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Due to the sanctions, many companies are faced with pressing challenges such as rebuilding supply chains and finding new suppliers and markets.
Businesses have thrown their weight behind this, so sustainability is no longer a PR story for companies — which is generally not a bad thing. At one point they were playing catch-up: who would be the first to implement ESG, who would report the results first.
Now everyone is rather focused on those measures that will bring real value to the business in the here and now. For example, conserving and reusing resources. Due to disruptions in the supply of imported materials, this has become a forced measure, and businesses have come to comply with certain aspects of ESG at an accelerated pace.
It was a similar situation during the COVID-19 pandemic, before which everyone thought the transition to offshoring could take years. I think the current economic situation will push companies to take more decisive action to reconfigure their business to reflect the new realities.
In addition, the domestic agenda and national development priorities remain relevant, which can only be achieved by joint actions of the government, regions, business, NGOs and other stakeholders. Sistema JSFC became one of the three leaders of the first Ranking of business and NGO contribution to achievement of national goals and implementation of national projects among large companies. (“Our Contribution” Ranking compiled by ANO National Priorities).
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