The Study of Social Risks Affecting the Financial Stability of the Oil and Gas Industry and The Ways of Enterprise Management

Abstract

Over the past few years, there has been a strong trend towards consolidating non-financial reporting standards in order to create uniform international rules for disclosure of information in the field of sustainable development. The geopolitical crisis, military actions on the territory of Ukraine, social discontent, the crisis of the oil and gas sector, global challenges exacerbated by the COVID-19 pandemic have made environmental, social and management issues (ESG) even more urgent for politicians, boards of directors, managers and the population. The number of investors in the world who make a choice in favor of companies that comply with these principles is increasing. And this is not accidental, since compliance with ESG standards minimizes environmental, social and corporate risks and, in general, has a positive impact on the activities of the entire organization. The article examines the impact of new socio-economic risks on the policy, investment strategies of Kazakhstan oil and gas enterprises and innovative forms of enterprise reporting. The object of the study is the oil and gas companies of Kazakhstan, and in particular their reporting and functioning system.