π-Economy (Apr 2024)
A systematic approach and framework for assessing ESG ratings of industrial enterprises and ecosystems
Abstract
In the modern world, the concept of a “green economy” is becoming increasingly important, becoming a key aspect of the sustainable development strategy. Global challenges associated with climate change, depletion of natural resources and the threat of environmental crises require new approaches to organizing economic processes. In this study, we focus on the concept of a green economy, viewing it in the context of social, economic and environmental sustainability. In our research, by “green economy” we mean an integrated approach to organizing economic processes, including the efficient use of natural resources, the transition to low-carbon technologies and the creation of environmentally sustainable jobs. This definition allows us to take into account a wide range of aspects related to the economy, society and the environment. To measure these aspects, so-called ESG ratings are used. The purpose of the study is a model methodology for assessing ESG ratings of industrial enterprises and ecosystems. Research objectives Define the concept of industrial ecosystem in the context of the study. Determine the role of the industrial ecosystem in the development of a green economy model and the transition to sustainable development. To characterize the current situation of ESG rating of industrial enterprises in Russia. Determine the level of financing for the transition to sustainable development of industrial enterprises in Russia. To propose a methodological approach to assessing ESG ratings of industrial enterprises and ecosystems. Based on the results of the study, the following results were achieved: The current position of ESG rating of industrial enterprises in Russia is characterized, trends of reorientation from international to domestic and Asian standards are identified with the further potential entry of Russian issuers into the Asian stock market. The current level of financing the transition to sustainable development of industrial enterprises in Russia has been determined to be still not high enough, which is confirmed by statistics of investment in fixed assets of enterprises aimed at environmental protection measures. A model methodology for assessing ESG ratings of industrial enterprises and ecosystems is proposed, based on the recommendations of the Bank of Russia and taking into account the special synergistic effect of industrial ecosystems.
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