Sustainable Fitch has maintained SOCAR's ESG rating at "3"

The international rating agency Sustainable Fitch has maintained SOCAR's ESG rating at the level of "3," raising the company's assessment score from 41 to 43.

As reported by SOCAR, the agency noted improvements in the environmental, social, and corporate governance system, as well as the expansion of ESG information disclosure.

According to the assessment, these results demonstrate SOCAR's commitment to leading international standards and practices of corporate reporting. The company also takes into account the expectations of international investors and financial institutions regarding transparency, comparability, and quality of disclosed information.

Sustainable Fitch noted SOCAR's achievements in reducing greenhouse gas emissions and developing a systematic approach to environmental impact management. Despite the environmental challenges typical of the oil and gas sector, the company continues to improve its activities in the areas of decarbonization and environmental responsibility.

In the social component of the assessment, corporate approaches to the protection of human rights and regulation of labor relations based on international standards were taken into account. The agency also noted SOCAR's initiatives in supporting local communities.