Iranian Economic Review

Iranian Economic Review

Assessing the ESG Sustainability Strategy of Gazprom Group through the Dynamic Standard Model (DSM)

Document Type : Research Paper

Authors
Elnur Mekhdiev 1
Igbal Guliev 2
Fedor Arzhaev 3
Alexander Bondarenko 4
1 Department of World Economy and Global Finance, Financial University under the Government of the Russian Federation (Financial University), Moscow, Russian Federation.
2 The School of Financial Economics, Moscow State Institute of International Relations (University) of the Ministry of Foreign Affairs of the Russian Federation (MGIMO University), Moscow, Russian Federation.
3 Institute for Research of International Economic Relations, Financial University under the Government of the Russian Federation (Financial University), Moscow, Russian Federation.
4 Department of Social and Political Communications, Ufa State Petroleum Technical University; Ufa University of Science and Technology, Ufa, Russian Federation.
10.22059/ier.2024.360252.1007737
Abstract
In modern conditions of instability and complexity in forecasting, methods whose application is associated with a clear understanding of the results are undoubtedly relevant. Such methods are most often mathematical, and one of the most underestimated among them is the dynamic standard method. Its application largely helps avoid the problems of subjectivity and value judgments. In addition, it allows the formation of a long-term adaptive strategy that not only meets forecasting tasks but also enables planning for the future development of the phenomenon. The ESG indicator system is particularly relevant today and is used to assess the investment attractiveness and functioning of enterprises. The energy sector is often heavily influenced by this reporting system. Due to recent events and the global imbalance in energy markets, the importance of planning and understanding the effects of ESG reporting on production activities has become a priority. Indicators of sustainable development underlie several investment criteria and non-tariff export restrictions. The main purpose of the study is to systematize sustainable development indicators using Gazprom Group as an example for the period from 2018 to 2020 and to identify problems and areas for improving the ESG indicator system within the company. The main results indicate the low effectiveness of the ESG strategy of Gazprom Group and show that the investment effectiveness of measures taken in the ecological and social pillars is low and slightly higher in the governance pillar.
Keywords
dynamic standard method
ESG transformation
rank correlation
reporting
similarity measure
strategy
sustainability
Subjects
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Iranian Economic Review
Volume 30, Issue 1
Winter 2026
Pages 297-318