ESG STRATEGIES AND SOCIALIZATION OF COMPANIES' ACTIVITIES IN MODERN CONDITIONS (INTERNATIONAL EXPERIENCE)

Abstract

The subject of the study is the process of socialization of the business sector in a market economy. The aim of the paper is to analyze the implementation of the criteria for responsible governance at the corporate level within the framework of the ESG requirements as a factor in mitigating the negative consequences of unregulated economic globalization. The scientific novelty lies in the analysis of the components of the socialization of the corporate segment, which are being implemented, among other things, on the basis of strengthening state regulation of the country in which the company is located, which involves the implementation of social justice in wages, diversity, and inclusiveness, ensuring the health of the team, as well as the requirement of a "reversal" management of companies towards greater attention to the team itself, taking care not only of a favorable climate in the team but also the living conditions of families working in the company. This trend reflects the fact that in recent years, the issues of social responsibility of business within a market economic system in the context of progressive economic globalization are practically subordinated to the ideas of obtaining commercial benefits and income. The recommendations of UN experts in terms of achieving sustainable development by 2030 allowed paying attention to corporate responsibility in terms of the socialization of labor relations while focusing on increasing the responsibility of the state itself as an institution for ensuring the sustainability of the social development of society. The research methods are general scientific methods of analysis and synthesis, a systematic approach, as well as a comparative comparison.