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.