ANALYZING THE DEVELOPMENT OF THE THEORETICAL ASPECTS OF THE ENVIRONMENTAL, SOCIAL, AND GOVERNANCE PRINCIPLES IN THE BANKING SECTOR

Abstract

The article analyzes theoretical aspects of the sustainable development implementation. As part of the study, foreign and domestic practice in implementing the Environmental, Social, and Governance principles in the banking sector, as well as documents regulating this process, were studied. Legal acts that regulate the implementation of the sustainable development concept were found to be theoretically insufficient and to be based on generally accepted documents that are advisory in nature. The main Environmental, Social, and Governance terms were analyzed as well, which resulted in the conclusion that the terms lack scientific validity and there is no division by areas of activity where these can be implemented. Thus, the theoretical basis of the issue requires improvement. The results obtained during the study can be used to further develop theoretical and empirical ideas for implementing the Environmental, Social, and Governance principles.