Scientific and economic journal

«Problems of economics and management of oil and gas complex»

ISSN 1999-6942

Problems of economics and management of oil and gas complex
Issues of integration of ESG-risks into risk management systems of Russian and foreign organizations

UDC: 338.24
DOI: 10.33285/1999-6942-2022-5(209)-51-58

Authors:

ORLOVA LYUBOV N.1,
SANNIKOVA KSENIA A.1

1 Financial University under the Government of the Russian Federation, Moscow, Russian Federation

Keywords: ESG-factors; ESG-risk management; ESG integration into ERM; non-financial performance indicators; sustainable development; business processes; COSO and WBCSD management

Annotation:

The interest of stakeholders in ESG-factors (ecology, social policy, corporate management) is annually growing. ESG-criteria cover a wide range of issues that are not currently a part of financial analysis, but can have serious financial and social significance for companies and their environment. However, ESG-strategies implementation is forwarded by certain problems that complicate their development and implementation, including the effective construction and functioning of ESG-risk management system. The article provides the substantiation of the importance and necessity of ESG-factors implementation, overviews the existing practice of implementing the ESG-risk management system in ERM, comparatively analyzes the current situation of ESG-risk management in Russian and foreign organizations.

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