ESG principles in regional development: Achievements and prospects
https://doi.org/10.35854/1998-1627-2024-11-1304-1315
Abstract
Aim. The work aimed to assess the effectiveness of the regional policy of the Komi Republic in terms of achieving sustainable development goals, as well as to develop recommendations for further progress towards a sustainable economy.
Objectives. The work seeks to assess the position of the Komi Republic in the sustainable development ratings of the constituent entities of the Russian Federation (RF), to analyze the measures implemented in the region to achieve sustainable development goals, as well as to substantiate the directions for improving the regional policy in the field of environmental, social responsibility and ensuring high quality management.
Methods. The authors used general scientific methods, namely analysis, synthesis, and generalization. The assessments characterizing the position of the region in the sustainable development ratings were analyzed. Based on the study of statistical data, regional regulatory documents, and news sources, measures were identified to advance the Komi Republic towards sustainable development goals.
Results. The Komi Republic demonstrates stable progress in advancing towards sustainable development goals. However, there are also constraints, such as insufficient funding for environmental projects and limited use of digital technologies. It has been determined that the region has significant potential to improve its position in sustainable development ratings, subject to further implementation of environmental projects, energy saving programs, support for social initiatives, innovation, and infrastructure modernization.
Conclusions. The implementation of ESG agenda activities should be expanded in strategic documents for the region’s development, and more efficient use of digital technologies in their implementation should be ensured. It is also important to integrate sustainable financial instruments, such as green bonds, to attract additional resources to regional investment projects. Sustainable, balanced economic growth of the region is possible with a combination of an ecosystem approach to natural resource management and increased business involvement in solving social problems. All this will contribute to improving the quality of life and attracting investment to the Komi Republic in the long term.
About the Authors
E. A. Badokina
Pitirim Sorokin Syktyvkar State University
Russian Federation
Competing Interests:
Russian Federation
Evgenia A. Badokina - PhD in Economics, Professor, Head of the Department of the Financial Management
of the Institute of Economics and Management
55 Oktyabrskiy Ave., Syktyvkar 167001
Competing Interests:
the authors declare no conflict of interest
related to the publication of this article.
G. A. Nekrasova
Pitirim Sorokin Syktyvkar State University
Russian Federation
Competing Interests:
Russian Federation
Galina A. Nekrasova - PhD in Economics, Associate Professor at the Department of Financial Management
of the Institute of Economics and Management
55 Oktyabrskiy Ave., Syktyvkar 167001
Competing Interests:
the authors declare no conflict of interest
related to the publication of this article.
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Review
For citations:
Badokina E.A., Nekrasova G.A. ESG principles in regional development: Achievements and prospects. Economics and Management. 2024;30(11):1304-1315. (In Russ.) https://doi.org/10.35854/1998-1627-2024-11-1304-1315
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