ESG Management of the Development of the Green Economy in Central Asia

This study is devoted to the issue of ensuring effective ESG management of digital business due to the use of technologies of AI and Big Data to accelerate the development of the green economy in Russia and countries of Central Asia. The research design involves the application of the multidisciplinary system approach, which combines the concepts of sustainable development and ESG management and digital and green transformation. These approaches are to coordinate the parallel processes, which are connected with the rapid development of digital technologies, rethinking of the ESG direction, and the necessity to accelerate the green transition in the considered region. The research methodology is comprised of general scientific methods: analysis and synthesis, comparison and observation, generalisation and grouping. This study presents the theoretical foundations of digital business and the digital economy, the green economy, and ESG management, substantiates the interconnection between them, and points to the necessity to influence these processes to achieve the maximum positive effect. Attention is paid to the development of the digital economy and implementation of the ESG concept in Kazakhstan, as one of the region’s leaders. The influence of AI and Big Data on the state of ESG management and green economy development is characterised, and an example of the combination of the ESG concept and digital technologies within a Kazakh start-up TrustMe is presented. This work poses a scientific value from the position of the research on the processes of mutual influence of digital technologies and processes.

Purpose: This paper is devoted to the study of the development of robotized business in Russia and countries of Central Asia with compliance with the principles of ESG management for the development of the green economy. Design/methodology/approach: The study’s methodology combines—within the systemic and multidisciplinary approaches—the principles of the sustainable development of the green economy, Industry 4.0, and robotization, which are tied to the processes of technological modernisation in the studied region’s economies. The methods applied include analysis and synthesis, observation and generalisation. Findings: We present the assessment of the level of robotization in Russia and countries of Central Asia, determine the underrun of the region’s countries from the world leaders, and outline the main reasons for this situation; perform a classification of robots, analyse the impact of robotization of individual companies on the achievement of the Sustainable Development Goals, and emphasize the need to combine the process of technological robotization of the economy with the values and principles of ESG management to ensure the green transition of the economy of the region’s countries, accelerate their development, and raise the level of their competitiveness. Originality/value: This study contains important scientific conclusions on the emergence of a synergetic effect, which can be achieved due to compliance with the principles of ESG management with support for the robotization of the economy of Russia and countries of Central Asia and simultaneous achievement of the SDGs and the technological modernisation of the economy.

The research aims to substantiate the need for studying the concepts of “household” and “household finance.” The research argues that there is no universal and universally accepted definition of the household in economic science. There are disputes about the possibility of considering household (population) finance as an independent scientific category. Simultaneously, the need for a comprehensive qualitative and quantitative analysis of household activities is substantiated. This paper provides the rationale for studying the concept of “household.” Innovation (in the case of its development and implementation) in relation to this concept can be understood as an implemented management method in organizing planning or a significantly improved process that increases the effectiveness of studying the household’s functioning. In this case, innovation corresponds to the current socio-economic needs of society. This innovation can be attributed to the so-called process innovations, meaning new approaches in various areas of human activity: educational activities, management systems, mass services, etc. Thus, households shape the demand and supply of goods and services. In this regard, on the one hand, marketing activity calls for the use of the principle to produce the product that will be demanded in a given period. On the other hand, this activity also involves predicting a potential consumer’s future demand for a particular product. In the era of market relations, universities of many humanitarian fields (especially economic profiles), as well as engineering and technical universities, must meet the spirit of the times to become centers of growth of economic knowledge. Universities are a good environment for creating innovation.

The article proves that although the global development has naturally led to the adoption and implementation of the ESG concept, embodying a new, more socially oriented approach to management in the field of business and investment, thanks to the integration of a complex of environmental, social and quality management principles into the work of corporations, companies and financial and investment activities, a large range of problems in the provisions ESG-agendas and their contradictory nature remain unresolved. This is evident at all three levels of implementation and improvement of the global ESG ecosystem: conceptual; regulatory; assessment and monitoring. The public declaration of the ESG agenda does not mean that there is a real opportunity to follow it always and in everything: its recognition in conceptual terms and fixation in legislation is accompanied by problems of its integration into real business activities due to extreme political and economic instability, complexity and cost of rating and monitoring procedures, incomplete validity and applicability for all the indicators used in them, and most importantly—the lack of general readiness of business structures for their meaningful (and not just formal), that is, for the socio-transformative changes of their main goals. Nevertheless, the main—and quite optimistic—conclusion of the study is that, taking into account the improbability of cardinal global socio-transformative changes in business in the near term, legislative and regulatory efforts, as well as consumer expectations regarding ESG principles—as a trend—will necessarily lead to their improvement and enrichment in reality.

The research deals with the issue of the impact of technological changes on the efficiency of the production activities of enterprises. The authors condition the problem of the development of industrial production in the Novgorod Region. The effectiveness of the organization will largely depend on financial sources. The authors examine the economic efficiency of enterprises, which largely depends on the factors of production activity and is deeply related to the key category of the market economy, which are the technical and technological components of production. During the research, the authors analyzed the revenue structure of industrial companies in the Novgorod Region for 2021. According to the research results, the authors highlighted the impact of technological changes on the efficiency of production activities of enterprises in the Novgorod Region and noted that the use of innovative technical and technological measures in organizations should constantly assess the production level.

This research discusses digital technologies in the professional activities of training specialists. The authors reveal the strategy for developing the information society in the educational environment of educational institutions. The research aims to study the quality of mastering computer literacy of teachers of educational institutions, work with innovative equipment and programs of the educational complex, and the ability to use information technology in professional activities. The analytical component of the research is based on a study of the digitalization of Russian schools. The authors conduct an analytical analysis of the introduction of digital technologies in educational activities, the quality of mastering digital technologies by the teaching staff of educational institutions, and the educational result of students working in the digital educational environment of educational institutions. The authors substantiate the conclusion about the inclusion of artificial intelligence in the professional activities of a teacher as an innovative technology.

