On May 20, 2021 Yury Blagov, Director of the GSOM SPbU PwC Center for CSR took part in the XVII International Research and Practical Conference "Corporate Social Responsibility and Business Ethics", traditionally held by the Financial University under the Government of the Russian Federation. Yury Blagov acted as an invited participant of the plenary session with a scientific report on the topic "The role of the ESG agenda in the transformation of the corporate sustainability model."
In his speech, Yury Blagov emphasized that the integration of the ESG agenda into the investment process and company management is today one of the main trends in the development of global business focused on achieving the UN Sustainable Development Goals. This trend is not about denying traditional approaches to CSR, but about their transformation in the context of the so-called “big disconnect” between the spread of responsible business practices and the continuing exacerbation of the entire range of global problems. The increased attention to ESG factors indicates the formation of a critical mass of investors who expect companies to become more involved in social and environmental issues as a prerequisite for long-term business success. The very approach to creating the “shareholder value” category is changing, and the market mechanism has begun to work, forcing companies to transform the corporate sustainability model.
The plenary session was also attended by representatives of the Russian Institute of Directors, PJSC Moscow Exchange, Coca-Cola HBC Russia, Scania Rus, Hevel Retail and the community “Women on Boards of Directors".