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State Oil Company of Azerbaijan Republic (SOCAR) statement on biodiversity conservation


17/09/2024

Introduction

At SOCAR, we acknowledge the importance of biodiversity conservation and the role we play in mitigation of the adverse impacts of climate change. As a leading energy company in the region, we are committed to integrating biodiversity considerations into our operations, projects, and decision-making processes to minimize the impact of our activities on biodiversity.

This Statement has been established based on SOCAR's Statement on Environmental Protection Goals approved by Order No. 14-2/3-1I-116/2024 dated July 5, 2024. The following commitments of the current Statement are applicable to all entities within the SOCAR Group.

Our commitments:

ensuring compliance with all relevant national legislative documents, as well as relevant international standards and best practices related to biodiversity conservation and sustainable development;

conducting timely risk assessment and ensuring effective management of biodiversity risks associated with our operations, while taking actions to decrease and prevent adverse impacts on biodiversity;

expanding our relations with the government, local and international partners, NGOs, local communities and other stakeholders including our contractors and suppliers to promote dialogue on biodiversity conservation;

ensuring integration of biodiversity considerations into our operational plans, projects and commitments;

avoid operational activities in areas (land and sea) rich in biodiversity or/and inhabited by vulnerable, endangered or threatened species of flora and fauna listed in the Red Book.

Actions:

conducting biodiversity baseline studies and impact assessments for new projects to identify and appropriately manage any biodiversity related risks;

developing and implementing biodiversity management plans for our operational sites and projects to protect and enhance biodiversity conservation;

carrying out continuous monitoring and evaluation of the impact on biodiversity and implementing actions to enhance our contribution to biodiversity conservation.

providing training and capacity-building programs for our employees, contractors, and partners to raise awareness on biodiversity conservation and management;

implementing habitat restoration initiatives to enhance biodiversity resilience;

implementing biodiversity offset measures to compensate for unavoidable impacts on biodiversity;

establishing robust monitoring and reporting mechanisms to track our performance, including establishment of SOCAR’s indicators and targets regarding biodiversity, as well as report transparently on our progress annually.