Purpose: This paper studies the problem of the normative and legal support and regulation of ESG management of the green economy and business, as well as the expansion of its leading institutes in Russia and countries of Central Asia. Design/methodology/approach: The methodological basis of this research is the concept of sustainable development, with which the concepts of social and climate responsibility, the green economy and ESG management are combined. In their totality, these theories form a system of values, which allows considering the research problem from the position of its facilitation of the green transition in the studied countries. The research methods include the general scientific methods of analysis and synthesis, observation and generalisation, as well as the monographic method. Findings: This paper characterises the theoretical aspects of ESG management and its connection with other approaches and concepts of sustainable development, elaborates on the key directions of the companies’ activities within the green economy and business and characterises the main factors in the normative and legal regulation of ESG management in Russia and countries of Central Asia. Besides, there is a comparison of the level of the development of the ESG sphere in the considered countries and the determination of the leading institutes of ESG management, as well as the directions for solving the problems of their dissemination from the position of acceleration of the green transition. Originality/value: The value and originality of this work are connected with the comparison of the level of the development of ESG management in Russia and countries of Central Asia and the identification of the key problems and directions for their resolution.

Purpose: This paper considers the conceptual provisions of using the tools of environmental taxation for the stimulation of companies in the Russian Federation and countries of Central Asia for the wider application of the tools of ESG management in green business. Design/methodology/approach: The methodology of this paper involves the agreement of a range of approaches and concepts that include the Sustainable Development Goals, the concept of social and climate responsibility, ESG management and fiscal policy. These approaches are considered from the position of their influence on economic processes through the system of economy regulation and facilitation of the reduction of environmental and climate risks. The methods used in this paper include analysis and synthesis, observation and generalisation, graphical method and concrete historical method. Findings: This paper elaborates on the theoretical features of economy regulation through the tools of economic stimulation, which imply the correction of the behaviour of economic agents through influencing the market proportions and pricing. Within this, the level of implementation of approaches to fighting climate change in the Russian Federation and countries of Central Asia was determined, and the expedience of using measures that would facilitate an increase in the level of responsible behaviour of companies due to the use of environmental taxation tools and stimulation for the wider use of ESG management tools in the green economy was substantiated. Originality/value: The originality and value of this paper lie in the development of a conceptual model of the influence of environmental tax and the tools of responsible business on the margin and carbon footprint of companies.

The paper investigates the scientific-theoretical aspects of the factors affecting the interest rate of government securities in the open market policy. SVAR model of these factors is formed. According to the results of the econometric model, the interest rate in the money market, the growth of the money supply, the volume of government securities being placed, the number of dealers participating in the auction of government securities, and the change in the inflation rate had a strong impact on the interest rate of government securities. Specifically, a 1% increase in the number of dealers participating in government securities auctions increases the interest rate of government securities by 0.12% after one month; compared to the two-month effect, there is a rise of 0.16%. However, the impact of the national currency devaluation and the Central Bank refinancing rate on the next month’s government securities rate was not statistically significant.

In the crisis conditions of the functioning of the country’s financial system, the volatility of revenues, expenditures, and deficits of budgets at all levels is growing. It is necessary to apply progressive instruments for stabilizing and stimulating the country’s socio-economic development and increasing the efficiency of public financing, considering the achievement of target indicators. Project state management is being actively implemented in all sectors, including the financing of human capital, which is based on healthcare. This research aims to develop methodological tools for assessing the effectiveness of public financing and implementing the national project “Healthcare” in Russian regions. The research is carried out using the methods of economic analysis and mathematical statistics. The methodological toolkit was tested on the data of the Ministry of Finance, the Treasury of Russia, and the Federal State Statistics Service of the Russian Federation for 2021. The results of the analyzing the effectiveness of public financing for implementing the national project “Healthcare” in Russian regions based on the concentration indices of public financing indicators and target indicators for the implementation of the national project “Healthcare” make it possible to classify regions into nine risk categories for the implementation of the national project. Timely identification of risks in implementing national projects will ensure a value-oriented approach to implementing state fiscal policy.

The research analyzes the trends in developing technical and economic conditions for conducting effective innovation activities at the regional level. The research presents an algorithm for analyzing trends and development prospects. The authors assess the influence of various factors on the overall level of development and implementation of innovation using the hierarchy analysis. The reliability of the obtained research results is verified. The results of practical testing of the developed algorithm for assessing the level of technical and economic support of innovation activity in the region are given on the example of the Nizhny Novgorod Region. Based on the research results, the authors draw conclusions and compile a list of factors hindering innovative development. In a dynamically changing external environment, innovation is the most important factor in maintaining the competitiveness of the national economy, which, in turn, is significantly influenced by the regions, the development of which is one of the priority objects of the national economic policy. A high level of innovation performance should serve as a basis for creating and maintaining a sustainable, structurally balanced regional economy.

This research aims to comprehensively study various aspects of esports as a special socio-cultural phenomenon. The authors examine the legal, organizational, and social aspects of the development of esports in the world in the context of the process of digitalization of society. Considerable attention is paid to the study of the features of the functional training of cybersportsmen. Synergetics, comparative, and comparative legal methods became the fundamental research methods. The authors conclude that, being a marker of the era of digitalization occurring in society, computer sports, using contemporary tools, gradually wedged into the ranks of traditional sports. This is most clearly manifested in the issues of the widespread development of the normative regulation of esports, the creation of international legal institutions that regulate the issues of holding competitions, and establishing the status and protecting the rights of their participants. Additionally, research aimed at studying the features of functional training and rehabilitation of cybersportsmen is actively developing.

The research aims to investigate the prospects of climate risk management in training a young digital workforce for decarbonization through the innovative development of a knowledge economy based on smart technologies. Using the regression analysis based on the best practices of the top 20 world’s knowledge economies in 2022, the authors determined the dependence of green employment on knowledge capital, digital and technological skills, and robots in education and R&D. The key conclusion is that climate risk management of training young digital workforce for decarbonization is advisable through the innovative development of a knowledge economy based on smart technologies. The theoretical significance of the obtained results and the author’s conclusions lies in the fact that they have revealed the cause-and-effect relationships of staffing for decarbonization, proving that the key role in providing green employment is played not by businesses, society, or the government but by universities. Based on this, a new approach to stimulating green employment is proposed—improved government regulation and internal university governance to support decarbonization. The research’s practical significance lies in revealing the prospects for increasing green employment in Russia through the innovative development of a knowledge economy based on smart technologies. To achieve universal green employment in Russia, the authors proposed a set of recommendations, outlining quantitative benchmarks for developing the knowledge economy through university management.

