Tashkent, Uzbekistan (UzDaily.com) -- In accordance with the recommendations of the strategy consultant - BCG and the corporate governance consultant - PwC, involved in Uzbekneftegaz JSC, the ESG responsibility center was established in the joint-stock company.

The task of the new structure (ESG-Center) is to introduce advanced ESG standards into the company’s business processes.

As part of the transformation of Uzbekneftegaz, in accordance with the current international ESG agenda, the company has begun work on systematizing and disclosing activities in environmental, social and management areas (environmental, social and corporate governance). 

During the meeting, the company’s efforts in all ESG blocks were emphasized. At the same time, in accordance with the best practices of leading oil and gas companies, an "E" comparison of indicators for greenhouse gas emissions, emissions associated with the use of electricity and water consumption, as well as for reducing the carbon footprint was carried out.

The significant contribution of Uzbekneftegaz to the social climate of the country (block "S") is emphasized - the company sets high requirements for the observance of labor safety by employees, support for their families and youth, as well as for the provision of the social sector in the regions.

As a result of the discussions, the participants agreed on a sequence of steps in the following areas:

• correct formation of the company’s ESG goals;

• detailed revision of the roadmap for the implementation of ESG activities;

• preparation of ESG reports;

• obtaining an ESG rating.

In order to implement the above activities, the ESG Center decided to create a separate unit with full-time specialists in the field of sustainable development, as well as to attract an expert consultant with an international reputation and significant experience in leading oil and gas companies to coordinate the work on ESG.