Basic Approaches to Counterparty’s Reliability Assessment Under Implementation of ESG Technologies

Anna Rumyantseva, Natalia Lazareva and Elena Goncharova
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Anna Rumyantseva: Saint-Petersburg University of Management Technologies and Economics
Natalia Lazareva: Saint-Petersburg University of Management Technologies and Economics
Elena Goncharova: Saint-Petersburg University of Management Technologies and Economics

A chapter in Finance, Economics, and Industry for Sustainable Development, 2023, pp 7-16 from Springer

Abstract: Abstract With the growth of environmental problems in the global economic space, the problems of “green” and social planning and corporate governance become particularly important. In Russia, ESG (environment, social, governance) concept is at an initial stage, gradually being introduced into the economic system. Most foreign companies are already guided in their activities by ESG concept, striving to increase or maintain a high level of business reputation. In this regard, this article aims to study the problems of forming comprehensive partnerships, the planning and implementation of which should be based on a set of criteria: a favorable credit history, a company’s rating in the industry, a business reputation, as well as non-financial indicators constituting the ESG-concept of the company’s development. Even if a company’s credit history and a reliability rating are often used and sufficiently researched, the ESG indicators are not considered by many Russian companies as significant during the contract drafting, in the process of doing business, and therefore are little applied and insufficiently studied. The aim of the research was to identify key factors which are used to determine counterparties’ reliability, to develop a unified concept of establishing criteria for counterparties’ reliability assessment, for the prevention of possible entrepreneurial risks. The significance and rationale of the research are defined by the implementation of new laws and regulations that introduce the term “technical company” (1-day firm), inform about counterparty’s reliability assessment, the companies’ responsibility for interaction with unscrupulous economic agents. The participants in the research were respondents closely related to the field of business, economy, financial market, living in Russian Federation and abroad. The materials were collected in Saint Petersburg. The data were collected via Google Form. The collected materials were analyzed and systematized and the conclusions were made according to the results.

Keywords: Counterparty; ESG technologies; Financial strategy; Company rating; Counterparty’s reliability; Non-financial reporting (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:spr:prbchp:978-3-031-30498-9_2

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DOI: 10.1007/978-3-031-30498-9_2

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