Growth of the green economy is connected to the development of the activities of environmentally responsible business, readiness for investment risks from investors and companies that attract funds for implementing innovations in this sphere, and their implementation for the sustainable development of territories and country on the whole. Environmental ESG innovations are indicators of the entrepreneurial sector’s participation in the preservation of climate for current and future generations. Their implementation is rather problematic in countries with a high level of environmental threats, unstable economic growth, and an emerging culture of responsible production and consumption among the population and entrepreneurship. In this work, we considered the main characteristics, trends, and approaches to the management of ESG innovations and substantiated the link between the growth of the implementation of environmental ESG innovations and the growth of financial and economic indicators of companies. The scientific novelty of this research consists in the identification of approaches to the implementation of environmental ESG innovations by business environment, which facilitate green growth in Russia and countries of Central Asia.

Purpose: This work is devoted to an important problem—the determination of the possibility and potential for the use of the marketing approach to ESG management of social and environmental responsibility of companies of green business in Russia and Central Asia. Design/methodology/approach: In terms of methodology, this work is built on the generalisation and coordination of a range of approaches that are derived from social responsibility, green economy and the concept of socio-ethical marketing. All these approaches are connected by the values of sustainable development, which allows considering them in the context of using the marketing approach to ESG management based on the application of the methods of analysis and synthesis, generalisation and observation, and the matrix method. Findings: Specific features of implementing the ESG management elements in companies of Russia and countries of Central Asia are described, the main goals of implementation of the given concept are characterised, and the correspondence of these goals to the marketing approach is determined. Based on this, the possibilities for a combination of the ESG management elements with the factors of the marketing mix 7P are determined. As a result of this, the main spheres and directions for the application of marketing tools in relation to environmental, social and governance goals are described. Originality/value: The main value and originality of this work consists in the possibility to use the proposed matrix of disclosure of the elements of ESG management through the lens of the marketing-mix 7P in the activities of companies of green business for the purpose of raising the value of companies and their products.

Strategic management of the business environment, based on ESG principles, is connected with the focus on the achievement of sustainable results in the sphere of ecologization, social sector and corporate sphere. The environmental direction is a rather serious problem for countries of the EAEU, and implementation of these principles is very relevant and requires research in the context of the leading experience of large companies. The goal of this paper is to identify the features of the leading experience of ESG management of business, which is focused on the achievement of sustainable results in the sphere of decarbonisation and implementation of the green economy in the EAEU. This research elaborates on the main directions of implementing the measures of decarbonisation and the green economy, which are components of the environmental strategies of large companies in certain countries of the EAEU. We describe the problems of these countries, which are related to insufficient involvement of small and medium business in the sphere of implementing the environmental component of the system of principles of ESG management of business. The scientific novelty of this research lies in the determination of typologies of the environmental strategies of large companies in the Russian Federation and Kazakhstan, which involve the focus on compliance with the principles of ESG management of business.

Components of ESG management of small and medium companies of the service sphere, which are aimed at the growth of the green economy, in Russia and countries of Central Asia have their specific features, which depend on a wide range of factors. The effectiveness of their management predetermines the growth of the efficiency of entrepreneurial activities and sustainable development of regions and the country on the whole. Environmental reporting, prepared by the companies of this sector, has its normative features; in this case, unlike large business, there is no corporate reporting that is usually published in open sources. The absence of corporate reporting with small and medium companies is predetermined by organisational (absence of organisational structure and personnel who have authority for the preparation of these documents) and strategic factors (not complex of ESG management, including in the sphere of green initiatives). The absence of public information on the results in the sphere of green growth reduces the investment attractiveness of the companies of small and medium business. The purpose of this paper consists in the description of the features of ESG management and environmental reporting of small and medium business in the service sphere in support of the green economy in Russia and Central Asia. For this, we used the methods of comparison, literature review, and the method of identification.

In this study, we elaborate on the modern trend of growth of society and the economy’s demand for further improvement of digital technologies and possibilities of continuous online interaction, which progressed during the COVID-19 pandemic. The population and business do not want to refuse conveniences provided by digitalization and support its implementation in spheres where there is no necessity for personal presence in certain relations (consumer–seller, seller–supplier). In Russia and certain countries of Central Asia, sustainable development of the digital economy, which is based on ESG management of green business, has its specific features. Russia and Kazakhstan demonstrate the sustainability of the digital economy based on ESG strategies at the level of large business. Uzbekistan is focused on the active role of the state; the country was able to create conditions for the integration of small and medium business in the sphere of the use of digital technologies, ensuring opportunities for sustainable development. This paper aimed to find the current directions of ESG management of green business in Russia and Central Asia countries, which are the basis for the sustainable development of the digital economy.

The research aims to study the ESG-based management of objects of macro-, meso- and microeconomic levels in Russia and determine the prospects for its improvement. ESG-based modeling of cause-effect relationships of managing macro-, meso-, and microeconomic objects in Russia is carried out using correlation and regression analysis. As a result, the system relationship between the ESG-based management of objects of macro-, meso-, and microeconomic levels is proved. The theoretical significance of the research results is associated with the fact that they revealed the synergistic effect of the system ESG management of the objects of macro-, meso- and microeconomic levels, expressed in a greater increase in the quality of life in Russia. The practical significance of the results is that the developed model of system ESG management of sustainable objects of macro-, meso-, and microeconomic levels in Russia has two advantages. The first advantage is associated with the improvement of state regulation of ESG management in Russia—the model relies on the most effective instruments of economic freedom. The second advantage is that the model has the fullest potential to improve the quality of life in Russia based on ESG management.

The research aims to develop measures for increasing the sustainability and competitiveness of the national economy and the balance of foreign trade turnover in the context of deepening economic integration. The authors analyze structural shifts in foreign economic activity, the development of the national economy, and the efficiency of Kyrgyzstan’s functioning under integration conditions. The authors assessed trade and economic cooperation with the EAEU, Central Asia, and China. The authors defined the main directions of (1) the development of economic integration of Kyrgyzstan, (2) deepening Eurasian integration in the context of increasing competitiveness of the national economy, (3) further pairing of the national economy in the Silk Road modernization strategy for the implementation of infrastructure projects, and (4) deepening cooperation and integration relations with Central Asian countries in the format of effective use of production potential. The methodology of regional network integration is used to substantiate the direction of deepening economic integration. In contrast to the current models of step and differential integration within the EU and the polycentric model of Eurasian integration, priority is given to developing a soft form of integration based on multilateral economic cooperation and the participation of states in several integration formations.

