Climate agenda and ESG principles’ application to Russian realities

Abstract

The global economy has been in a state of turbulence for the past three years, caused by a number of external and internal factors, and has been the source of energy, food and financial crises. Under these conditions of instability, the global trend - the movement of humanity towards the Sustainable Development Goals, of which combating climate change is an important element - takes on particular significance. However, the solution to these problems is only possible through close cooperation between the state, with its regulatory institutions and control instruments, and businesses that are prepared to follow ESG principles. The aim of the study is to analyse the global and Russian situation with regard to the implementation of the climate agenda, to show that, despite the complex geopolitical environment and the new challenges facing the Russian state and business circles, business understands the need for transition to ESG principles and is taking certain steps in this direction. The authors conclude that this area of activity will receive additional impetus in the near future, including through the introduction of new international trade regulations.