Climate change and ESG factors in instability period: Indian and Russian experience

Abstract

Introduction. The article deals with the problem of application of Environmental, Social and Governance (ESG) criteria for investment and reporting principles in India and Russia as well as with sustainable development and climate change implementation policies within these countries. Methods. The research methods used by the authors in this work include the methodology of statistical analysis, forecasting, comparison, methods of assembling materials and research results. Analysis. Sustainable growth results from a compromise between long-term development priorities founded on carbon neutral economy, global introduction of carbon footprint emission taxes, on rapid digitalization of all areas of activity in society, and impact of greenhouse gases emissions. The authors compare incorporation of ESG principles in Indian and Russian business policies aimed at fighting climate change impact for sustainability. Results. The article concludes that despite the changing situation in the global economy, companies continue to expand their rationale for ESG taking into consideration the increase in the importance of public initiatives and good governance. Moreover, the implementation of many initiatives in this area helped businesses respond more flexibly to new challenges, while increasing sustainability.