ESG Transformation: A Roadmap for Russia’s Sustainable Development /– Tallinn : OPEN EUROPEAN ACADEMY OF PUBLIC SCIENCES OÜ, 2023

The monograph delves into the notion of Environmental, Social, and Governance (ESG) factors and their pivotal role in achieving sustainable development. In recent years, ESG has gained significant traction as a yardstick for evaluating a company’s non-financial performance. Stakeholders and investors alike are increasingly acknowledging the significance of ESG factors in risk management, stakeholder engagement, and creating long-term value. The paper explores the key trends and challenges in the current business environment, such as the proliferation of ESG reporting standards, the need for more standardized and comparable ESG data, and the importance of stakeholder participation in ESG policy implementation decisions. The author underscores the alignment between sustainable development goals and ESG factors in corporate activities. The study provides examples of successful ESG implementation by companies from diverse economic sectors. The theoretical foundation of ESG is examined, outlining its core principles and the link between ESG and corporate performance. The paper identifies ESG factors as critical drivers of the sustainability process and provides a detailed analysis of each factor, highlighting the opportunities and challenges they present for ESG implementation. The study also investigates specific challenges and opportunities for ESG in emerging economies, with a particular focus on Russia, where geopolitical tensions and sanctions pressure complicate the transition to a more resilient economy in 2022. The monograph examines the risks and opportunities associated with ESG adoption for companies and investors operating under sanctions. An analysis of ESG implementation practices in Russian organizations based on case studies and empirical data is presented to illustrate the current state of ESG implementation in the country. The author identifies the main challenges and opportunities for companies in Russia. Overall, the paper offers evidence-based conclusions and recommendations for companies, investors, policymakers, and society to guide their efforts towards a more sustainable future. The author emphasizes the importance of continuous learning, adapting ESG policies to business needs, and collaboration between companies and stakeholders to effectively implement ESG factors, which have the potential to shape sustainable development in the 21st century.