ArmInfo.On October 20, the Corporate Governance Center’s new initiative, the first ESG school for young entrepreneurs in Armenia, concluded.
According to the Center’s Director Narine Melikyan, the idea of the School emerged from a reevaluation of the role of companies in the modern business world. Companies are no longer solely economic entities. Their social and environmental impact, as well as how they make money, are now in the spotlight. From this perspective, it is in the interest of companies to, as soon as possible, give due attention to environmental, social, and good governance (ESG) factors, for instance, managing climate change, resource efficiency, waste reduction, introducing the principles of diversity and inclusion in labor relations, respecting fundamental human rights, and corporate governance and conduct matters. By incorporating these issues into the business agenda, companies build their long-term success. This does not only concern large companies. It is also urgent for small and medium enterprises. If for large companies the emphasis is on achieving attractiveness for investors, in the case of SMEs - their establishment and additional growth opportunities.
The Center’s Director detailed that the ESG school was considered an educational platform the mission of which is to prepare a new generation of business leaders who will be able to take responsibility for overcoming stereotypes in Armenia’s business sector and become a driving force for positive changes. According to her, this is an ambitious, but feasible mission. From this perspective, the focus on young entrepreneurs or young people with business ideas is not accidental, because they are sensitive enough to sustainable development issues, free from stereotypes, flexible to changes, and have a creative mindset. These characteristics make it possible to think that young entrepreneurs are capable of taking on the difficult role of creating and disseminating a new business culture.
Narine Melikyan added that the ESG school is not a one-time initiative of the Center. It will be conducted on a regular basis. In addition, the School graduates will have the opportunity to participate in other initiatives and activities of the Center in order to continuously develop their knowledge and abilities, and the top-performing ones will be included in the Business Integrity Club led by the Center. According to the Center’s Director, the ESG school graduates can infuse new life and energy into the Club’s activities and at the same time learn from the business practices of the experienced Club participants.
In relation to the ESG School’s curriculum, the Center's Director emphasized that it was designed with the objective of fostering participants’ theoretical and practical knowledge and abilities in sustainability, ESG issues, and various aspects of good governance. Both local and foreign seasoned professionals were involved as trainers. 22 people graduated from the first ESG school, 5 of whom were granted one year of complimentary membership in the Club.
Narine Melikyan expressed hope that the School graduates will start their ESG journey, and the Corporate Governance Center and Business Integrity Club will support them in this matter.