Companies ESG transformation in the conditions of economy digitalization: From ESG to ESGP

Abstract

The experience of the pandemic has significantly changed the current processes, setting an accelerated pace of digitalization development. Almost all spheres of life have flowed into digital format: online services and work, distance learning and medicine, government digital services, etc. There is a rapid integration of real and virtual human life. In parallel with the growth of the volume of personal data collected, not only the number of useful services and products is growing, but also the number of leaks, cases of cyber fraud and data abuse. Today, fraudulent attacks on citizens have turned into a real national disaster. Personal data has become the «new oil», and privacy has become a new global trend. The privacy factor is already taken into account both by investors when making decisions and by users of products and services. In the context of the digitalization of the economy and the focus on ESG transformation of companies, there has long been a need to strengthen the generally accepted approach to sustainable development with a new element. This element should be Privacy.