Modified assessment methodology ESG competitiveness of enterprises to a new generation of investors

Abstract

Abstract The article substantiates the expediency of modifying the methodology for assessing business competitiveness in the context of accelerated global ESG integration. The authors propose a system of criteria for assessing the competitiveness of enterprises, taking into account the requirements of the EU Taxonomy, Regulation (EU) 2020/852, the CSRD, and stakeholder requests for information support for assessing ESG risks and ESG competitiveness of enterprises. This system of criteria is based on a cognitive approach. Thanks to the use of modeling and information tools, it is based on a lateral understanding of the clarity of the distinction between the criteria and sub-criteria for assessing the ESG competitiveness indicator and its components. The introduction of a system of criteria for assessing the competitiveness of enterprises will ensure obtaining realistic results and making informed decisions to strengthen the competitive advantages of enterprises for a new generation of “conscious investors”. The author’s own methodology for integral assessment of ESG competitiveness of metallurgical enterprises is proposed. This methodology is based on the synthesis of integral and reference approaches to assessing the homeostasis of competitiveness. It is adapted to the information support of the Management Report prepared in accordance with the GRI (Global Reporting Initiative) and SASB (Sustainability Accounting Standards Board) standards. Its peculiarity is the assessment based on the extended homeostatic plateau of the dynamic system for determining the thresholds of the optimality of the ESG competitiveness indicator of enterprises. This should become the basis for ESG rating and the fundamental basis for determining strategic imperatives for managing the competitiveness of enterprises in the context of global ESG integration.