The research aims to substantiate the relevance of developing a spheral model of sustainable development of society based on a philosophical approach. The main research methods are the analytical review of scientific literature on sustainable development issues, dialectic method, principles of dialectics, and spheral approach. In the study of the current state of development of the main directions for studying the problems of sustainable development published in foreign and Russian literature over the past three years, the authors concluded that most of them are devoted to the study of four areas: environmental, economic, demographic, and medical. These approaches are insufficient to build a complete picture of the mechanisms of sustainable development of society. The research novelty is the presentation of the author’s approach to constructing a spheral model for studying the sustainable development of society, which covers the main aspects of the life of today’s society. The philosophical approach makes it possible to supplement the criteria for sustainable development in such areas as scientific, pedagogical, artistic, physical culture, and management. Based on the structure of the sphere of public life, it is possible to develop a unified system of sustainable development criteria that reflects all elements of society.

The authors conduct research based on the analysis of the practice of Russian corporations to indicate the current situation in compliance with and implementation of the ESG strategy principles, which shows that large business in Russia is interested in preserving and restoring the environment, maintaining a high level of industrial safety, and creating decent social support for company employees. Russian corporations, taken as the basis for consideration, chose the social responsibility policy of business and its transparency, which allowed them to enter the top socially responsible companies, according to RAEX-600. As a result of the research, the authors note the interest of Russia in maintaining the ESG strategy chosen by large companies. However, the participation of the government in the implementation of the ESG strategy principles is minimal nowadays, which shows the necessity of expanding the share of the Russian Federation and its subjects in the processes of co-financing programs to preserve the environment and create conditions for the introduction of “green economy” technologies.

The research studies methods and tools used in the promotion strategy in the new market conditions. The sanctions imposed on Russia create new challenges for business in the country. Under rapid technological transformation and changes in socio-economic conditions, companies are undergoing a significant restructuring of their market promotion strategy. The author discusses the main changes in the Russian market and suggests approaches to attracting and retaining customers, considering current conditions. The author shows the feasibility of the omnichannel approach to promotion strategy and studies the main trends in the Russian market in the field of communications. An analysis of changes in consumer behavior and purchasing decisions was conducted. The main trends influencing the development of an effective strategy for promoting and attracting customers were revealed. The author examines the factors influencing the customer journey, considering when and in what order they are relevant. One of the main objectives of this research is to study the relevant methods and tools that will allow companies to improve the effectiveness of promotion strategy and sales development in the market.

The research focuses on one of the most important tasks of managing economic systems—obtaining an assessment of the system of assessments to determine the effectiveness of the development of economic systems. By economic systems, the authors mean primarily industrial (production) systems. Despite the apparent difference between such systems, they have certain properties that make it possible to obtain a unified system of assessments for them. At the beginning of the research, the authors introduce the main definitions and outline the range of the considered issues. This is followed by a brief review of approaches to evaluating the effectiveness of economic systems. Further, the authors consider the most advanced, promising, and relevant approach to assessing the development of systems—the ESG agenda. Groups of indicators (projections) are introduced that characterize the degree of the system’s development. These indicators are listed for each projection. Finally, the problem of mathematical modeling of each projection of the ESG agenda is posed, and the main approaches to the model are discussed. A power multifactorial function is introduced as an example of such a model. At the end of the research, the authors propose an integral graphical model for assessing the current state of the economic system, which makes it possible to assess the efficiency of its development.

The research aims to study the key trends of the circular economy development as the main component of the sustainable development strategy based on the experience of China and Belarus. The methodological basis of the research is presented by the concepts and principles related to sustainable development and circular economy. Information basis was drawn from the scientific literature and national statistics of China and Belarus, as well as UN statistics. The circular economy is considered the main component of the sustainable development strategy in China and Belarus. Due to the legislation development and the implementation of corresponding governmental tools, the scale of the circular economy industry has grown steadily in China. Nevertheless, many problems are remained in this sector. Belarus is at the initial stage of the circular economy formation. It has already created favorable conditions for improving green energy production and waste management. Simultaneously the level of reduce, reuse, and recycle of some resources and waste remains rather low in Belarus; there is a lack of financing in the circular economy industries. China’s experience is relevant and important for Belarus. The authors reveal the trends of the circular economy development in China, the conditions for its formation in Belarus, and the legislative framework in the field of circular economy in both countries. Moreover, the authors identify the main problems and challenges for developing the circular economy in both countries.

The research discusses the process of introducing digital technologies into the enterprise management system. The author reveals the features of the development of enterprises at the present stage of introducing innovative business-designed technologies. Nowadays, unlike the leading countries, the economic condition of Russia lags behind in terms of its industrial production indicators. The authors determine the main performance indicators of the enterprise’s activity. The process of managing a company is complex. It is a complex system determined by goals, objectives, and management forms. The dynamics of the number of developed and used industrial production programs in the Russian Federation is substantiated. The authors analyze the dynamics of indicators showing the development of digital technologies of companies in the Novgorod Region. Additionally, the authors highlight the main problems and ways of solving the tasks set for chicken breeding enterprises to develop business efficiency using digital technologies. During the research, the authors considered the most popular digital technologies currently used in the Novgorod region. The conclusion based on the research done is substantiated.

The digital economy is becoming an increasingly important component of the global economy. It offers many innovative opportunities for inclusive and sustainable development. Moreover, it creates international and transnational challenges, most notably the digital divide. Building a digital economy is currently one of Kyrgyzstan’s most important tasks. The relevance of this research at the present stage of the country’s development is due to the adoption of the state program of transition to the digital economy. The research examines the level of development of information and high technology in Kyrgyzstan. The research aims to identify trends and problems of digital transformation of the economy of the Kyrgyz Republic. In particular, the authors considered the position of the Kyrgyz Republic in international ratings that characterize the development of digitalization, including the e-Government Development Index (EGDI) 2020, B2C UNCDAT E-Commerce Index 2020, Information and Communication Technology Development Index (IDI) 2017, Network Readiness Index (NRI) 2020, and Global Cybersecurity Index (GCI) 2020. The information technology sector in the country is developing rapidly. However, based on the data of world rankings, it is too early to talk about the success of the transformation of the digital economy, which is directly related to the strengthening of Kyrgyzstan’s position in the international digital space.

