Because of the growing interest of companies and investors in the sustainable development agenda, ESG principles that cover the environmental, social and managerial components of companies' activities are gaining popularity.
In the third part of the research you can get acquainted with the history of the development of responsible investment principles, a description of ESG factors and the degree of their influence on companies in Russia and globally.
In the third part of the research you can get acquainted with the history of the development of responsible investment principles, a description of ESG factors and the degree of their influence on companies in Russia and globally.
Historical background and evolution of ESG principles
Main stages of development:- 1960s: Refusal to support companies associated with the Vietnam War.
- 1970s: Refusal to support companies associated with apartheid in South Africa.
- 1980s: Creation of the US Sustainable Investment Forum and the social DSI 400 Index..
- 1990s: Signing of the UN Framework Convention on Climate Change and the emergence of GRI standards.
- 2000s: Publication of the UN Sustainable Development Goals and start of the EU's Green Energy Transition.
- 2010s: Launch of environmental reforms in Russia and publication of the UN Millennium Development Goals.
Main components of ESG
Environmental:- Environmental Management System
- Energy efficiency and climate change
- Water use and air pollution
- Land use, waste and packaging
- Biodiversity
- Working conditions and safety at work
- Human resources policy and social support
- Human rights and discrimination
- Community engagement
- Governance structure and strategy
- Board independence
- Ethics and anti-corruption policy
- Disclosure Score
- Governance for Sustainable Development
Examples of information to be disclosed
Environmental indicators:- Specific water consumption, GHG emissions
- Land reclamation and energy efficiency programmes
- Occupational injuries, employee turnover rate
- Salary range, share of women in managerial positions
- Social investments in the regions of operation
- Share of independent members on the board of directors
- Financial incentives for ESG compliance
- Availability and accessibility of ESG reporting
Benefits of implementing ESG principles
Impact on companies:- Revenue growth and improved credit ratings.
- Enhanced business reputation and strategic market positioning
- Reduced environmental costs and increased shareholder returns
- Reliable financial forecasting
- Improved sustainability and returns on investments
- Japan, Mexico: The share of companies publishing ESG reporting reaches 100%.
- Sweden, the USA, Malaysia, France, India, Spain: The share of companies publishing ESG reporting is 98-99%.
ESG financial instruments
Key instruments:- Green bonds: Issued for environmentally friendly purposes, with a lower coupon yield than conventional bonds.
- Green loans: The rate varies depending on the extent to which environmental goals are met.
- Sustainability-linked loans: Rate depends on ESG indicators, rating agencies' assessment.
- Sberbank: ESG-transformation, development of ESG-strategy and establishment of ESG-committee
- Sovcombank: Sustainable development policies, ESG lending
- Russian Agricultural Bank: First ESG ETF on the Moscow Exchange, support for sustainable development of the agro-industrial complex
State support and recommendations
Key areas:- Reduction of pollutant and GHG emissions
- Improving resource use efficiency and energy saving
- Analysis and consideration of sustainability factors in investing.
- Disclosure of information on sustainable investing strategies
- Preference to companies with responsible environmental and human capital development policies
- Waste management, energy, construction, industry
- Transport, water and wastewater discharge, agriculture
- Sustainable infrastructure, natural landscapes and biodiversity
Conclusion
The study emphasises the importance of implementing ESG principles to improve the investment attractiveness and sustainable development of companies. The main areas include the development of green finance, improved corporate governance and social responsibility. Effective environmental risk management and compliance with international standards will help companies to achieve long-term sustainability goals and improve their international competitiveness.
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