The purpose of the seminar is to discuss the conceptual problems of developing an ESG rating as a tool for measuring social responsibility, how various rating providers are trying to solve these issues, and also formulate proposals for improving ESG rating methodology.

At present, the social responsibility measurement agenda is almost entirely occupied by ESG rankings.

When choosing investment opportunities, the focus is increasingly shifting from traditional financial metrics such as earnings per share or operating profit to the company's environmental and social performance. Over the past decade this new concept, also referred to as “responsible finance” or ESG investing, has evolved from a niche investment concept to a mainstream investment paradigm. An indicator of this growth is that more than 3,800 signatories of the Principles for Responsible Investment (PRI) with 120 trillion USD in Assets under  Management (AUM) have committed to incorporating ESG factors into investment analysis and decision making. A key role in this paradigm is played by ESG ratings as an independent opinion on the state of environmental and social responsibility in a company. However, the concept of these ratings has not yet been fully developed, since there are a large number of methodological problems that have not been resolved at all or only partially resolved.

Program:

17:30 – 17:40 – opening speech

17:40 – 18:25 – presentation by Maxim A. Storchevoy, topic: “Measuring the Relationship between ESG and Financial Results”

18:25 – 18:55 – discussion

18:55 – 19:00 – Closing remarks: announcements of the next workshops

Storchevoy Maxim A., Candidate of Economic Sciences, Associate Professor, HSE University, St Petersburg.