ASCO Supervisory Board approves Sustainable Development Report

The Supervisory Board of Azerbaijan Caspian Shipping Closed Joint Stock Company (ASCO) held its next meeting.

The meeting, attended by Supervisory Board members, the Board of Directors, and executives of ASCO, extensively discussed the long-term Strategy for 2022-2030. This strategy, developed with the support of a renowned international consulting firm, outlines potential scenarios for the company's future development. The meeting also addressed the need to improve ASCO's legal and corporate structure to mitigate potential risks.

The Supervisory Board approved the Sustainable Development Report for 2020-2021, which was audited by an international audit firm and reflects the company's achievements in social, environmental, and economic areas.

The meeting reviewed and approved the forecasted budget indicators for 2023 and discussed the establishment of an Internal Audit Department within ASCO.

Furthermore, the Supervisory Board decided to renew the composition of its advisory committees.

Other issues related to ASCO's current operations were also discussed and addressed.

The Supervisory Board of Azerbaijan Caspian Shipping Closed Joint Stock Company was established according to the Presidential Decree of February 11, 2021.