The attitude of corporate business in the Russian Federation to the management of environmental, social risks, as well as corporate governance risks (ESG risks)
Abstract
ESG principles are less common in Russia than abroad, but they are gradually being introduced into business. This article discusses the issues of the development of these principles in the Russian Federation to the management of environmental, social risks, as well as corporate governance risks, the attitude of corporate business to the management of these risks. The article analyzes the current situation in the Russian Federation in the field of environmental, social and corporate governance risks management, focuses on the readiness to implement the ESG risk management system in the Russian Federation, reflects the opinion of rating agencies, the scientific community, professional financial market participants, employers, foundations, experts, and major Russian companies. The systematization and description of the need for ESG risk management by business companies is of practical importance: the attitude of business partners is reflected, the impact on the economy of the Russian Federation as a whole, and the consequences for the state and society are highlighted, the attitude of investors to companies implementing ESG principles is described. Based on the conducted research, it can be concluded that the principles of responsible investment and sustainable development are beginning to work in the Russian market. Not only corporate business and banks, but also the Government and the Central Bank are actively involved in the development of this issue.
About the Author
D. Yu. Zakhmatov
Kazan (Volga region) Federal University
Russian Federation
Russian Federation
PhD in Economics, Associate Professor
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Review
For citations:
Zakhmatov D.Yu. The attitude of corporate business in the Russian Federation to the management of environmental, social risks, as well as corporate governance risks (ESG risks). Kazan economic vestnik. 2021;(6):29-38. (In Russ.)
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