ESG policy of Russia in the context of social and public transformations

Abstract

Aim. The purpose of the study is to summarize open materials on the formation of the global ESG policy, as well as to analyze these materials and develop proposals for changing the Russian ESG policy under conditions formed from outside socio-political risks. Methodology. Legal documents on the organizational design of the ESG agenda of world politics are analyzed in detail. Market capitalizations of the world’s leading companies are compared and existing procedures for determining their success are evaluated. Applicability and usefulness of ESG management in the Russian Federation are determined. Results. State ESG management is optimal for the Russian Federation. ESG management is implemented through an objective calculation of the utility and cost of each natural resource of a region and a country; through determining the feasibility of the natural resource use in the current time or in the planned future; through a comparison with the efficiency of using other natural resources; through ensuring the preservation or restoration of an environment favorable for Russian citizens; and through constant open explanation to the citizens of the Russian Federation of the decisions made in the field of nature management. Research implications. The paper shows the feasibility of using a well-developed international ESG management mechanism after necessary changes are introduced to the system of public administration of the Russian Federation.