ESG-principles implementation assessment by Russian oil and gas companies

The current political situation highlights the individuality of the Russian economy’s development. However, it is impossible to ignore global development trends, including the ESG-transformation of business: responsible business conduct, environmental compliance, social guarantees for employees, and transparent governance. All of these aspects are relevant for Russian oil and gas companies, regardless of the overall geopolitical situation. It should also be noted that in Russia, at the state level, ESG-practices are considered a new driver of company development. The aim of the study is to assess the implementation of ESG-principles by Russian oil and gas companies. The article presents the results of the assessment of the level of sustainable development of Gazprom, Lukoil, Rosneft, and Tatneft. A ranking of these companies is compiled. The obtained results are verified against the RAEX rating.