СУЧАСНІ ТЕНДЕНЦІЇ ВИЗНАЧЕННЯ ПРИНЦИПІВ ESG У КОРПОРАТИВНОМУ СТАЛОМУ РОЗВИТКУ

Abstract

The adoption of environmental, social and governance (ESG) principles requires organisations to change their operations to meet sustainability standards. In many countries, environmental, social and governance (ESG) reporting has recently moved from voluntary to mandatory, which makes this study relevant. European Union legislation, Directive 2022/2464, stipulates that large enterprises, as well as small and medium-sized enterprises, with the exception of microenterprises that are public interest entities, must include in their management report the information necessary to understand the impact of the enterprise on sustainability issues, as well as the information necessary to understand how sustainability issues affect the development, performance and position of the enterprise. These regulatory changes will help investors, civil society organisations, consumers and other stakeholders to assess the sustainability performance of companies in the context of achieving the Sustainable Development Goals and the European Green Deal. The article examines current trends in the definition, formation, and reporting of ESG principles in corporate governance. The regulatory framework and stages of implementation of ESG reporting are presented. The article describes 10 principles covering the aspects of human rights, labour, environment and anti-corruption. It is emphasised that the ESG report, through the inclusion of environmental, social and corporate governance (ESG) factors, provides investors with information for making investment decisions. The general objectives of the report within the framework of the UN Global Compact, in accordance with the 10 principles are defined. The key recommendations to the report are summarised. The 3 key areas of ESG are researched and characterised: environmental sustainability, social sustainability and corporate governance. The bioeconomy is described as a new business model that is a paradigm and tool for achieving sustainable development goals that complies with ESG principles. Conclusions are drawn on the prospects for strengthening global cooperation on sustainable development.