RANEPA Summer Campus: Participants Learned about the ESG Approach
Students-participants of the RANEPA Summer Campus attended a lesson on the ESG approach (Environment. Social responsibility. Governance). Maxim Kochetkov, the Adviser of the member of the Board, First Deputy General Director, PJSC RusHydro spoke.
In the last five years a new trend, unusual for investment funds, appeared: banks and investment funds change the criteria for selecting companies for financing, and prefer companies that fundamentally deal with social responsibility to the environment, their customers, and employees.
Following the principles of sustainable development is an important parameter along with profitability, level of dividends and stability of the company: a sustainable, balanced development that does not contradict further existence of mankind and assumes an environmentally rational approach to the use of resources. This trend is developing due to the fact that funds exist on the means of tax deductions of citizens, and therefore should be of a social nature and correspond to the interests of a society. Since 2014, the number of funds has increased from 3,000 to 10,000, and about 20-30 billion dollars have been invested in developments.
The speaker added that companies are deciding on an area in which they can become a leader individually. In this manner, the Russian Company Sakhalin Energy has chosen the "observance and respect for human rights and preservation of the culture and traditions of indigenous small-numbered peoples of the North" as its key principle of business. Companies working in the entertainment industry may also use such an important resource as public opinion. For example, the movie industry is responsible for cultural education of society. The movie companies are obliged to broadcast the values and ideas of humanism for raising tolerant generation.
Maksim Kochetkov said that Tatarstan is a Republic, which regularly hosts the RANEPA International Summer Campus, is one of the most dynamically developing constituent entities in Russia according to the level of the economy. The Republic’s GDP ranks No.3 in Russia. Large local companies are already introducing the idea of internal social corporate responsibility to attract investment (among them Tatneft, Tatenergo and Nizhnekamskneftekhim).
ESG-agencies are developing dynamically; there is a need on the market for specialists in these industries. Main challenges for companies are to develop strategies to reduce environmental pollution in the production process, to improve working conditions and to increase corporate social responsibility. There is a need for the strategists who have the skills to organize internal corporate social responsibility and conduct non-financial reporting on the market, and the agencies have a need for the specialists who can analyze relevant documents.
The risk of fraudulent documents is increasing hand in hand with the increased importance of the criterion for conducting environmental development and reducing the level of harmful emissions. Companies can claim their vigorous efforts in this area, but in reality never work on improvement of the technology. The task of agencies is to identify it and to prevent provision of loans to them. Such specialists are also in demand in PR-agencies, as large customers have requests to integrate the aspect of social activities in the PR-campaign to create an appropriate image. For young participants of the RANEPA Summer Campus, who are actively looking for their calling, this area can be an excellent start.
The organizers of RANEPA Summer Campus include RANEPA, the Government of Tatarstan, and the Association of Innovative Regions of Russia, with the support of ACIG Group of Companies.
UN Global Compact Russia is a partner of RANEPA International Summer Campus Sustainable Development Day.
For media accreditation, please call: +7 (903) 788-38-02 Dmitry Sokolov, press secretary, RANEPA.
General partner: The Сoca-Cola Company.
Strategic information partner: TASS. Official information partner: Interfax. Main information partner: Polit.Ru. Campus newspaper: Parlamentskaya Gazeta. Main regional information partner: Realnoye Vremya. Regional information partner: Expert Tatarstan. Campus TV: Tatarstan State TV and Radio Company.
Partners of the Summer Campus: Gazeta.ru, Tatar-inform news agency, Strategia magazine, RBC Tatarstan, TatCenter.ru, Kazan Vedomosti, ProKazan.ru, KazanFirst.ru.