Conference on ESG Instruments in Capital Markets Held under the Capital Market Support Programme
September 23, 2025
On September 23, 2025, a conference was held at the Marriott Hotel Yerevan under the Capital Market Support (CMS) Programme, focusing on the role of Environmental, Social, and Governance (ESG) instruments in the development of Armenia’s capital markets. The event gathered corporates, policymakers, financial institutions, and international experts to exchange perspectives on how ESG tools can foster sustainable growth and attract investment.
The conference featured keynote addresses and interactive discussions, with Aleksandr Shaghikyan, Partner & Head of Advisory at BDO Armenia, emphasizing the evolving importance of ESG instruments in strengthening Armenia’s financial landscape. The session introduced participants to ESG-related instruments, explained how the Green Bond market works, outlined standard issuance procedures, and highlighted post-issuance requirements and reporting.
A panel discussion, moderated by Mr. Shaghikyan, further explored opportunities and challenges in developing ESG instruments in Armenia. Panelists included:
- Davit Manukyan, Principal Banker, EBRD
- Tamta Gorgadze, Head of Advisory, Galt & Taggart
- Shushanik Hovsepyan, Head of Capital Markets, Ameriabank
- Marianna Gyulumyan, Deputy CFO, Telecom Armenia
This conference formed part of the ongoing CMS Programme, a joint initiative of the European Bank for Reconstruction and Development (EBRD) and the European Union (EU). The Programme is implemented by Galt & Taggart and Ameria Management Advisory, in partnership with the Ministry of Economy of Armenia.
All potential issuers of capital market instruments are encouraged to apply to the CMS Programme. Registration is open until September 30, 2025. Interested parties can register via the official website of the Programme: www.cms-armenia.ebrd.com.
