Business Strategies of Companies in the Context of Sustainable Development

103
DOI: 10.20542/0131-2227-2020-64-4-37-44
A. Shlikhter (shlihter.alexey@yandex.ru), 
Primakov National Research Institute of World Economy and International Relations (IMEMO), Russian Academy of Science, 23, Profsoyuznaya Str., Moscow, 117997, Russian Federation


Abstract

The objective of the article is to analyze how fully the SD Goals are implemented in the policies of financial institutions, investment funds and business corporations, and what else needs to be done, especially taking into account the requests of investors, to ensure the achievements of the 17 Goals. The concept of SD provides not only an understanding at the system-wide level most of the problems of humanity, but also becomes a large-scale practice. This is not about static and unchanging state, but on the contrary, its dynamics, ensuring that current and future human needs are taken into account in maintaining the balance of socio-economic and natural systems. The article emphasizes and substantiates the role of the concept of sustainable development in the practice of international banks, funds and manufacturing companies. The author proceeds from the fact that SD is becoming a new paradigm for the existence of financial and non-financial companies. They are in the transformation of their behavior model, in which the creation of added value for shareholders is combined with non-financial reporting by companies, movement towards guidelines that meet the interests of business and society as a whole. The content of this transformation introduces a new approach to managing natural production reserves, risks and a wide range of impacts in the humanitarian field. This means that by building a value chain, companies solve the most important problems, such as the economical use of natural resources, the protection of the natural environment, human health and safety. As a result, they themselves become sustainable. In other words, the very approach to creating a value chain is subject to rethinking introduces international principles in the field of human rights, labor relations, declares its climate responsibility engaged in charity, volunteering and sustainable development of territories; taking into account the views of stakeholders, publishes non-financial reporting and much more. Thus, the environmental and social responsibility of business is no longer a matter of choice, but a kind of imperative, since there is a request from the world community and stakeholders for sustainable development, which no large company can pass by. This responsibility becomes its responsibility, which will ultimately affect the ability to manage risks, provide energy supply, purchase raw materials, developing and using innovative environmentally friendly technologies and products, and protect against weather disasters and natural disasters.


Keywords

sustainable development, UN goals, green technologies, institutional investors, climate bonds, renewable energy, LOHAS consumers


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For citation:
Shlikhter A. Business Strategies of Companies in the Context of Sustainable Development. Mirovaya ekonomika i mezhdunarodnye otnosheniya, 2020, vol. 64, No 4, pp. 37-44. https://doi.org/10.20542/0131-2227-2020-64-4-37-44



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