British Chamber of Commerce Azerbaijan

PwC's High-Level Climate Champion team recently held a series of impactful meetings with Asian Development Bank (ADB), British Business Chambers of Commerce, and key market players in the renewable energy sector. From PwC Azerbaijan's side these valuable discussions coordinated by Leyla Sadikhova, our Senior Legal Manager, Sustainability and ESG Services, aimed to focus at strengthening our support for framing of local business content matters in connection with the upcoming climate change actions and COP29, with particular emphasis on climate finance and financial adaptation. At PwC, we're driving #sustainable solutions and fostering collaboration to tackle the critical challenges of #climate change. British Chamber of Commerce Azerbaijan John Patterson Candice McDeigan Sagarika Chatterjee Alida Saleh Rebecca Kershaw Marcia Toledo Sotillo

On May 14th, the BCCA and EY hosted the Annual Robin Bennett Award at the newly opened Jazz Club in Fairmont Baku, Flame Towers. We were honoured to present this award to our past Board Member, Mr. Turgay Teymurov, in recognition of his significant contributions to the business community and unwavering support of the Chamber. The award was presented by Mr. Ilgar Veliyev, Managing Partner of EY in Azerbaijan, alongside BCCA's Chairperson, John Patterson. We extend our heartfelt thanks to everyone at EY for their continued partnership and to Hillside Wine for their support. Check out some highlights from the event in our post.

Great week here in #Baku as part of the British Chamber of Commerce Azerbaijan CoP29 Trade Mission. A huge thank you to John Patterson, Chair BCCA and his team. It was a wonderful to spend time here with Malini Mehra Robert Heys Philip Hargreaves and Leyla Sadixova. Have learned a lot about Baku and the COP29 Azerbaijan Presidency’s plans and preparations for #CoP29. I think it is fair to say that when setting out for Baku, if you have not been before, you do not know what to expect. I have certainly been impressed. And I understand this is a common reaction from others visiting for the first time. It is a city and country that has done a lot to modernise and clean up its environment over the last 30 years. It is a safe, clean, efficient and secular city. You cannot underestimate the challenge the Azerbaijian Presidency has taken on. Most country’s have a lot more than 11 months to prepare and organise a CoP. It a huge undertaking in a short time. Announcements on key operational aspects are several months behind where they would normally be. This should not be a surprise in light of the shorter timeline Azerbaijian has had. However I felt that the Azerbaijiani’s are very aware of this reality and planning accordingly. I believe they are focusing where they need to and will prioritise. We should expect much more clarity on a range of critical areas in June during the UN Climate Change Inter-sessional meetings in Bonn. Such as the portal for booking accommodation and priorities for the negotiations. Great meetings with Azerbaijian’s High Level Champion Nigar Arpadari, Ministry of Ecology and Natural Resources team including Faig Mutallimov, Azpromo and the British Embassy in Baku amongst others. We were also privileged to attend and say a few words at the British Chamber of Commerce Azerbaijian monthly meeting. Azerbaijian sees itself as having a great opportunity to play the role of honest broker between key interests in the negotiations. There is a big focus on equality, mobilising business engagement especially the often overlooked SME sector, entrepreneurs especially women innovators. I was also able to discuss the critical role that insurance plays with the CoP29 team both as part of #climatefinance and as an enabler to unlock the climate finance needed for the resilient net zero transition. Despite the short timeline and logistical challenges there is a first rate CoP29 Presidency team with the expertise, experience and determination to deliver a successful and highly impactful CoP. Having experienced well over 20 CoPs since 2000 I am optimistic Azerbaijan will surprise the cynics and deliver a first rate impactful CoP. Joel John Derbyshire Nick Baker, Nargiz Nasirzade Zohrab Gadirov Natavan, Suleyman Babayev Kieran Reddington, Liya Bayramova Gullu Zeynalova Musa Ashimli Nigar Arpadarai

Extremely productive meeting on COP29 Azerbaijan today in #Baku with the Ministry of Ecology and Natural Resources of the Republic of Azerbaijan We discussed the critical role of de-risking & insurance within #climatefinance and as a critical enabler for the Climate Action Agenda Thank you to John Patterson and the great team at British Chamber of Commerce Azerbaijan for organising such a productive UK Azerbaijan CoP29 trade mission. #derisking #insurancebreakthrough #climateaction #climateaction

