ESG Management as an Approach to the Management of Responsible Innovations in Support of the Fight Against Climate Change

Abstract

This paper considers the empirical provisions of the concept of ESG management for the stimulation of responsible innovations in the sphere of the fight against climate change. According to this, the essence and specifics of ESG management and the directions of its influence on the innovative development of companies from the position of its sustainability are studied. The methodological basis of this paper is defined by the Sustainable Development Goals. They are specified with the help of the concepts of corporate social responsibility, environmental management, corporate political activities, etc. The emphasis is made on green innovations, which facilitate the decarbonisation of the economy and its stimulation through social initiatives and responsible management. The methods used in this research are comprised of the general scientific methods of analysis and synthesis, observation, generalisation and grouping, and graphical method. This research characterises the specifics of ESG management from the position of business’s ability to impact the processes of the fight against climate change. The components of EASG management and their impact on the development and implementation of green innovations are characterised, and the main directions of achieving responsible climate innovations in companies through the implementation and popularisation of the concept of ESG management are determined and characterised. The value of this work is the substantiation and detailed description of the directions for achieving responsible innovations in support of tackling climate change within ESG management.