MOSCOW, March 28Russian business must seriously engage in the sustainable development agenda (ESG) so that, when entering new markets, they do not encounter associated restrictions, said Maxim Remchukov, Chairman of the Supervisory Board of the ESG Alliance.
““Today, in conditions of high uncertainty, Russian companies have many operational tasks related to the production and logistics of their products. … Russian companies today need to seriously engage in ESG topics,” he said during the work of the International Economic Forum of the CIS Member States.
In this situation, he said, companies do not always pay due attention to issues related to climate change and sustainable development, but this does not mean that these issues do not need to be addressed.
Firstly, he explained, there are relevant government regulations that set specific goals, in particular in the area of achieving a zero hydrocarbon footprint, and other environmental goals.
And, secondly, the expert noted, “today the products of Russian companies go to some countries, tomorrow to others, and we don’t know where they will go next, what restrictions regarding sustainable development they will have there.” may collide.»
The principles of sustainable development, or the principles of ESG (environmental, social, governance) are environmental, social and governance responsibility. Following these principles, businesses consider environmental factors (such as environmental impact and waste management), social factors (such as occupational safety and health and employee turnover) and governance factors (such as risk management and information transparency) when making decisions.
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