Experts discussed the role of ESG in adapting international business strategies in the context of the global climate agenda at the round table " New International Environmental Agenda and Strategies of Multinationals" organized by the Center for Russian Multinationals and Global Business of the Graduate School of Management of St. Petersburg University (GSOM SPbU).
Experts on sustainable development and representatives of large companies attended the online event. They are Maxim Remchukov, Director of Sustainable Development at SIBUR Holding; Denis Agenorov-Papulovsky, Manager of Sustainable Development at IKEA Dybenko; Alexander Gorbachev, Manager of Sustainable Development at Coca-Cola HBC, Editor-in-Chief of Ecology and Law magazine and Angelina Davydova, Director of the Russian-German Environmental Information Bureau. During the discussion, representatives of the Center, researchers Olga Garanina and Lyubov Ermolaeva, spoke. The moderator of the round table is the Director of the Center, Professor Andrei Panibratov.
According to Olga Garanina, the environmental agenda will play an increasing role in shaping companies' international competitiveness and adapting the business strategies of MNCs.
Lyubov Ermolaeva said that the planning horizon for reducing emissions for most companies is 2030, while there are no apparent differences in the goals for reducing emissions from MNCs from developed and developing countries. Interestingly, the size of the market capitalization does not correlate in any way with the long-term and ambitious goals for reducing emissions.
The experts shared information about the sustainable development policies of the companies they represent and the ESG goals set for the short and long term.
Alexander Gorbachev stressed that if the rules of the game on regulators are more understandable for business, it will encourage businesses to introduce new technologies.
The round table participants discussed how the new environmental agenda in companies correlates with their international activities.
So, according to Denis Agenorov-Papulovsky, IKEA's sustainable development strategy is "Yes! To People and the Planet" which was first presented in 2012. Its goal is to transform IKEA's business, the entire value chain, and home life for people worldwide.
Many companies have begun to consistently implement a sustainable development strategy, integrating ESG into their business processes and regulating them with specific policies.
At the end of the discussion, the round table participants discussed the importance of implementing the ESG policy for business and the measures necessary for companies to more actively implement the environmental agenda in their strategies.
According to Maxim Remchukov, the request to increase the environmental sustainability of companies from ESG investors is, by and large, an expansion of the funnel of potential investors who can buy shares of the company. The more specific the strategy in sustainable development, the more accurate the progress that the company discloses and for which it reports, the wider the funnel of investors who will buy securities.
Angelina Davydova expressed hope for developing an expert community that will be able to professionally assess the achievements in the field of sustainable development of companies and comment, including technological plans.
Both the academic community and business are interested in successfully implementing the ESG agenda, so the Center invites representatives of companies focused on the environmental component of sustainable development to cooperate and dialogue.