ESG Agenda: New Reality for Russian Ferrous Metallurgy Enterprises in Time of the Geopolitical Crisis

Olga Glushakova; Oksana Chernikova

doi:10.21603/2500-3372-2023-8-1-50-62

VAK Russia

5.2.6

ESG AGENDA: NEW REALITY FOR RUSSIAN FERROUS METALLURGY ENTERPRISES IN TIME OF THE GEOPOLITICAL CRISIS ESG Agenda: New Reality for Russian Ferrous Metallurgy Enterprises in Time of the Geopolitical Crisis

АА Аа

Published in Bulletin of Kemerovo State University. Series: Political, Sociological and Economic sciences · Pages 50–62 · Rubric: Economics and Management: Theory and Practice

DOI: https://doi.org/10.21603/2500-3372-2023-8-1-50-62 · EDN: KSUFDC

Received: 27.09.2022 Accepted: 14.11.2022 Published: 04.04.2023

Authors

Olga Glushakova

ORCID Scopus ResearcherID SPIN

Oksana Chernikova

Olga Glushakova

Academic degree: doctor of economic sciences

Science rang: docent

Novosibirsk State Theater Institute professor · kafedra istorii teatra, literatury i muzyki · Russian Federation · Novosibirsk

ORCID Scopus ResearcherID SPIN

Oksana Chernikova

Siberian state industrial University Russian Federation · Novokuznetsk

ABSTRACT

The article examines the conditions for the implementation of the ESG agenda in Russian ferrous metallurgy enterprises during the global geopolitical crisis. The subject is the condition of the largest Russian ferrous metallurgy enterprises under US and EU sanctions. The goal is to study the relevance and capability for the implementation of the ESG principies by the largest Russian ferrous metallurgy enterprises. The research uses methods of analysis, synthesis, comparison; descriptive, table methods. The sanctions have had a significant impact on the carbon-intensive sectors of the national economy, including the ferrous metallurgy industry. Even before the events of February 2022, the promotion of ESG principles at the international level was used as an instrument of political and economic pressure. Despite the efforts of Russian iron and steel producers, the amount of CO2 equivalent emissions is largely determined by economic, political, and other factors. For the successful implementation of the ESG agenda, it is necessary to radically restructure the technological chains of steel production, which requires financial support from the state. In addition to reorientation to the Asian market and the countries of the Middle East, it is necessary to conduct ESG assessments of Russian ferrous metallurgy enterprises. However, most likely, the results of the assessments of domestic ESG providers, will not be in demand.

KEYWORDS

ESG agenda, ESG score, ESG ratings, ESG providers, ferrous metallurgy enterprises, global geopolitical crisis

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GOST

Glushakova O. V., Chernikova O. P. ESG Agenda: New Reality for Russian Ferrous Metallurgy Enterprises in Time of the Geopolitical Crisis // Bulletin of Kemerovo State University. Series: Political, Sociological and Economic sciences. 2023. no. 1. pp. 50-62. DOI: https://doi.org/10.21603/2500-3372-2023-8-1-50-62. EDN: KSUFDC. (Date of access 16.09.2026).

MLA

Olga Glushakova, Chernikova O. P.. "ESG Agenda: New Reality for Russian Ferrous Metallurgy Enterprises in Time of the Geopolitical Crisis." Bulletin of Kemerovo State University. Series: Political, Sociological and Economic sciences 8.1 (2023): 50-62. DOI: https://doi.org/10.21603/2500-3372-2023-8-1-50-62. EDN: KSUFDC.

APA

Glushakova O. V., Chernikova O. P. (2023). ESG Agenda: New Reality for Russian Ferrous Metallurgy Enterprises in Time of the Geopolitical Crisis. Bulletin of Kemerovo State University. Series: Political, Sociological and Economic sciences, 8(1), 50-62. https://doi.org/10.21603/2500-3372-2023-8-1-50-62 EDN: KSUFDC.

Chicago

Olga Glushakova, Chernikova O. P.. "ESG Agenda: New Reality for Russian Ferrous Metallurgy Enterprises in Time of the Geopolitical Crisis." Bulletin of Kemerovo State University. Series: Political, Sociological and Economic sciences 8, no. 1 (2023): 50-62. https://doi.org/10.21603/2500-3372-2023-8-1-50-62. EDN: KSUFDC.

WIKI

{{cite journal | author = Glushakova O. V., Chernikova O. P. | title = ESG Agenda: New Reality for Russian Ferrous Metallurgy Enterprises in Time of the Geopolitical Crisis | journal = Bulletin of Kemerovo State University. Series: Political, Sociological and Economic sciences | year = 2023 | volume = 8 | issue = 1 | pages = 50-62 | doi = 10.21603/2500-3372-2023-8-1-50-62 }} EDN: KSUFDC

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ESG AGENDA: NEW REALITY FOR RUSSIAN FERROUS METALLURGY ENTERPRISES IN TIME OF THE GEOPOLITICAL CRISIS ESG Agenda: New Reality for Russian Ferrous Metallurgy Enterprises in Time of the Geopolitical Crisis

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