ESG management of personnel with a focus on the formation of green jobs is based on the provisions of the ESG strategy and includes the orientation towards the indicators of social and environmental responsibility of the entrepreneurial sector. The realisation of many large projects in the sphere of ecologization and social sphere in Russia and countries of Central Asia at the level of leading companies takes into account the sought UN Sustainable Development Goals. Accordingly, the main practices in this direction are formed within the activities of large companies, while the sector of small and medium businesses adapts to the possible implementation of the designated directions in this sphere. We analysed the key directions for the implementation of the basics of social and environmental responsibility in the context of the economic activities of large companies in Russia and selected countries of Central Asia. These activities are conducted in the context of the models of ESG management of personnel through the creation of green jobs, which are connected with the use of the integration approach. This paper’s novel approach lies in the improvement of the determination of typologisation of the character of ESG management of personnel through the creation of green jobs in Russia and countries of Central Asia.

Purpose: This work dwells on the issue of support for entrepreneurial education and the development of entrepreneurial skills in the conditions of adaptation to ESG management and the green economy with a focus on the specific features of Russia and countries of Central Asia. Design/methodology/approach: The methodology of this work is comprised of the interconnected categories of sustainable development, social responsibility, green and socially responsible business, as well as ESG management. Their combination requires the application of the system approach, which allows for the coordination of the above concepts. The key methods of research that allowed achieving the goal posed are general scientific methods of observation and generalisation, analysis and synthesis, and monographic and statistical methods. Findings: This work considers the theoretical essence of ESG management and green business, identifies their place and role in modern conditions, characterises the state of implementing the concept of sustainable development in the studied regions, determines the specifics of the green transition and problems faced by it and elaborates on the importance of entrepreneurship in these processes. From the position of entrepreneurial skills, their difference in the conditions of traditional and green business is determined and the need to improve entrepreneurial skills through appropriate education and the development of entrepreneurs is substantiated. Originality/value: The originality and value of this work lie in the complex consideration of the system of implementing ESG management in the conditions of green business in Russia and countries of Central Asia, as well as substantiation of the directions for education and development of the corresponding skills of entrepreneurs according to the current demands of the labour market.

This article studies a relevant scientific problem of training personnel for the green economy with the use of approaches and principles of ESG management in the universities of Russia and countries of Central Asia. The research methodology is founded on the concept of sustainable development, which is realised through the model of the green economy. The methods of literature review and empirical cognition were used to reach the research goal. They allowed generalising scientific approaches to the resolution of the problem of personnel training for the green economy and assessing the state of implementing the ESG management concept in the region’s universities. The theoretical aspects of the formation of the green economy were generalised, the main directions for its development were determined, the position of Russia and countries of Central Asia in the ESG ranking was characterised, attention was paid to transformations of the labour market according to the change in the priorities of economic development, the relevance of the problem of personnel support for the economy in the current conditions was emphasised, and the important task of universities in the context of training specialists and popularising the idea of the green economy in society was considered. The originality and value of this article lie in the complex evaluation of the adaptation of universities in Russia and countries of Central Asia to the activities in the conditions of the green economy from the position of their using the principles of ESG management in their activities.

This research focuses on the issues of higher education-labor interaction and its role in the sustainable development of regions. The authors justify the need for the domestic labor market for highly qualified specialists. The importance of increasing the efficiency of the system of reproduction of intellectual and professional resources is determined. The authors note that this close interaction can be achieved through ESG specialists who meet the needs of employers in the country’s economy. Some isolation of the higher professional education functioning is noted, which leads to several problems in the development of the labor market while remaining a useful and significant link in the provision of highly qualified specialists for the competitive reproductive system of the country’s territories. Based on the foregoing, the Government of the Kyrgyz Republic needs to ensure all prerequisites to form human capital and provide personnel for the national economy sector, aimed at building a developed innovative economy and sustainable development of regions. When designing national education systems, modified test programs help consider the developmental features and potential of a particular student, considering his or her digital upbringing and learning. Consequently, the need for ESG is invaluable and plays a significant role.

In drylands, the agriculture sector’s capacity to respond to climatic hazards is minimal. Crop modeling and determining the economic consequences of the impact of climate change are noticeably insufficient. To create respectable livelihoods in rural regions based on agriculture and sustainable dryland systems, the youth require education in this field. Improving yield and climate monitoring are key challenges for the successful adaptation of agriculture in drylands. To improve the ability to predict how environmental change will affect the agricultural sector in drylands, researchers need adequate research tools, accurate data, and models. The concept of integrated assessment modeling (IAM) is used to group several modeling techniques for evaluating the effects of climate change. Multidisciplinary assessment involves the development of methodologies for integrating knowledge across disciplines, especially between socio-economic and biophysical systems, to look into and comprehend their causal links. An interdisciplinary approach should integrate different models.

The research aims to develop a competency-based approach to the initial training of the young digital workforce in the digital economy as a foundation for combating climate change. The research methodology is based on the scientific provisions of the competency-based approach to training, in accordance with which a map of competencies of digital human resources for their involvement in the active fight against climate change has been developed. Using the method of comparative analysis, the author’s approach is compared with the existing approach in terms of its contribution to combating climate change. The result substantiates the preference of the new competency-based approach to the initial training of the young digital workforce over the existing approach due to the advantages in terms of contribution to the fight against climate change. These advantages include the systemic nature of digital and green competencies, a common set of climate change competencies for all universities, a high degree of state regulation of the training of young digital staff, and higher competitiveness of young digital staff in the labor market and their greater involvement in the fight against climate change. The theoretical significance of the author’s findings is that they have formed a systemic vision of the prospects of combating climate change in the digital economy through the training and employment of a green digital workforce. The practical significance of the obtained results is related to the fact that they make it possible to improve university management practices and human resource management practices in the business of the green digital economy.

The research aims to identify the risks and prospects of balanced and harmonious training of the young workforce and machine learning in a carbon–neutral digital economy of the future. The authors assessed the balance and harmony of the training of the young workforce and machine learning in the conditions of a carbon–neutral digital economy of the future based on statistics in the field of development of green human resources and technologies and digital human resources and technologies for 2020–2022 in BRICS countries. As a result, the authors compiled an overall profile of young workforce training and machine learning for the carbon–neutral digital economy in BRICS countries in 2022, which showed a moderate balance of these processes: their variation was 61.38%. The profile is supplemented by a SWOT analysis. The theoretical significance of the author’s findings lies in the fact that they have formed a complete picture of the training of digital and green human resources and technologies, presenting a systemic view of these processes from the perspective of their balance and harmony. The practical significance of the results of the conducted research is related to the fact that they revealed the prospects of the systemic use of young human resources and machine learning in the activities of the climate-responsible business of the digital economy to improve its efficiency and accelerate the pace of its development.

