Abstract and keywords
Abstract (English):
The article examines the conditions for the implementation of the ESG agenda in Russian ferrous metallurgy enterprises during the global geopolitical crisis. The subject is the condition of the largest Russian ferrous metallurgy enterprises under US and EU sanctions. The goal is to study the relevance and capability for the implementation of the ESG principies by the largest Russian ferrous metallurgy enterprises. The research uses methods of analysis, synthesis, comparison; descriptive, table methods. The sanctions have had a significant impact on the carbon-intensive sectors of the national economy, including the ferrous metallurgy industry. Even before the events of February 2022, the promotion of ESG principles at the international level was used as an instrument of political and economic pressure. Despite the efforts of Russian iron and steel producers, the amount of CO2 equivalent emissions is largely determined by economic, political, and other factors. For the successful implementation of the ESG agenda, it is necessary to radically restructure the technological chains of steel production, which requires financial support from the state. In addition to reorientation to the Asian market and the countries of the Middle East, it is necessary to conduct ESG assessments of Russian ferrous metallurgy enterprises. However, most likely, the results of the assessments of domestic ESG providers, will not be in demand.

ESG agenda, ESG score, ESG ratings, ESG providers, ferrous metallurgy enterprises, global geopolitical crisis
Publication text (PDF): Read Download

1. Berg F., Kölbel J. F., Rigobon R. Aggregate confusion: the divergence of ESG ratings. Forthcoming Review of Finance, 2022, 26(6): 1315-1344.

2. Serafeim G. ESG: Hyperboles and reality. Harvard Business School Research Paper Series, (22-031).

3. Cornell B., Damodaran A. Valuing ESG: doing good or sounding good? The Journal of Impact and ESG Investing, 2020.

4. Pedersen L. H., Fitzgibbons S., Pomorski L. Responsible investing: the ESG-efficient frontier. Journal of Financial Economics, 142(2): 572-597.

5. Friede G., Busch T., Bassen A. ESG and financial performance: aggregated evidence from more than 2000 empirical studies. Journal of Sustainable Finance & Investment, 2015, 5(4): 210-233.

6. Cheng B., Ioannou I., Serafeim G. Corporate social responsibility and access to finance. Strategic Management Journal, 35(1): 1-23.

7. Gibson R., Krueger P., Schmidt P. S. ESG rating disagreement and stock returns. Swiss Finance Institute Research Paper Series № 19-67. Working paper № 651/2020.

8. Christensen D. M., Serafeim G., Sikochi A. Why is corporate virtue in the eye of the beholder? The case of ESG ratings. The Accounting Review, 2022, 97(1): 147-175.

9. Serafeim G., Yoon A. Stock price reactions to ESG news: the role of ESG ratings and disagreement. Review of Accounting Studies, 2022.

10. Tsygalov Yu. M. Problems of ESG-reorganization of Russian metallurgical corporations. Administrative consulting, 2022, (5): 40-50. (In Russ.)

11. Zhukova E. V. Strategic priorities of sustainable development and ESG risk management algorithm. Kreativnaya ekonomika, 2022, 16(2): 611-628. (In Russ.)

12. Mazhorina M. V. ESG principles in international business and sustainable contracts. Aktual’nye problemy rossijskogo prava, 2021, 16(12): 185-198. (In Russ.)

13. Dzedik V. A., Usacheva I. V. Sustainable development and ESG production concept in the context of industry 4.0 opportunities. Vestnik Volgogradskogo gosudarstvennogo universiteta. Ekonomika, 2022, 24(2): 23-37. (In Russ.)

14. Napolskikh K. A., Sekletsova O. V. Kuzbass coal industry and ESG-principles. Vestnik Altaiskoi akademii ekonomiki i prava, 2022, (3-1): 83-88. (In Russ.)

15. Batayeva B. S., Kokurina A. D., Karpov N. A. The impact of ESG reporting on the financial performance of Russian public companies. Upravlenets, 2021, 12(6): 20-32. (In Russ.)

16. Galazova S. S. Influence of ESG-factors on sustainable development of companies and financial performance of corporate sector. Vestnik of Rostov state University (RINH), 2018, (4): 81-86. (In Russ.) EDN: LFGNUH

17. Spiridonova L. A., Korneeva T. A. Application of ESG principles in the management accounting system of Russian companies. Vestnik of Samara State University of Economics, 2022, (3): 82-90. (In Russ.)

18. Strelnikov E. V. Features of investing in ESG instruments, Russian and foreign experience. Questions of the regional economy, 2021, (4): 239-245. (In Russ.) EDN: YVZZFL

19. Ishmukhametov N. S. Prospects for the implementation of ESG growth models for geoparks in the Republic of Bashkortostan: the role of human potential. Economics and Management: Scientific and Practical Journal, 2022, (4): 47-53. (In Russ.)

20. Karelina M. G., Mkhitarian V. S. Statistical assessment of the present scope of ESG-investment. Finance and Business, 2022, 18(2): 82-94. (In Russ.) EDN: WDDZTN

21. Chernyshova M. V. ESG and responsible institutional investment. Scientific Works of the Free economic Society of Russia, 2021, 229(3): 98-120. (In Russ.)

22. Zaytsev A. G., Khapilina S. I. Prospects for the development of the ESG concept in the agro-industrial complex. Bulletin of agrarian science, 2022, (2): 120-125. (In Russ.)

23. Petrov V. O., Starikov I. V., Furshchik M. A. Features of domestic ESG ratings. Zhurnal Biudzhet, 2022, (4): 70-75. (In Russ.) EDN: GOWHJO

Login or Create
* Forgot password?