ESG-transformation Policies and Procedures for Russian Companies

Abstract

ESG-transformation of Russian companies is inevitable. The introduction of a “carbon” tax in many countries, fines for exceeding the level of greenhouse gas emissions provided for in Russian legislation, the introduction of adaptive and transformational sustainable development projects and their verification systems do not leave domestic companies any other way of development. For ESG transformation, companies need to develop and implement a package of policies and procedures. The study of the experience of leading Russian companies allowed us to define a framework list of policies and procedures necessary for ESG transformation and recommend the priority of their implementation. The purpose of the study is to identify and systematize the policies and procedures necessary for the ESG transformation of the corporation. The objectives of the study are the analysis of documents of Russian companies reflecting the implementation of the ESG agenda; the definition of framework policies and procedures and recommendations on the priority of their implementation. The study used methods of generalization, analysis and synthesis in terms of the study of methodological and legislative approaches to the formation of the ESG strategy of the corporation. It is necessary to start the transformation with the development of the G — corporate governance policy. Within the framework of this policy, the initial ones are image and control procedures, inventory of greenhouse gases, analysis of the industry value chain.