ESG-strategizing of industrial companies: domestic and foreign experience

A. S. Khvorostyanaya ()

Russian Journal of Industrial Economics, 2022, vol. 15, issue 3

Abstract: Strategic development of social and economic agenda in corporate sector of economy is a noticeable trend. Strategic leadership of the companies in the 21st century is impossible without consideration of the economic and public efficiency issues. Investors tend to study non-financial factors within the investment analysis to reveal non-system risks and find strategic opportunities for growth. ESG-strategizing deals with extensive directions of the company activities such as human resources policy, ethics, corporate management, corporate social responsibility, responsible investment, etc. Achieving high results in ESG-strategy triggers development of the company strategic brand, builds up long-term loyalty of the employees, investors and government agencies, as well as increases the trust of local residents in the regions of the company’s presence. The author applies the methods of analysis and synthesis, comparison and generalization. The article contains analysis of the best practices of the implementation of ESG-standards into the activity of domestic and foreign companies in different industrial sectors including automobile, oil and gas, mining and creative industries. Basing on the conducted industry benchmark the author has developed conceptual architecture of ESG approaches’ implementation into the company development strategy. Such documents of the strategy as the mission and the vision should point out the company’s commitment to ESG principles. Considering the importance of communicating information to different actors correctly, the author adduces a set of tools of the strategic communication system. Use of the strategic communication system for promoting ESG-standards should be directed towards both the external and internal environments of the company. Digital tools of strategic communication meet the criterion of zero hydrocarbon emission in the most appropriate way.

Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:ach:journl:y:2022:id:1064

DOI: 10.17073/2072-1633-2022-3-334-343

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