Economic Bulletin of the National Mining University

 

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Issue:2025 №4 (92)
Section:Economics of enterprise
UDK:339.9: 327.7:658
DOI:https://doi.org/10.33271/ebdut/92.195
Article language:Ukrainian
Pages:195-206
Title:ESG approach as a basis for sustainable development of international corporations
Authors:Smiesova V. L., Dnipro University of Technology,
Chechel Ye. S., Dnipro University of Technology
Annotation:Methods. Systemic and structural-functional approaches were used, which allowed ESG to be considered as a model for the functioning of international corporations, which combines environmental, social and managerial components, and to characterize its structure and functional purpose. Methods of scientific abstraction, induction and deduction were applied - when substantiating the essence and components of ESG; comparative analysis - when determining the differences between international standards of non-financial reporting; case analysis - to study the practices of international corporations Microsoft, Apple, Walmart and Maersk; grouping - when identifying the stages of development of the ESG model. Results. The essence of the ESG model was substantiated and its main components were characterized. The main stages of the evolution of the ESG approach were identified and characterized. The analysis and comparison of the best practices of international corporations in the field of ESG were carried out. It was found that the implementation of ESG is accompanied by a number of problems and challenges, including the fragmentation and heterogeneity of international standards, the risks of «green camouflage», high costs for the process of collecting and verifying ESG data, insufficient level of digitalization, low integration of ESG approaches into the strategic management of companies. The problems and challenges of companies in the field of ESG are highlighted, as well as ways to overcome them. Directions for implementing ESG principles and indicators in the activities of international corporations in order to achieve sustainable development goals are proposed. Novelty lies in the systematization of problems and challenges facing international corporations in the process of implementing the ESG model, the analysis of the structure of international reporting standards and their interrelationships. There have also been further developed the generalization of innovative corporate practices and justification of the role of digital solutions in ensuring the reliability, unification and comparability of ESG data. Recommendations are provided for the transition of corporations to a sustainable development policy and ESG model. Practical value lies in the possibility of using the obtained results to improve ESG strategies of international corporations, develop sustainable development policies, increase transparency of companies and their investment attractiveness. The proposed approaches and generalizations can be used by corporations, investors, and authorities. 
Keywords:ESG, Sustainable development, Corporate governance, International standards, Greenwashing, Decarbonization, Sustainability, International corporations
File of the article:EV20254_195-206.pdf
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