A Comprehensive Analysis of the Best Practices in Applying Environmental, Social, and Governance Criteria within the Energy Sector

Tetiana Zatonatska, Oleksandr Soboliev, Dmytro Zatonatskiy, Tetiana Dluhopolska (), Marek Rutkowski and Natalia Rak
Additional contact information
Tetiana Zatonatska: Faculty of Economics, Taras Shevchenko National University, 01-601 Kyiv, Ukraine
Oleksandr Soboliev: Faculty of Economics, Taras Shevchenko National University, 01-601 Kyiv, Ukraine
Dmytro Zatonatskiy: SESE Academy of Financial Management, Ministry of Finance of Ukraine, 01-053 Kyiv, Ukraine
Tetiana Dluhopolska: B. Havrylyshyn Education and Research Institute of International Relations, West Ukrainian National University, 46-027 Ternopil, Ukraine
Marek Rutkowski: Institute of Public Administration and Business, WSEI University, 20-209 Lublin, Poland
Natalia Rak: Institute of Public Administration and Business, WSEI University, 20-209 Lublin, Poland

Energies, 2024, vol. 17, issue 12, 1-25

Abstract: This article embarks on a crucial exploration of the implementation and integration of environmental, social, and governance (ESG) criteria within the energy sector of European countries, with the ultimate objective of refining the energy legislation in Ukraine. The research delves into the evolving role of ESG standards as a cornerstone in corporate strategy and investment, transitioned from its roots in socially responsible investing to a comprehensive framework that intertwines ethical, environmental, and governance considerations with financial analysis. The main thrust of the study is the following: firstly, it provides a panoramic overview of ESG applications within European energy projects, underscoring pivotal policies, strategies, and instances of successful ESG standard incorporation. Secondly, it benchmarks and compares ESG practices across Europe’s energy sector to distill best practices and their consequential trends and impacts. Lastly, this study converges these European insights to forge pragmatic recommendations for Ukraine’s energy legislation, aiming for an elevated integration of ESG standards that are in step with European benchmarks. The anticipated outcomes offer recommendations for enhancing Ukraine’s energy sector with robust ESG standards, proposing steps that align with the country’s newly adopted Energy Strategy 2050 and international sustainability goals.

Keywords: ESG criteria; energy sector; European legislation; renewable energy; climate policy; sustainability reporting; corporate governance; greenhouse gas emissions; energy efficiency; multicriteria analysis (search for similar items in EconPapers)
JEL-codes: Q Q0 Q4 Q40 Q41 Q42 Q43 Q47 Q48 Q49 (search for similar items in EconPapers)
Date: 2024
References: View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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