A lecture titled "Central Bank of Armenia's Biosustainability Agenda" was delivered at the YSU Faculty of Economics and Management by Gayane Vardanyan, Project Manager at the Financial System Development Center (Department of Financial System Stability and Regulation) of the Central Bank of Armenia and Doctor of Economics.
The meeting addressed current issues of biosustainability and sustainable development, as well as their significance within the financial system. Students were introduced to the concept of sustainable development, which is based on economic growth without harming the environment and neglecting the interests of vulnerable groups in society. In this context, particular attention was paid to ESG principles, which are now considered key components of responsible and long-term management.
The three main components of ESG were presented: environmental, social, and governance, along with their importance in modern organizations and the financial sector.
The environmental component covered policies aimed at environmental protection, ecological safety in production processes, and the responsible use of natural resources. The social component emphasized the development of responsible and inclusive approaches toward employees, customers, and various groups in society. The governance component highlighted the importance of effective corporate governance, transparency, protection of rights, and compliance with established standards.
The measures implemented by the Central Bank to assess, manage, and mitigate climate-related risks were also presented. It was emphasized that the main objective of these initiatives is to contain potential risks in the financial sector and ensure systemic stability. The discussion also covered climate risks in Armenia, their economic and social consequences, and the need for coordinated action between state and financial institutions.
The event was attended by first-year students from the faculty's "Finance" program and second-year students from the "Management" program. The discussion took place in an open, active, and interactive atmosphere, with strong student engagement and participation. The event was organized at the initiative of Hasmik Dovlatyan, Assistant Professor, PhD in Economics, at the YSU Chair of Financial Accounting.
