THE ROLE OF ESG-PRINCIPLES IN ENSURING SUSTAINABLE DEVELOPMENT OF A RESOURCE REGION

The importance of sustainable regional development is due to the need to ensure economic growth, reduce disparities in living standards and minimize environmental damage. Currently, a large number of works are dedicated to the topic of sustainable development at both national and regional levels, but a single correct solution to provide it has not yet been found. One possible direction for ensuring the sustainability of regional economies is the implementation of ESG principles, which aim to improve the environmental condition, enhance social development, and upgrade the quality of governance in the region. Regions rating on the implementation of ESG principles is compiled by numerous rating agencies, but each agency uses its own system of assessment indicators for each block: E (environment), S (social development), G (governance). The methodologies used by rating agencies are based on scoring and are not comparable to each other. All this leads to a lack of due consideration of regional authorities to the issue of sustainable development. However, the experience of large companies that make a significant contribution to ensuring sustainable development in the regions where they operate through the implementation of ESG principles, deserves increased attention.