G factor of the ESG agenda in the context of sustainable development of Russian electric power companies

\nReducing associated investment risks in the context of the modern ESG agenda requires a certain transformation of corporate governance in Russian power generation companies. In order to achieve this objective, a correlation analysis was carried out between the generalized G components of the ESG agenda and the principles outlined in the Russian Corporate Governance Code (Code). The priority G components of authoritative international rating agencies and the largest foreign companies, leading national rating agencies, and the Bank of Russia were examined. The study involved the analysis of Russian power generation companies that are voluntarily enhancing their corporate governance practices. The results of a general assessment of their corporate governance and additional analysis of the fulfilment of the criteria for each section of the Code are presented. The data obtained are summarized and proposals for further transformations of corporate governance in these companies are formulated. These proposals are highly relevant in the context of sustainable development of these companies. They concern the reformatting of the ownership structure and business ethics into separate G components with an appropriate set of evaluation criteria, and the introduction of modern compliance control.\n