Timur Tillyaev makes ESG the focus of his business practices

Timur Tillyaev makes ESG the focus of his business practices

As a businessman who has found success in the competitive world of international transport, Timur Tillyaev knows what a winning business model looks like. In his business practices, Timur has made sustainability and ESG a priority. Through the model of ESG, Timur takes into account the Environmental, Social and Governance aspects of any commercial activity before embarking upon it. Timur believes ESG is a key component of any successful venture. He says:

“Companies are now increasingly expected to disclose their carbon footprints, set bold greenhouse gas reduction targets and report on how climate-related risks, such as potential loss of revenue from extreme weather events, can undermine future prosperity.”

Sustainable investment is not a fringe world view anymore. There is widespread concern about the growing negative impact of climate change on our world. According to The World Bank, a growing number of studies are showing that it could be disastrous for the bottom lines of companies around the world if global temperatures jump four degrees by 210.”

Climate change is causing diverse and far-reaching negative consequences. For example, in Australia we are witnessing shifting weather patterns which is leading to intense droughts and associated bush fires. This in turn is wreaking havoc on local economies, food production, the mining sector and tourism. The knock-on effects include reduced employment opportunities, loss of income and rising cost of living pressures. Because of this, we are seeing a rise in ESG investments. Timur Tillyaev says, “The rise of ESG is not just a trend, but an essential shift in practices for responding to the climate crisis.”

So, what changes are investors like Timur implementing?

One example of ESG in action is the Abu Saxiy market in Uzbekistan’s capital city Tashkent. When Timur founded the market in 2006, it had 680 abandoned shipping containers converted into stalls. When he sold it in 2017, it had grown into the largest market in Uzbekistan spanning 60 acres and housing 3,000 stalls.

Repurposing shipping containers allowed Timur to avoid the use and transport of construction materials. Consumption of concrete is a major contributor to the global greenhouse gases and a driver of climate change. Recycling shipping containers is a simple and cost-effective means of sustainable business practices, and just one example of the change underway in the business community.

As Timur Tillyaev wrote in his article, Why Sustainable Investing Is Here to Stay, ESG certified projects are attracting a phenomenal level of interest from investors.

“575 investors with more than $54 trillion in assets under management have signed up to the Climate Action 100+ initiative. Investment in sustainable funds reached record highs in 2020 at over $51 billion, more than double the previous record set in 2019.”

Trends like these suggest that investors like Timur Tillyaev are paving the way towards a new mainstream in the business world.

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