Sustainable Fitch evaluates SOCAR’s sustainability profile
Business
Sustainable Fitch has assigned SOCAR its first ESG rating, giving the company an overall score of 3 and highlighting the maturity of its environmental, social and governance practices.
In November, the international rating agency Sustainable Fitch assigned the State Oil Company of Azerbaijan (SOCAR) its first ESG rating, assessing the company’s overall performance at level 3. According to the agency, the score reflects SOCAR’s stable and mature approach to environmental, social and governance matters.
The report notes that SOCAR has demonstrated an ability to balance emission-reduction targets with ongoing challenges related to environmental impact, diversity and governance transparency. The company’s strong risk-management framework was also identified as a major factor supporting the rating.
Sustainable Fitch emphasized SOCAR’s decarbonization goals, its consistent social profile and well-established risk-management processes as key contributors to the final assessment. The company’s integration into international ESG reporting standards further strengthened its rating.
The company stated:
“The assessment by Sustainable Fitch reflects SOCAR’s achievements in sustainable development and the alignment of its long-term strategic goals with the expectations of international investors.”
The report notes that SOCAR has demonstrated an ability to balance emission-reduction targets with ongoing challenges related to environmental impact, diversity and governance transparency. The company’s strong risk-management framework was also identified as a major factor supporting the rating.
Sustainable Fitch emphasized SOCAR’s decarbonization goals, its consistent social profile and well-established risk-management processes as key contributors to the final assessment. The company’s integration into international ESG reporting standards further strengthened its rating.
The company stated:
“The assessment by Sustainable Fitch reflects SOCAR’s achievements in sustainable development and the alignment of its long-term strategic goals with the expectations of international investors.”
Powered by Froala Editor