Transformation of business models on the principles of ESG in order to achieve sustainable development of the national agri-food system

Abstract

The article shows that the basis of the development paradigm of the national agro-food system should be the Sustainable Development Goals (UN SDGs) and the ESG concept (E – environment, S – society and G – corporate governance). The purpose of the study is to reveal the essence, factors and specifics of ESG as a direction for transforming agribusiness strategies to achieve targets and sustainable development. The idea that the movement of Russian agribusiness in the direction of ESG is becoming an objective necessity for its further development is substantiated. A modified author's model of the organizational and economic mechanism for achieving the SDGs is presented, taking into account ESG factors. A successful example of ESG – the practice of the Russian agricultural holding "Rusagro" is considered. The scientific novelty lies in the identification of the main directions of ESG – the transformation of Russian agribusiness in the context of achieving sustainable development. Based on the results of the study, a number of key areas for the ESG transformation of the business models of companies in the agro-food sector were identified, including the integration of ESG factors into corporate governance, the creation of an effective system for disclosing information on the accounting of ESG factors in the activities of companies and their contribution to the achievement of the SDGs, implementation of business projects on the taxonomy of sustainable activities and projects that directly contribute to the achievement of the SDGs. The use of ESG standards, guidelines and ratings is recommended as a methodological tool for transforming business models and assessing the processes of integrating sustainable development goals into them.