ESG rating,
regions,
governors' performance indicators,
model methodology,
best practices
Abstract
There is growing interest in the creation and substantive analysis of different rankings. This is because the gross domestic product is no longer the only trustworthy measure of quality of life and a standard by which managers make decisions, even though it still serves as an instrument for macroeconomic analysis. There has been a shift in the reasoning behind ratings in favor of considering social, environmental, and cultural aspects in addition to economic ones. This article focuses on identifying potential areas of practical application of the results of determining the relevant ratings to improve the quality of life in Russian regions. Ranking objects of particular relevance includes the sustainable development index and various modifications of ESG ratings. The author demonstrates how the ESG ratings of Russian regions, which were published by various initiators, vary greatly and offer a chance to create a representative integrated rating with practical relevance. The author suggests that the system of indicators for evaluating the performance of governors authorized by the relevant Decree of the President of the Russian Federation serve as a consistent basis for standardizing the ESG rating methodology. Using the benchmarking mechanism, we can promote the best practices for ESG transformation of the regions’ management systems and identify reserves for attaining the Sustainable Development Goals.
