Accelerated Processing for Responsible Business: New Opportunities for Investors

The Association of Clusters, Technology Parks, and Special Economic Zones of Russia has proposed an initiative to simplify procedures for investment projects that have confirmed compliance with the Social Capital Standard.

At a recent meeting of the Methodology Council of the ANO “Public Capital,” the issue of taking companies’ ESG status into account when assessing their compliance with the Social Capital Standard was discussed, as well as the procedures for assessing organizations, and support measures for companies that have successfully completed the assessment.

The key proposal of the Association of Clusters, Technology Parks, and Special Economic Zones of Russia is to grant infrastructure sites the right to priority and expedited review of applications for the necessary permits and supporting documents.

Commenting on the initiative, Mikhail Labudin noted: “The introduction of administrative preferences for enterprises that comply with the Social Capital Standard will reduce the timeframe for investment project implementation and eliminate unnecessary bureaucratic barriers, creating a more favorable environment for industrial development in the regions.

At the same time, this will provide an additional incentive for infrastructure sites to undergo assessment according to the Standard as a tool for confirming their responsible business practices.”

Meeting participants agreed that support measures for companies meeting the Social Capital Standard should be based on adapting existing financial and administrative incentives. This approach will create a unified system for assessing and supporting sustainable businesses.

As a reminder, on September 18, Avangard Management Company became an ambassador for the Social Capital Standard, signing an agreement with the ANO Social Capital at the 3rd International Forum of Special Economic Zones.