Consultants from the Asian Development Bank (ADB) have completed a comprehensive assessment of Azerbaijan Airlines CJSC (AZAL) financial reporting in the areas of sustainability and climate, checking compliance with the global standards IFRS S1 and IFRS S2.
As a result of the analysis, key areas were identified where the company can further improve its sustainability and climate reporting.
The assessment was conducted under a Memorandum of Understanding signed between AZAL and ADB in December 2025 to launch a technical assistance program for implementing ESG (environmental, social, and governance) principles. The initiative aims to integrate sustainability standards into the airline's business processes, enhance long-term business value, and expand opportunities for attracting sustainable investment.
ADB organized a specialized practical seminar for company employees on implementing ESG principles and the IFRS S1 and IFRS S2 standards developed by the International Sustainability Standards Board (ISSB). More than 50 specialists from various departments of the AZAL group of companies, including financial, budget, and strategic departments, took part in the two-day training.
"The technical assistance program is ongoing and aims to bring the corporate reporting and operational activities of Azerbaijan's leading airline into full compliance with advanced international standards," ADB noted.
