Abstract

The article deals with the development of the institutional aspect of the theory of sustainable development of an enterprise in the context of ESG transformation, which is formed under the influence of the formation of a new world economic order and a paradigmatic change in the institutional and technological conditions for doing business. The article shows that the conceptual features of the existing approaches to the analysis of the processes of sustainable development of the enterprise are associated with attempts to analyze the relationship between business and society taking into account the need to maintain a balance of economic, social and environmental goals through the use of a common paradigmatic logic “institutions – processes – results”, which allows combining research related to different disciplines; but this logic leads to the construction of eclectic theoretical schemes for describing the business activities of enterprises in the context of ESG transformation. The research approach proposed by the author contributes to the knowledge of endogenous business processes of enterprise development and the construction of institutional mechanisms for the formation of strategic competitive properties that meet the principles of sustainable development in the context of the reindustrialization of the Russian economy based on advanced technologies. This approach focuses on the search for a preferredsustainable development strategies of a modern enterprise, which today are largely determined by the public demand for ESG transformation and are associated with the consideration of various opportunities for integrating sustainable development goals into business activities in the context of the growth of institutional structures and financial products that meet the requirements of ESG principles. The paper concludes that for a successful transition to a new paradigm of doing business, it is important to form a favorable business environment in the Russian economy based on the creation of a sovereign model of institutional regulators in accordance with the trends of ESG transformation as part of the introduction of tools for the development of an integral world economic order.

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