ESG REPORTING AS AN EFFECTIVE TOOL FOR ANALYZING THE SUSTAINABLE DEVELOPMENT OF A COMPANY

Abstract

Today, there is an increased interest in sustainability, social responsibility and the principles of best corporate governance in the international economic space. This interest is caused, first of all, by humanity's understanding of the problems that arise in connection with inhumane management and the pursuit of only material gain. Therefore, a completely new concept of doing business has been developed, which includes environmental care, corporate and social responsibility. This article discusses the importance of implementing the ESG concept to solve pressing problems, transparency of the company, improving its competitiveness among investors and consumers, as well as reducing risks. To demonstrate the results of the implementation of this approach, companies annually develop reports on sustainable development. It includes a wide range of indicators that best demonstrate the efforts of enterprises in implementing the ESG principles. This data helps in managing risks related to social conflicts, corporate governance, climate change, and also contributes to improving the financial situation of the organization. For a clear understanding of the value of sustainable development, this scientific study examines the ESG reporting of the domestic company Novolipetsk Metallurgical Combine.