The research aims to determine the basic problems linked with developing indicators of sustainable development of contemporary education in the digital economy. The main research methods include an analytical review of the scientific literature on the sustainable development of education, the method of dialectics, the principles of dialectics, and the activity approach. During the research, the authors concluded that it is quite difficult to develop unified and universal indicators of sustainable education development in the digital economy. The main problems faced by the developers are the problems of determining the results of educational activities, the conditions of stabilization of the education system in its development, and its direct dependence on the socio-economic level of the digital economy. The research novelty is the author’s approach to defining the main areas for developing indicators of sustainable development of digital education. The activity-based access to the study of digital education makes it possible to identify several main components that take place in any educational system as an activity and a sphere of public life: educational potential, educational activities, educational social relations, and institutions. Having its own structure, each element determines the viability of the entire education system and makes it possible to develop appropriate indicators of its sustainable development.

This publication is devoted to the possibilities of implementing and enriching ESG management principles by integrating them into the concept and practice of an advanced university, namely a transformative (creative-innovative) university. This newest model of the university has been developed and implemented for more than 15 years by Pyatigorsk State University, located in Russia, in the capital of the North Caucasus, the city of Pyatigorsk. The model demonstrated success, high efficiency, and effectiveness. The research is based on a special kind of the author’s methodology, which has a transformative and co-integrating nature and extends, among other areas, to management. The application of this methodology makes it possible to achieve results that reveal broader opportunities available in the advanced university as a special categorical system for better implementation of ESG principles, especially “Social” and “Governance” principles, compared with corporations and other business structures. This amounts to the novelty and originality of the results and conclusions.

Youth is a special socio-demographic group in the social structure of society, with its own psychophysical properties and socio-cultural characteristics. Young people are active participants, builders, and creators of social relations. They act as an active social structure that plays a significant role at a certain stage of the development of social relations. The research aims to study youth as a phenomenon in the socio-cultural space. The research objectives are to study youth as a socio-demographic group, which is in constant motion and development, and conduct a socio-philosophical analysis of youth as a category of socio-cultural cognition. Young people have a certain individual psychosocial character formed under the influence of various phenomena and processes. Youth is an active, creative, and responsible period associated with maturation, socialization, and acquisition of psychological traits, social norms and values, knowledge, and skills for functioning and developing their personal properties in society. The research examines the problems of young people in the context of the value orientations of a globalized society. The authors reveal the basic value orientations of young people in information and communication technologies and the role of family values in forming their personal qualities. The role of labor and work activities in the self-affirmation and self-actualization of young people is substantiated.

Income inequality remains a significant global challenge. Addressing this issue is crucial for achieving the United Nations’ Sustainable Development Goals. Developing countries are particularly susceptible to income inequality, making it imperative to regulate and mitigate it. One commonly employed tool for tackling income inequality is the minimum wage institution, which is implemented in various forms across different countries. The minimum wage system can be categorized into national, regional, professional, and sectoral types. This research examines the impact of minimum wage systems on income inequality in developing countries. The authors conduct a comprehensive analysis of the minimum wage policies in these countries and the current state of income inequality. Additionally, the authors assess the influence of different minimum wage systems on employment, particularly youth employment, which serves as a key intermediary between minimum wage and income inequality. The research findings have significant implications for policymakers and stakeholders involved in regulating income inequality. By examining the effects of minimum wage policies on employment and income inequality in developing countries, this research can contribute to the development of more effective and targeted policy interventions. The insights of the research can help ensure that minimum wage policies strike a balance between reducing income inequality and promoting employment opportunities.

Nowadays, voluntary activity is an integral part of social life worldwide, including Russia. The nonprofit sector of the economy, including volunteering, significantly contributes to the increase in the value of the gross national product. The COVID-19 pandemic has significantly dampened international cooperation and the exchange of volunteers, as well as the domestic situation and development in the field of volunteering. Therefore, to develop and update the state policy to support volunteering, it is vital to analyze the involvement in volunteering in Russia and its uniformity, as well as to study the role of awareness in involvement in the volunteer movement. The research aims to assess the even distribution of the involvement of the Russian population in volunteering based on verified data from the Federal State Statistics Service of the Russian Federation and the DOBRO.RU information platform. Moreover, the research aims to quantify the relationship between the level of awareness and the degree of involvement in volunteering. The research adds empirical data and contributes to the development of the concept of supporting volunteering at the macroeconomic level as an important component of state and corporate social responsibility, considering the risks of COVID-19.

In the research, based on a comparative analysis of methodological and theoretical approaches to studying the labor market mechanism, the authors investigate the phenomenon of exploitation in the Republic of Armenia. Based on the conducted analysis, the authors develop positions that can form the basis for further study of this phenomenon within the framework of current trends in economic thought. The research also offers a quantitative assessment of human capital exploitation in the Republic of Armenia. The phenomenon of exploitation in economic theory is commonly associated with the theoretical-methodological approach of K. Marx, who regarded exploitation as a phenomenon inherent in the capitalist form of production. With the transition of socialist countries to a market economy, issues related to the problem of exploitation in economic theory have lost their former relevance. However, this does not mean that the phenomenon of exploitation has ceased to exist or is no longer acute. On the contrary, exploitation as an economic phenomenon is acquiring new forms, which is especially acutely manifested in countries with a transition economy. These nations often struggle with underdeveloped labor market institutions that frequently fail to fulfill their intended roles.

Digitalization is a trend followed by countries striving to develop a competitive economy and improve the quality of human capital. One of the main conditions for improving Kazakhstan’s national competitiveness in the global world is the transition of all levels of education to the digital system and improvement of the quality of human capital. Digitalization of the educational process requires the formation of a media culture of future pedagogical specialists. The article analyzes the current state of digitalization of higher education in Kazakhstan, as well as the implementation of state programs in several directions: the creation of a national open educational platform, the integration of ICT into educational programs of universities, the opening of ICT departments of universities on the production base, the introduction of new specialties related to information and communication technologies, an increase in the number of state grants in this field the region, as well as the intensification of work on the development of distance learning. The central place of the research is the analysis of the problem of teachers’ media culture, which is considered as a condition for the development of media education and media competence of students. This is crucial for the formation of a digital educational environment, involving the training of specialists with media competence, who are able to effectively use digital resources in their professional activities. The effectiveness of the introduction of basic or elective training courses aimed at the formation of media education and media culture into the educational program of pedagogical specialties is considered. The results of the experimental work are presented.

