ESG rating: global experience and development in Belarus

Vitebsk State Technological University, Vitebsk, Belarus

¹ Corresponding author: gruzs@mail.ru

Abstract

World trends in the use of the ESG rating are of particular relevance in the period of globalization, crises and cataclysms. They are gaining their popularity among companies, as they are an element of self-audit of organizations, they allow improving the image, gaining access to stock exchanges, attracting investors, and conquering new markets. In the Republic of Belarus, rating activity is in its infancy, which necessitates fundamental and applied research in this area. Within the framework of this article, the need to develop a methodology for assigning an ESG rating and creating a state rating provider in Belarus is substantiated. The scientific novelty of the work lies in the development of the author’s methodology for assigning an ESG rating to industrial organizations in Belarus based on a multi-category assessment of the relevance of indicators for selected blocks that correspond to ESG principles, which allows for a comprehensive assessment of organizations with ESG practice along the chain “Goals-Actions-Results”. Based on the results of the study, conclusions were drawn about the feasibility of using the ESG rating by various stakeholders to implement the concept of sustainable development in the country.