Advancing ESG reporting in Azerbaijan: Trends, challenges, and opportunities

One of the most significant trends in the development of the global economy is the integration of ESG (Environmental, Social, and Governance) principles into the operations of businesses and financial institutions. This paper aims to examine the trends and perspectives of implementing ESG principles within the Azerbaijani economy. The research methodology applies stakeholder and institutional theories to develop a conceptual framework that guides the understanding of ESG reporting in Azerbaijan, includes comparison, generalization, economic, institutional analysis. Based on the findings, it is concluded that the successful implementation of ESG principles in the Azerbaijani economy requires a thorough analysis and evaluation of current trends, key characteristics, and future opportunities within both the Azerbaijani and global economies.