Waste management is the socio-environmental basis for implementing circular productions. The circular economy facilitates ecologization due to the reduction of waste and the use of green technologies for waste recycling. Subjects of green business in Russia and countries of Central Asia actively develop circular productions. In this study, we showed that during the implementation of circular productions, Russia focuses on the receipt of the main effects of ESG management of the green business, which is connected with high investment opportunities, the experience of project management in the sphere of development, construction, and setting into operation of objects that deal with eco-oriented waste recycling. It was shown that during the implementation of circular productions, green business in Kazakhstan and Uzbekistan focuses mainly on the resource component (waste of the required category). There are also signs of the transition of large companies, which functioned in the sphere of traditional productions in the past, to circular productions. The goal of this study was to find the features of waste reduction and development of circular productions with the help of ESG management of green business in Russia and Central Asia. The novel approach of this study consists in the determination of universal factors of effectiveness of circular production projects that can be used in the process of factor analysis of the effects in this sphere.

The territory of Kyrgyzstan consists of high mountain ranges and meadow valleys. Kyrgyzstan is one of the world’s most amazing regions in terms of natural beauty, abundant recreational resources, and the quality of these resources. Significant recreational resources include mountain climatic conditions favorable for human health, lakes, streams, mineral waters, swamps with strong medicinal properties, sandy strips on lake shores, picturesque natural caves, and high peaks, the foot of which is covered with a forest. The placement of resorts with the most advanced tourism industry close to natural resources and the development of sport hunting, mountain tourism, hiking, horseback riding, automobile tourism, and mountain climbing will significantly contribute to the significant improvement of the economy of the Kyrgyz Republic and increase the share of tourists from abroad. The practical significance of the research lies in the fact that the conclusions contained in it can be used to form a strategic development policy for the country’s tourist complex. The tourist complex of Kyrgyzstan has high importance in developing its economy, thus necessitating an in-depth study of existing problems in the industry to determine the prospects for its development, which determines the relevance of the research topic. The authors also consider the problems that hinder the industry’s dynamic development. According to the research results, the authors identify promising directions for developing tourism in the Kyrgyz Republic.

Purpose: This paper considers the features of ensuring ESG investing in the conditions of the development of the green economy in Russia and countries of Central Asia and identifies the main directions for this investing and its state in the region. Design/methodology/approach: The methodology is based on the concept of sustainable development, which combines the UN Sustainable Development Goals, the concept of climate and social responsibility and ESG management, which, in their turn, are combined with investment processes and are implemented through the systems approach within the concept of sustainable investing and green finance. The main methods applied in this paper are analysis and synthesis, observation and grouping, generalisation and critical assessment. Findings: This paper outlines the main environmental problems of the development of the economies of Russia and countries of Central Asia, determines the potential of the green economy for solving the designated problems, identifies the role of green finance in this process, proposes and characterises the classification of the main spheres and directions for ESG investing, describes the main tools of green investing, characterises the key aspects of ESG investing in Russia and Kazakhstan, and determines factors that influence the state of ESG investing in the modern conditions. Originality/value: This paper is original due to the performed classification of the main spheres and directions of ESG investing, which allows implementing investment policy better and ensuring the development of the green economy.

ESG management is the sphere of implementation of social, environmental, and economic measures that influence the achievement of various UN Sustainable Development Goals, including the ones connected with the growth of the energy efficiency of green business. The environmental component has an important (very often, top-priority) role in decisions regarding the creation of certain projects on an increase in energy efficiency. The orientation towards economic goals without any harm to ecology can be effective—similar to environmental ones. The creation of new projects on the mechanisms of ESG management involves the formation of new social opportunities for territories. In this work, we showed the specific features of the formation of this process in Russia and selected countries of Central Asia. The goal of this research was to determine the specifics of the contribution of the environmental component of ESG management to the improvement of energy efficiency of green business in Russia and Central Asia. The scientific novelty of this research is due to the improvement of the scientific and empirical support in the considered sphere of formation of ESG management.

ESG tools of investment management are the basis of green financing. Russia and countries of Central Asia are at the stage of the formation of the green economy and implementation of various projects in this sphere, which facilitate environmental protection, growth of energy efficiency and improvement in the level of social and corporate sectors. In this research, we analysed the state and character of the formation of green finance with the use of ESG tools of investment management in Russia and selected countries of Central Asia. We demonstrated similarities and differences in the policy of development of green finance in these countries. The goal of this research was to determine the character and results of the development of green finance based on ESG tools of investment management in Russia and Central Asia. To reach this goal, we set several tasks, which included the identification of the character of the development of green finance within the implementation of ESG tools for the management of investments in Russia and the assessment of the character of the formation of this process in countries of Central Asia.

Purpose: Studying the problem of the development of green business in Russia and Central Asia through the lens of the use of ESG management tools and their influence on the achievement of the Sustainable Development Goals and an increase in the effects of green transition. Design/methodology/approach: Combination of interdisciplinary approaches, united by the concept of sustainable development, which is fully disclosed within ESG management. The main directions for the implementation of ESG management are outlined, and their influence on the development of green business is determined, including the concrete examples of industrial companies. The methods used in this paper are of general scientific character and include analysis and synthesis, observation and generalisation, and the method of structural analysis. Findings: The paper considers the theoretical foundations of the development of green business through the lens of implementing the ESG management concept in industrial companies of Russia and countries of Central Asia. The importance of the development of green business in this region is substantiated, the list of economic and reputational advantages, which accompany the implementation of ESG management at a company, is given, and the methods of the achievement of the SDGs due to this are described. Examples of compliance with the principles of ESG management by industrial companies in Russia and Central Asia are analysed, and the influence of these measures on the development of green business is determined. Originality/value: Substantiation of the connection between the directions of implementing ESG management and achievement of the Sustainable Development Goals within the concept of green business.

