THE IMPACT OF THE FULL-SCALE RUSSIAN-UKRAINIAN WAR ON THE PRACTICE OF IMPLEMENTATION OF ESG APPROACHES BY DOMESTIC ENTERPRISES

Abstract

The article examines the evolution and makes a comparative analysis of the attitude of the heads of Ukrainian companies to the implementation of the ESG approach in the pre-war and post-war period. The intensification of social activity and attitude of domestic and international business to impact investment as a method of achieving the goals of sustainable development has been proven. Global trends in assessing the investment attractiveness of an investment object from the standpoint of non-financial factors are outlined. It is recorded in the work that companies today are expected not only to form a strategic vision in the field of ESG, but also to implement the ESG approach in business practice through the implementation of projects in the field of environmental protection, climate change prevention, reducing the carbon footprint of products, ensuring accident-free operation, compliance with the principles of corporate governance and human rights. The place of measures of social, managerial orientation in the reputational characteristics of the firm is determined. The connection and direct dependence between investment attractiveness and ESG strategies is substantiated. Trends in stakeholder demand for ESG reporting in pre-war and wartime periods were studied, and a comparison of international and domestic stakeholder attitudes to ESG reporting transparency was made. The article outlines the biggest challenges in the process of implementing the ESG strategy. It was determined that among the organizational, financial and economic, legal, industry factors, urgent business issues caused by the war in Ukraine have the greatest specific weight in restraining the implementation of ESG in business practice. Forecasts for ensuring the viability of business in the post-war period are summarized. In particular, it is argued that the intensification of Ukraine's European integration course and the powerful macro-financial support of partner countries in countering the enemy and supporting the economic front make it impossible to further isolate Ukrainian commodity producers on world markets. Therefore, in order to ensure sustainable competitiveness in the long term, domestic companies should more actively implement ESG approaches in business practice.