ESG implementation process – stakeholders influence on European “Green Deal” politics

RESEARCH OBJECTIVE: The aim of this study is to demonstrate the interdependencies between the broader external environment and the immediate environment, by identifying the main stakeholders in influencing actions related to the European Union Green Deal (GD) and the implementation of ESG standards. RESEARCH PROBLEMS AND METHODS: In order to achieve the assumed goal, the stages of implementation of both the GD and the processes related to the implementation of ESG in the sphere of reporting entities will be analyzed. The cause-and-effect relationship between elements of the closer environment (stakeholders) and elements of the more distant environment will be assessed. THE PROCESS OF ARGUMENTATION: The article begins with a review of the literature in the area of ​​sustainable development and the stakeholder concept. Then the EU sustainable development policy and examples of stakeholder activities and their impact on EU policies were analyzed. Finally the PEST method was used to analyze the cause-and-effect relationship of stakeholders on sustainable EU policy. RESEARCH RESULTS: The implementation of the objective will allow for the identification of the impact of stakeholders and their behavior on the EU policy. The article shows that based on the assumptions of the stakeholder concept, it is possible to determine the degree of influence of the main stakeholders of the GD project on factors of the further environment. CONCLUSIONS, INNOVATIONS, AND RECOMMENDATIONS: The analysis of the success of implementing a project related to the implementation of the GD requires a combination of techniques related to the organization’s environment. Sustainable policy can only be effectively implemented through dialogue with all major stakeholders whose behavior significantly affects the further environment.