The research aims to analyze the financial potential of “Deutsche Kabel” JSC based on quarterly reports for the years 2016–2021 and analyze the factors affecting the capital growth rate of this company by applying several methods and using a special Stata program. “Deutsche Kabel” JSC covers more than ten enterprises; this research covers the general analysis of all enterprises. To conduct the research, the authors first conducted the profitability analysis and then the correlation analysis. The results indicate that the capital size of the joint-stock company has changed as a result of the influence of external and internal factors. Simultaneously, the authors assessed capital efficiency, including profitability level and factors influencing the change of turnover coefficients. The research results make it possible to ensure the financial stability of enterprises based on the effective use of capital.

The heyday of oil production and the use of petroleum products began in the twentieth century. Since then, production volumes have been increasing until 2020, when, in light of the cumulative effect of economic restrictions agreed upon by OPEC countries and the COVID-19 pandemic, the decline in oil production led to a crisis of energy resources and petroleum products. Over the past hundred years, oil production on a global scale has become a source of economic efficiency for exporting countries and a basic need for importing countries. Oil production, transportation, and refining are a giant reservoir of jobs and material resources. In this regard, it is necessary to understand that problems in this area entail a series of economic and social issues that require forecasting and timely solutions. In order to predict, a non-stop process of analyzing the current situation and operating with fresh data from global and regional processes is necessary. The primary tool is statistics. Non-estimated data form dependency graphs and make it possible to make long-term strategic decisions. The oil and gas sector is one of many, but the largest, whose events depend on global economic and political processes. This article examines the impact of global crises on regional economic indicators.

The research aims to prove that food security is a global problem that affects all countries regardless of their development level. The differences between countries in terms of the level of food security depend on many factors, which include geopolitical, climatic, geographical, technological, and economic ones. In preparing the research, the authors applied general dialectical, economic, statistical, and other scientific methods of cognition, as well as content analysis of publications on the Internet. Food security is an integral element of economic security and, in general, the national security of any country. The COVID-19 pandemic, the sanctions regime imposed on Russia and Belarus (the largest suppliers of food to the world market), and military conflicts have led to an aggravation of the problem of providing the population with affordable food, a disruption in the logistics of food supplies, and a further imbalance in their consumption between developed and developing countries. The solution to the problem of ensuring food security is to strengthen international cooperation and intensify international trade in food products. International organizations, and, above all, the Food and Agriculture Organization of the United Nations, are called upon to play an important role in solving the problem of ensuring food security.

The research aims to identify the main problems and areas of cooperation between the countries of the Eurasian Economic Unity (EAEU) in the energy sector. The countries decided to form a single energy market of the EAEU, which will solve the problem of ensuring the energy security of the member countries. As a basis for studying cooperation, the fuel and energy complex is considered a complex and diversified system that includes a full cycle of energy production: from its extraction to delivery to consumers. Based on open information sources, the main problems hindering the formation of a single energy market, as well as the possibility of completing this process in the near future, are formulated. The authors established that the EAEU countries have similar problems, such as outdated infrastructure and production assets in the face of increasing needs of the domestic market, insufficiently high energy efficiency of the economy, organizational and technical difficulties associated with the development and implementation of new equipment and technologies, and insufficient investments. The internal energy markets of the EAEU countries remain fragmented. There is no unified investment space. The rules and principles of state regulation in the energy sector have numerous differences. The EAEU countries do not sufficiently use the benefits of conducting cross-border cooperation in the energy sector and entering foreign markets by uniting. To build a single energy market, the main task of the EAEU countries is to concentrate efforts on the efficient use of energy potential for further integration.

Oil has been the most important commodity in international trade since the nineteenth century. Petroleum is an integral part of the products we use every day. For decades, natural gas and oil have been the most important energy resources in the world. In 2019, oil and gas represented 39.9 and 15.1% of the global energy mix. These resources have a major role in global industries. However, there is a likelihood that the oil and gas binomial will be substituted soon. Nowadays, the gaze of the world is focused on the sphere of hydrocarbons. Various sustainability criteria in this sector are the existence of a balance between supply and demand in the oil and gas market. Hydrocarbons are of great importance for nations, homes, and businesses. The full satisfaction of the demand constitutes the major base of the stability of the oil market. However, in recent years, this satisfaction is becoming increasingly difficult to achieve due to the active development of clean types of energy. It is also necessary to note the unpredictability of demand in the oil and gas market.

The research analyzes the current state of the EU natural gas market and identifies trends in its development. The authors applied various methods, including description, synthesis, system analysis, and comprehensive research. The research object is the energy markets of the EU countries. The theoretical basis of the research used to analyze the state of the industry is industry and academic publications, reports of major energy companies, data from international institutions, and official government releases. At the beginning of 2022, the crisis around Ukraine caused significant changes in the geopolitical and economic landscape, creating challenges and disrupting the global energy market. The EU adapted its energy balance during the year, redirecting natural gas supplies and promptly finding a temporary replacement for large volumes from Russia. According to different European government agencies, the key shocks of the crisis have been avoided. Gas prices have reverted to levels seen before the crisis. Storage facilities are at full capacity. Europe is benefitting from unseasonably mild weather, a wider range of suppliers, and successful governmental efforts to decrease energy consumption. The EU is planning to proceed with the large-scale development of green energy and the construction of LNG terminals, which will later be transformed into hydrogen ones. Optimization of natural gas supply chains will be allegedly achieved through the active development of gas infrastructure and the conclusion of agreements with new partners.

In the research, the authors focus on the issue of the digitalization of industrial parks. The authors point out the need for industrial parks to use the program “Digitalization of Industry.” According to the authors, the purpose of the application of the program is the purchase of rights to the results of intellectual activity, software and hardware systems, new production technologies, computer, server, and network equipment, as well as application of the software and engineering (≤ 40% of the loan amount). The research aims to develop cooperative ties within the industrial park and between residents of various industrial sites through digitalization. The research considers that sectoral industrial parks can become the basis for rapid import substitution. It is currently necessary to introduce a digital platform for managing the operational and development stages of development. It is necessary to develop a portfolio of IT projects, namely a concept for the digitalization of industrial parks, a pool of projects (including prioritization), and a portfolio of a particular IT project, and ensure their implementation. Digital IT solutions for developing industrial parks make it possible to expand the potential and create a new environment for business development. The technology simplifies the process of collecting information about the status of industrial park assets and increases the efficiency of data processing.