ESG development of Russian companies: a focus on the markets of the Asian-Pacific region and the Middle East
The article considers the tasks of the ESG transformation in Russian companies. Particular attention is paid to the analysis of the main problems and development trends of the ESG agenda in the regions where Russian business is reorienting in conditions of the sanctions’ pressure, namely, the countr...
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| Format: | Article |
| Language: | English |
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Publishing House of the State University of Management
2023-06-01
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| Series: | Вестник университета |
| Subjects: | |
| Online Access: | https://vestnik.guu.ru/jour/article/view/4495 |
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| author | E. B. Starodubtseva M. B. Trachenko |
| author_facet | E. B. Starodubtseva M. B. Trachenko |
| author_sort | E. B. Starodubtseva |
| collection | DOAJ |
| description | The article considers the tasks of the ESG transformation in Russian companies. Particular attention is paid to the analysis of the main problems and development trends of the ESG agenda in the regions where Russian business is reorienting in conditions of the sanctions’ pressure, namely, the countries of the Asia-Pacific region and the Middle East. The expediency of adopting a single national standard for non-financial reporting, which includes a system of indicators taking into account industry specifics and allows optimizing partnerships with Eastern counterparties, is substantiated. It is proposed to create an ESG portal under the auspices of VEB.RF as the main methodological center for sustainable development in the Russian Federation, which will allow Russian exporters and importers to receive up-to-date information on the ESG requirements of potential foreign counterparties. The basis for financing for the creation and development of such a portal should be both federal budget funds and private financing, which corresponds to the interests of both parties. Thus, the state encourages the development of export relations with foreign companies, and the private sector gets access to regularly updated information to expand foreign economic activity in new markets. Further research will be aimed at developing recommendations for Russian exporters and importers focusing on the markets of the Asia-Pacific region and the Middle East in the context of specific jurisdictions and industries. |
| format | Article |
| id | doaj-art-b48da32f87f64302b5807a40f2f9b307 |
| institution | Kabale University |
| issn | 1816-4277 2686-8415 |
| language | English |
| publishDate | 2023-06-01 |
| publisher | Publishing House of the State University of Management |
| record_format | Article |
| series | Вестник университета |
| spelling | doaj-art-b48da32f87f64302b5807a40f2f9b3072025-02-04T08:28:16ZengPublishing House of the State University of ManagementВестник университета1816-42772686-84152023-06-010510511210.26425/1816-4277-2023-5-105-1122788ESG development of Russian companies: a focus on the markets of the Asian-Pacific region and the Middle EastE. B. Starodubtseva0M. B. Trachenko1Financial University under the Government of the Russian FederationState University of ManagementThe article considers the tasks of the ESG transformation in Russian companies. Particular attention is paid to the analysis of the main problems and development trends of the ESG agenda in the regions where Russian business is reorienting in conditions of the sanctions’ pressure, namely, the countries of the Asia-Pacific region and the Middle East. The expediency of adopting a single national standard for non-financial reporting, which includes a system of indicators taking into account industry specifics and allows optimizing partnerships with Eastern counterparties, is substantiated. It is proposed to create an ESG portal under the auspices of VEB.RF as the main methodological center for sustainable development in the Russian Federation, which will allow Russian exporters and importers to receive up-to-date information on the ESG requirements of potential foreign counterparties. The basis for financing for the creation and development of such a portal should be both federal budget funds and private financing, which corresponds to the interests of both parties. Thus, the state encourages the development of export relations with foreign companies, and the private sector gets access to regularly updated information to expand foreign economic activity in new markets. Further research will be aimed at developing recommendations for Russian exporters and importers focusing on the markets of the Asia-Pacific region and the Middle East in the context of specific jurisdictions and industries.https://vestnik.guu.ru/jour/article/view/4495sustainable developmentecologysocial policycorporate governanceasia-pacific regionmiddle eastnon-financial reporting standardesg |
| spellingShingle | E. B. Starodubtseva M. B. Trachenko ESG development of Russian companies: a focus on the markets of the Asian-Pacific region and the Middle East Вестник университета sustainable development ecology social policy corporate governance asia-pacific region middle east non-financial reporting standard esg |
| title | ESG development of Russian companies: a focus on the markets of the Asian-Pacific region and the Middle East |
| title_full | ESG development of Russian companies: a focus on the markets of the Asian-Pacific region and the Middle East |
| title_fullStr | ESG development of Russian companies: a focus on the markets of the Asian-Pacific region and the Middle East |
| title_full_unstemmed | ESG development of Russian companies: a focus on the markets of the Asian-Pacific region and the Middle East |
| title_short | ESG development of Russian companies: a focus on the markets of the Asian-Pacific region and the Middle East |
| title_sort | esg development of russian companies a focus on the markets of the asian pacific region and the middle east |
| topic | sustainable development ecology social policy corporate governance asia-pacific region middle east non-financial reporting standard esg |
| url | https://vestnik.guu.ru/jour/article/view/4495 |
| work_keys_str_mv | AT ebstarodubtseva esgdevelopmentofrussiancompaniesafocusonthemarketsoftheasianpacificregionandthemiddleeast AT mbtrachenko esgdevelopmentofrussiancompaniesafocusonthemarketsoftheasianpacificregionandthemiddleeast |