Research of the Efficiency of Mining and Metallurgical Enterprises Based on the Environmental, Social, and Governance Risk Rating in the Context of Digital Transformation

Abstract

In recent years, there has been a significant increase in interest in the low-carbon, “greener” economies from investors and the public sector. To assess companies' compliance in terms of Environmental, Social, and Governance (ESG) criteria, Rating Agencies have developed ESG risk ratings, which allow for determining the effectiveness of enterprises in terms of ESG. The article is intended to research the efficiency of mining and metallurgical enterprises based on compilations of ESG risk ratings of leading international Rating Agencies. The authors briefly described the most recognized global ESG rating methodologies and compared the top 5 ESG ratings. The results of the qualitative assessment of ESG ratings formed this top-5 list. The current situation in the formation of rating ratings was described. In accordance to open data sources, the ratings of mining and metallurgical enterprises were collected, then ranged (based on an expert assessment) and highlighted the divergence of ESG ratings with explanations of these discrepancies. This study revealed a significant correlation between ESG ratings of leading Rating Agencies and assessed the efficiency of mining and metallurgical enterprises based on compilations of these ratings. Based on the graphical analysis, there is a correlation between the ESG ratings of the different Rating Agencies since when the enterprises are ranked from the best to the worst, the graph has a distinct direction of values from the lower left corner to the upper right corner.