In this research the experts tried to show the real situation with introduction and application of sustainability practices, how the companies are changing in the new challenges and what it gives them. The study identified the main reasons stimulating and blocking the development of a sustainable agenda in Russia, including the impact of the pandemic, business results and priorities, ESG ratings, as well as the role of technology.

The discussion was moderated by Regina von Flemming, Advisor to the General Director of Accenture in Russia and Kazakhstan.

As Vartan Dilanyan, General Director of Accenture in Russia and Kazakhstan, noted in his speech, the development of ESG becomes the next digital of any business.

The movement toward sustainable development in recent years is becoming more and more significant and widespread. And this despite a number of serious global problems, such as overcoming the consequences of the coronavirus pandemic. As AEB CEO Tadzio Schilling emphasized, it is crucial that "the topic of sustainable development is not put on the back burner by governments and major stakeholders". He also noted that the world is gradually "changing the DNA and coordinate systems of business, which previously was only focused on profit". As a response to increased interest of European business in Russia in the development of ESG-policy, back at the beginning of the year the Association established the project "Green Initiative", aimed at promotion of the best European practices and technologies and development of cooperation with Russian stakeholders and partners in the field of climate policy and energy efficiency of production.

 

Orientation of business towards higher social responsibility and environmentally friendly production was noted in the speeches both by representatives of Germany: German Ambassador to Russia Geza Andreas von Geyr and Chairman of the Russian-German Chamber of Commerce Matthias Schepp, and Russia: Managing Director for Corporate Responsibility, Sustainable Development and Social Entrepreneurship Elena Feoktistova.

Andrey Skorochkin, Head of Strategy Department of Accenture in Russia and Kazakhstan, presented the key results of the research.

Thus, the 4 main reasons stimulating the development of a sustainable agenda in Russia were:

58% - investors' attention to ESG factors

51% - consumer demand and expectations

44% - market trends and competitors' activity

41% - requirements of Russian and international regulators

The main barriers preventing Russian companies from becoming more sustainable were named by the respondents:

61% - lack of understanding of business value

61% - lack of internal competencies in the field of SD

57% - lack of support from the state

45% - lack of market/consumer demand

The full text of the survey is available via LINK