The Association of Clusters, Technoparks and SEZs of Russia proposed to include Bashkortostan among the pilot regions for testing the standard of public capital on the basis that its special economic zone (SEZ) “Alga” is one of the best industrial sites for the effective implementation of the principles of sustainable development. This was discussed at a meeting of the Council on Methodology of the NGO “Public Capital”, chaired by Boris Titov, Special Representative of the President of Russia for Relations with International organizations for achieving Sustainable Development Goals.
– We have extensive experience in implementing ESG policy on the territory of infrastructure sites. In 2022, we became the first in Russia to publish our non-financial statements in the public domain. This significantly increased the level of trust on the part of potential investors in the management company and attracted new investments. The new standard will enhance this effect,” Nail Gabbasov, General Director of the management company of the Alga SEZ, the Development Corporation of the Republic of Bashkortostan, comments.
The new standard of public capital takes into account the contribution of enterprises to the realization of the country’s national goals, support for social programs, care for employees and environmental protection. It aims to unify existing standards in the field of sustainable development and become a universal tool for disclosure of non-financial statements. The task of developing it was set by Russian President Vladimir Putin in 2023, and in May 2024, the Supervisory Board of the Agency for Strategic Initiatives approved the first draft of this document.