20 business associations from both sides of the Nistru River have publicly committed to supporting and promoting ESG (Environmental, Social, and Governance) principles by signing a joint declaration.

The signing ceremony took place during an event that brought together 70 representatives from public authorities, the business community, financial institutions, development partners, entrepreneurial support organizations, and experts. Participants discussed the role of ESG principles in strengthening companies’ competitiveness, access to financing, exports, and alignment with European standards.

“Adopting ESG principles provides companies with an increasingly important competitive advantage in a continuously evolving global economy. More and more investors, business partners, and customers are paying attention to how companies manage environmental, social, and governance issues. We welcome the commitment of business associations on both banks of the Nistru River to promote these principles and contribute to the development of a modern, responsible, and sustainable economy. We will continue to support the business community through tools, information, and initiatives that facilitate the adoption of ESG standards and help companies capitalize on the opportunities they offer,” said Oleg Bivol, State Secretary at the Ministry of Economic Development and Digitalization of the Republic of Moldova. 

“For the members of the Moldova Banks Association, the ESG agenda represents an essential component of the responsible development of the banking sector, contributing to stronger governance, prudent risk management, and directing financing toward sustainable projects. Banks play an important role in supporting the transition to a more resilient, transparent, and inclusive economy, while cooperation with development partners, including United Nations Development Programme, is highly valuable in accelerating these processes,” stated Dorel Noroc, President of the Moldova Banks Association. 

Through this initiative, UNDP, the European Union, Sweden, and the United Kingdom are supporting the entrepreneurial community on both banks of the Nistru River as it aligns with international sustainability reporting standards and capitalizes on the benefits of integrating ESG principles into its operations. 

These benefits include access to green financing, the promotion of innovation, and integration into European value chains. All of these topics are addressed by the “ESG for Strong Businesses” information and awareness campaign, which is designed to familiarize companies with the advantages and opportunities offered by sustainable practices.

With financial support from Sweden and the United Kingdom, UNDP has helped raise awareness and build capacity in the field of ESG, involving more than 180 companies and key stakeholders on both banks of the Nistru. 

These efforts contribute to the development of the ESG ecosystem in the Republic of Moldova by fostering public-private dialogue, assessing the needs of the business community, and developing future support tools, including pilot ESG reporting exercises and practical guides for companies. 

Recently, with support from the EU and UNDP, a section dedicated to ESG was developed on the website of the Ministry of Economic Development and Digitalization.

Access here the press-release in Russian.