This initiative was part of efforts to develop capacity in sustainability-related education, public sector reporting, and audit quality assurance to support sustainable economic growth. The conference, attended by around 90 participants representing the banking and accounting professions, auditors, investment companies, public officials, academia, bank board members, and audit committee members, aimed to deepen understandings of sustainability reporting, disclosures, and governance practices for the financial and public sectors. It also sought to encourage dialogue and collaboration among policymakers, regulators, professional bodies, and educators to strengthen environmental, social, and governance (ESG) integration across financial reporting, oversight, and accountability frameworks.

Over two days, a series of presentations, panel discussions, and interactive sessions explored the integration of ESG principles into accounting, auditing, and financial management, highlighting their importance for the future of financial governance. The discussions involved international partners, such as the World Bank, the Deutsche Bundesbank, the International Federation of Accountants (IFAC), KPMG Armenia, and local experts, including the Ministry of Finance. The CFRR provided an expert speaker who explained ESG risk assessment frameworks, sharing valuable insights and best practices with participants. This initiative was supported through the Enhancing Accounting, Auditing, and Sustainability Reporting (EAASURE) regional program co-funded by the Austrian Ministry of Finance, the Swiss State Secretariat for Economic Affairs (SECO), and the Austrian Development Agency (ADA) and implemented by the CFRR.

Conference topics included:

• Sustainability reporting and disclosure frameworks, green finance, and ESG strategies tailored to the financial and public sectors.
• The integration of ESG principles into accounting and auditing education.
• Strengthening audit oversight and quality assurance in sustainability reporting.
• Governance and accountability in financial institutions and state-owned enterprises.
• Public sector accounting and auditing reforms for enhanced transparency.
• Interoperability between financial statements and sustainability disclosures.
• IFAC’s global perspective on building trust in sustainability reporting.
• ESG trends in banking, including sustainable finance, greenwashing risks, ESG strategies, and global/regional developments.
• Armenia’s ESG reforms, ratings, and data analytics.
   

Participants engaged in open discussions and experience-sharing sessions, fostering collaboration. The discussions underscored that sustainability reporting is not only a regulatory or ethical imperative but also a driver of economic resilience and institutional accountability. Reliable, high-quality data was highlighted as essential for credible reporting and informed decision-making, with participants emphasizing the need for accurate sustainability databases. The integration of ESG considerations into financial supervision and oversight was identified as crucial for aligning sector practices with broader sustainability goals and risk management frameworks. Furthermore, the conference stressed the importance of a country-wide approach to sustainability reporting to ensure consistency, comparability, and comprehensive coverage across all sectors. It was important for Armenia to select the right sustainability regulations and directives and tailor them to national priorities and institutional capacities to ensure effective implementation and long-term impact.

The conference was very well received by participants. Attendees commended the relevance and timeliness of the theme, the quality of presentations, and the depth of discussions across all sessions. Many appreciated the opportunity for knowledge sharing and networking among professionals, policymakers, and academics. The event was described as insightful, well-organized, and impactful in advancing understanding of ESG integration within the accounting, financial and public sectors.