On May 14th, the BCCA Trade Mission from the UK to Azerbaijan (consisting of Malini Mehra of GLOBE - The Global Legislators Organization, Anthony Hobley of Howden, Philip Hargreaves of Carbonbit, Robert Heys of B&M Longworth Ltd) was hosted by the Ministry of Ecology and Natural Resources of Azerbaijan's Deputy Minister Umayra Taghiyeva, Advisor to the Minister Ilham Nasirov and Head of Environment Policy Division Faig Mutallimov. We thank the Ministry for this visit and look forward to further cooperation during and after COP29 Azerbaijan. #COP29 #Azerbaijan #WhereBusinessBelongs #BritishChambersofCommerce

A pleasure to meet with Malini Mehra , CEO of GLOBE- the world's largest parliamentary network dedicated to legislative leadership on climate change. Bold government policies and real economy leadership must reinforce each other, taking climate action to the next level. Orkhan Mustafayev

Arrived in Baku. Looking forward to meeting this week with the COP29 Azerbaijan team and local climate leaders. Thank you to John Patterson Chair of the British Chamber of Commerce Azerbaijan for organising this UK Azerbaijan CoP29 visit. Will be making the case for de-risking and insurance as a critical part of enabling climate finance as part of the finance CoP. #climatechange #breakthroughagenda Malini Mehra

We're extremely honoured & privileged to share that His Majesty King Charles III is the new Patron of the BCC. Our UK and global Chamber network is proud to be recognised in this way. Queen Elizabeth II served as our Patron for many decades. (Photo: Hugo Burnand/ Royal Household)

On April 17th BCCA held the "Building Bridges: Monthly Meeting" at the JW Marriott Absheron. The event featured esteemed speakers including HMA Fergus Auld OBE, who shed light on the Embassy's endeavors in Azerbaijan; Sam Mukhopadhyay, Head of COP29 UK Pavilion, who provided insights from COP29; and Chingiz Mursalov, who outlined AZAL's plans. Attendees engaged in a round of introductions hosted by BCCA Chairperson John Patterson OBE, allowing new community members to present themselves and their companies: Farchitects, IMPROTEX, IBIS, PMD Hospitality, R Group Holding, Additionally, the Chamber provided updates on forthcoming events and industries slated for focus this year, including the announcement of the Robin Bennett Award Nomination process, to be held jointly with EY. We thank all the participants for their time and look forward to seeing everyone next month.

We are thrilled to share news from the recent Workshop on Sustainable Finance in Azerbaijan, hosted by ACCA, in collaboration with the Azərbaycan Respublikasının Mərkəzi Bankı / Central Bank of the Republic of Azerbaijan (CBAR) and EY. Key stakeholders gathered to explore sustainability disclosure standards and their impact on the financial and corporate sectors. With over 100 participants representing diverse entities, including government bodies, financial institutions, and businesses, the workshop sparked engaging discussions on Azerbaijan's sustainability ambitions. Highlights included CBAR's keynote on sustainable finance principles, insights from the Ministry of Economy, and informative sessions on new sustainability disclosure standards by ISSB. ACCA and EY provided valuable training on IFRS S1 and S2, empowering finance professionals for a sustainable future. Vikas Aggarwal, ACCA's Regional Head of Public Affairs, expressed gratitude for the enthusiastic participation, emphasizing the growing importance of sustainable finance in Azerbaijan. Rustam Tahirov, Azərbaycan Respublikasının Mərkəzi Bankı / Central Bank of the Republic of Azerbaijan's Director of Financial Stability, stressed the significance of collaboration in achieving sustainable development goals. Victor Kovalenko, EY Partner, highlighted the increasing interest in sustainability and ESG disclosures among clients, underscoring the importance of international standards like IFRS S1 and S2. Susanne Dräger from the IFRS Foundation affirmed their commitment to supporting the implementation of sustainability standards. #SustainableFinance #ACCA #CBAR #EY #IFRS #Sustainability #Finance #Azerbaijan #Collaboration #PositiveChange #BritishChambersofCommerce #WhereBusinessBelongs