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

Articles in Press

Document Type : Research Paper

Authors

1 Department of World Economy and Global Finance, Faculty of International Economic Relations, Financial University under the Government of the Russian Federation (Financial University), Moscow, Russia

2 International Institute of Energy Policy and Diplomacy, Moscow State Institute of International Relations (University) of the Ministry of Foreign Affairs of the Russian Federation (MGIMO University), Moscow, Russia

3 Institute for Research of International Economic Relations, Financial University under the Government of the Russian Federation (Financial University), Moscow, Russia

4 Institute of Oil and Gas Business, Ufa State Petroleum Technological University, Ufa, Russia

Abstract

In modern conditions of instability and complexity of 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 allows to avoid the problems of subjectivity and value judgments. In addition, it allows to form a long-term adaptive strategy that not only meets the tasks of forecasting, but also allows to plan the future development of the phenomenon. The ESG indicator system is particularly relevant today and is used in assessing 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 of energy markets on a global scale, the importance of planning and understanding the effects of ESG reporting on production activities is one of the priorities. It is the indicators of sustainable development that underlie several investment criteria and non-tariff export restrictions. The main purpose of the study is to systematize indicators of sustainable development on the example of Gazprom Group for the period from 2018 to 2020 and identify problems and areas for improving the ESG indicator system within the company. The major results include the proof of the low efficiency of the ESG-strategy of Gazprom Group, the conclusion that the investment effectiveness of measures, taken in ecological and social pillars is low, slightly higher in governance pillar.

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Iranian Economic Review

Articles in Press, Accepted Manuscript
Available Online from 04 March 2024

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