emphasis on adopting ESG practices, expanding investment
opportunities, and strengthening partnerships with financial
institutions. By aligning our operations with Azerbaijan’s national
development goals and global challenges, we are committed to
contributing to the sustainable transformation of the aviation
sector. We are confident that this joint project will further
advance financial initiatives and provide new momentum for the
development of sustainable aviation in Azerbaijan and the wider
region,” said Samir Rzayev, President of AZAL CJSC.
“The Asian Development Bank is delighted to expand its
partnership with Azerbaijan Airlines by providing technical
assistance to advance sustainability in the aviation sector
through. These efforts reflect our shared commitment to integrating
environment, social and governance- principles into core business
operations, to foster resilient growth of AZAL. Together, we aim to
drive meaningful progress in green and smart aviation for
sustainable development of Azerbaijan,” said Sunniya Durrani-Jamal,
ADB Country Director for Azerbaijan.
Additionally, ADB and AZAL are exploring further areas of
cooperation, including low-carbon initiatives, emission offset
programs, green financing instruments, and biodiversity
projects.
This new partnership offers long-term prospects for implementing
AZAL’s ESG strategy and its Net/Near Zero Emissions Plan. The
airline also aims to strengthen its position by enhancing regional
connectivity, developing new partnerships, analysing ESG-related
data, integrating climate risks into investment projects, advancing
the application of international standards, and improving
transparency and accountability.
