ESG Assessment of Innovative Projects: Comparative Analysis of RAEX and NRA Methodologies

Innovative projects seeking to attract investments and implement sustainable development best practices require a robust ESG performance assessment system. This article presents a comparative analysis of ESG rating methodologies from two leading Russian agencies – RAEX and NRA – focusing on their applicability for evaluating innovative projects. The study reveals fundamental differences in their approaches: RAEX empha-sizes ESG risk management and mandates full data disclosure, while NRA assesses alignment with best practices, demonstrating greater flexibility. Empirical analysis shows low consistency between the ratings, highlighting the need for methodological adaptations for innovative companies. Based on the findings, we provide actionable rec-ommendations for developing a tailored ESG assessment framework that integrates the rigor of international stand-ards with the unique demands of innovation-driven initiatives.