EMPHASIS OF INVESTMENT IN SUSTAINABLE DEVELOPMENT ON ESG PRINCIPLES UNDER THE CONDITIONS OF MARITAL STATE IN UKRAINE
Abstract
The article examines the issue of investing in sustainable development in the conditions of martial law in Ukraine. It was determined that the russian invasion of Ukraine only increased attention to aspects of sustainable development and, at the global level, several important environmental, social, and managerial ESG issues. It has been studied that today the main investment marker is compliance of companies' activities with the principles of sustainability and ESG criteria. It has been established that the issue of investing in ESG principles within the framework of the implementation of global goals of sustainable development is one of the priorities in the formation of the foundations of state policy regarding this process in leading countries. The priority areas of investing in sustainable development based on ESG principles are highlighted, taking into account the impact of prolonged military operations in Ukraine. This involves investing in the defense and industrial complex; in the research and development of ecologically clean energy sources; in “decarbonization” and the development of bioenergy; in the development of appropriate ESG social processes and standards within organizations; creation of transparent means of control in the process of corporate governance and introduction of corporate governance models. Given the realities of domestic business activity, to attract investments, it is especially important to achieve financial transparency and honesty of business, compliance with the rules regarding corruption, bribery, conflict of interests, political donations and lobbying, which are implemented in the management criteria to reduce corruption risks. Taking into account the instability of the situation in Ukraine, caused by the aggression of the russian federation, the risks and negative aspects of investing based on ESG principles are indicated. Among which: changes in market conditions, business trends and the economy as a whole under the influence of the war and the lack of direct expression in the amount of funds of future profits. In conclusion, it was determined that the involvement of ESG investment, which is related to sustainable development initiatives, will help organizations to better respond to geopolitical risks, which becomes especially relevant in the conditions of the destructive influence of russian aggression on the territory of Ukraine for the development of sustainable business practices even in conditions of martial law.
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