Assessment of industry specifics impact on the ESG rating among russian companies

Resumo

The study highlights that ESG factors' importance varies by industry, and a more industry-specific approach is necessary to accurately assess companies' ESG performance. This paper provides a comprehensive analysis of ESG assessment methodologies and proposes a more industry-specific approach to address their limitations. By examining the importance of various sustainability factors across different industries, the study highlights the need for more tailored ESG assessments. The findings have practical implications for rating agencies, companies, and investors interested in sustainable development. Based on the analysis, aggregated conclusions are given on the level of significance of various factors of sustainable development for specific industries. The study's findings suggest that its necessary to develop methodology of weights assessment for different industries, including the unified system of assessment across different ESG rating providers.In the beginning of 2023 Bank of Russia published the report, which provides recommendations on developing ESG assessment methodology and scope for the weights for each ESG criteria and elements. However there the lack of published of non-financial statements and reports, which enable to generate enough industrial statistics, complicates the process of developing weight coefficients for Russian companies