SOCAR received its first ESG rating from Sustainable Fitch

International rating agency Sustainable Fitch in November for the first time assigned the State Oil Company of Azerbaijan (SOCAR) a rating according to Environmental, Social Responsibility and Corporate Governance (ESG) criteria, evaluating the company's overall score at level "3".

This was reported to BAKU.WS by SOCAR.

This result reflects SOCAR's stable and mature ESG activities, and demonstrates the company's ability to balance emission reduction goals with existing challenges in environmental impact, diversity, and management transparency, in addition to risk management skills.

The State Oil Company's decarbonization goals, stability of social profile, and effective risk management system were identified as key factors in assigning the rating.

Additionally, SOCAR's integration process into international ESG reporting is one of the main factors that positively influenced the rating. "The assessment by the International rating agency Sustainable Fitch reflects SOCAR's achievements in sustainable development and the alignment of long-term strategic goals with the expectations of international investors," the company notes.