Photo by: SeventyFour / iStock
Against the backdrop of recent global events, players are re-prioritising projects that have the potential for ’quick’ efficiency. After all, it is primarily important for businesses to restore or support their operations.
Some Russian companies still prepare non-financial reports reflecting their successes in ESG practice, but in the end these reports are not published or are presented modestly, without any scope. And some businesses simply “sew” non-financial reports into their integrated reports.
State regulators are giving businesses a break on the timing of environmental projects. For example, the completion of the experiment on air emission quotas has been postponed in the country for two years, until early 2027.
Interestingly, however, there are still plans to launch new programmes related to sustainability in specific sectors. Whether this is inertia or a strategy to adapt global sustainability practices and standards to the national market, time will tell.
Cover photo: MaxRiesgo / iStock
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