SOCAR AQS becomes Global Reporting Initiative Community Member

Fri 08 Nov 2019 11:16 GMT | 15:16 Local Time

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SOCAR AQS is the first company in Azerbaijan to join the Global Reporting Initiative (GRI) Community, which develops international standards for sustainability reporting and transparency.

Through GRI the company applies cutting-edge standards for enhancing transparency and reporting, which are regarded as important factors in economic development, advanced management, establishing forms and methods, improving monitoring systems and data infrastructure.

Ramin Isayev, CEO of SOCAR AQS highlighted that current global economic processes, globalization and other global factors require a number of important steps to be taken to improve reporting and transparency. “Considering reporting and transparency as one of the most important parts of its work, SOCAR AQS consistently applies the highest world class standards in its reporting processes.

The reports we produce in line with the GRI standards gurrantee the trust of all its stakeholders, including customers, investors, suppliers and community in fully established transparent environment of the company. The GRI membership of the company will significantly contribute to the strengthening the company's corporate image globally.”

The GRI, founded in 1997 and headquartered in Amsterdam, is the world's leading international organization for reporting standards. The GRI encourages public institutions, private sector and civil society to adopt criteria for transparency and reporting in their activities as requested by international standards.

It should be noted that the application of GRI standards in any institution has a significant impact to identify risks and management, enhancing constructive relationships with stakeholders, increasing competitiveness, reputation and confidence.

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