Sustainable Development and ESG Production Concept in the Context of Industry 4.0 Opportunities

Abstract

The modern market environment of the functioning of organizations is a continuously changing system, which makes it obvious to search for the most effective tools for its sustainable development. The process of managing these economic systems has recently undergone significant changes in the context of the development of Industry 4.0, becoming multidimensional and requiring a comprehensive analysis of all factors affecting its external and internal environment, among which can be called an increasing focus on universal digitalization and globalization of production and logistics processes through standardization. Industry, being the basis of the system of ensuring a civilized existence, has a significant impact on sustainable development. Production technologies, along with culture and economy, are responsible for providing new tools and opportunities for creating solutions in the direction of sustainable production. Reviewing and updating such tools is the primary goal of the manufacturing sector to effectively assess and improve the sustainability of production. These measures should be adequate to respond to growing sustainability challenges in an effort to meet ESG criteria. The triple line of ESG criteria, which includes environmental, economic and social aspects, is usually used to assess sustainability. However, there is a shortage of standard sets of indicators of production sustainability and measures to assess them. In this paper, the concept of sustainable development is considered in the focus of management on the principles of ESG, digitalization and standardization of business processes of the enterprise. The classification of the main standards containing requirements for management systems regarding the main components of the concept of sustainable development is made.