ESG Transformation in the Corporate Sector: Systematizing the Global Approach

M. P. Afanas’ev () and N. N. Shash
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M. P. Afanas’ev: Institute of Economic Forecasting, Russian Academy of Sciences
N. N. Shash: Russian University of Economics

Studies on Russian Economic Development, 2022, vol. 33, issue 6, 707-715

Abstract: Abstract— The article discusses the arguments related to the ESG transformation in the corporate sector of the global economy. An attempt is made to systematize and classify the materials prepared by leading international institutions and the business community as part of the implementation of the ESG agenda. The components of ESG projections that should be included in the business strategy of the company are considered. The new elements in the structure of investments in the corporate sector are defined. The algorithm of changes in the system of corporate governance in the process of ESG transformation is developed. The optimal structure of reporting for disclosing the information concerning the accounting of ESG factors in the company activity is presented. The scheme of the process of the ESG transformation of the business model in the corporate sector is proposed. The results of the study of the main methodological approaches used in the construction of ESG ratings are interpreted. The article reveals the main problems in the process of rating companies based on the assessment of ESG risks.

Keywords: ESG transformation; ESG principles; responsible investing principles; ESG factors; ESG risk; ESG rating (search for similar items in EconPapers)
Date: 2022
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DOI: 10.1134/S1075700722060028

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