From Sustainable Development to ESG: Experience of European Companies and Governments

From Sustainable Development to ESG: Experience of European Companies and Governments

Authors

Keywords:

Sustainable development, ESG, European studies, European commission, non-financial reporting, strategies, carbon emissions

Abstract

This article presents a review of ESG practices of European business, public and market climate regulation in EU and the experience of different industries investors and companies in the middle of February 2022. This experience may be useful for domestic Russian companies methodologically and for management practice. Today the influence of the European ESG agenda on Russian exporters is obvious to many business practitioners. The article attempts to present the main areas of such influence on the management practices of Russian business. The author puts forward the argument that there is a need of adapting the European experience. The main conclusion of the study is that the Green transition, European Green Deal bring not only the risks of losing revenues, but also unique opportunities to make the business model more efficient, to enter new markets, such as a market for carbon units and hydrogen, and also to gain access to international green financing even in the face of sanctions pressure on Russia. A hypothesis of the research was verified partially: using its catch-up status Russian business studies non-financial reports of companies of the European Union, as well as the requirements of regulators, and can apply methods for calculating indicators in three areas of ESG, may embed the strategy for sustainable development in the main strategy of business, etc., but few businesses in Russia will put ESG in the leading strategic position for the own development in the nearest future.

Author Biography

Olga S. Bobrova, St. Petersburg State University of Economics

PhD, Associate Professor, St. Petersburg State University of Economics, Saint Petersburg, Russian Federation.

olbobrova@hotmail.com

References

Айрапетян Л., Поминова И., Ибрагимова Д., Суркова А. Налоговые стимулы низкоуглеродного развития. М.: Центр стратегических разработок (ЦСР), 2021.

Мориц Р., Гавел А. Повышение обязательств по климату: анализ ICPF (минимальной международной цены на выбросы углерода). Женева: World Economic Forum, 2022. URL: https://www.pwc.ru/ru/publications/collection/increasing-climate-ambition.pdf

Николаев А.А., Гордеева Е.Р., Когденко В.Г. ESG-трансформация // Угрозы и риски финансовой безопасности в контексте цифровой трансформации: Материалы VII Международной научно-практической конференции Международного сетевого института в сфере ПОД/ФТ. Москва, 24 ноября 2021 года. Москва: Национальный исследовательский ядерный университет «МИФИ», 2021. С. 812–820.

Соболева О.В., Стешенко А.С. «ESG-факторы» как новый механизм активизации ответственного инвестирования и достижения целей устойчивого развития // Устойчивое развитие: вызовы и возможности: Сборник научных статей. СПб: СПбГЭУ, 2020. С. 246–255.

Янг С. Нравственный капитализм: частный интерес на службе обществу. Санкт-Петербург: Издательство СПбГУ, 2022.

Fasterling B. Human Rights Due Diligence as Risk Management: Social Risk Versus Human Rights Risk // Business and Human Rights Journal. Vol. 2. Is. 2. 2017. P. 225–247. DOI: https://doi.org/10.1017/bhj.2016.26

Rossi M, Chouaibi J, Chouaibi S, Jilani W, Chouaibi Y. Does a Board Characteristic Moderate the Relationship between CSR Practices and Financial Performance? Evidence from European ESG Firms // Journal of Risk and Financial Management. 2021. Vol. 14. Is. 8. DOI: https://doi.org/10.3390/jrfm14080354

Downloads

Published

2022-10-30

How to Cite

From Sustainable Development to ESG: Experience of European Companies and Governments. (2022). Public Administration. E-Journal (Russia), 91, 94-104. https://spajournal.ru/index.php/spa/article/view/286

Issue

Section

Scientific articles

Categories

How to Cite

From Sustainable Development to ESG: Experience of European Companies and Governments. (2022). Public Administration. E-Journal (Russia), 91, 94-104. https://spajournal.ru/index.php/spa/article/view/286

Most read articles by the same author(s)

<< < 5 6 7 8 9 10 11 12 13 14 > >> 

Similar Articles

1-10 of 283

You may also start an advanced similarity search for this article.

Loading...