Features of implementation of ESG management criteria in Ukrainian agriculture in the context of global challenges and EU integration

M. Hopka, O. Kovtun
Abstract

This study addressed the significance of implementing ESG (Environmental, Social, Governance) management criteria in Ukrainian agriculture in the context of integration with the European Union during wartime and post-war reconstruction, which is becoming increasingly relevant due to the requirements of sustainable development and environmental protection, which are becoming an integral part of accession agreements. The purpose of this study was to substantiate the necessity of implementing ESG management criteria in the activities of Ukrainian agricultural enterprises to ensure sustainable development and integration of Ukraine into the EU during the period of martial law and post-war reconstruction. The key methods used included comparative analysis, evaluation method, SWOT analysis, and data synthesis. The aspects of environmental sustainability, social responsibility, and corporate governance and their interrelationships with the development of agriculture and rural areas in Ukraine were considered in detail. The study identified the value of environmental sustainability in the context of current challenges, such as climate change, soil degradation, and the need to preserve biodiversity, accommodate social aspects, ensure decent working conditions, develop rural communities, and improve the quality of life of the population through the implementation of responsible finance principles. The study identified strengths, weaknesses, opportunities, and threats that may arise on the path towards implementing ESG criteria in the management of agricultural enterprises through a SWOT analysis. Strengths include Ukraine’s natural potential, fertile land, and agricultural traditions. Weaknesses include insufficient infrastructure, financial resources, and technical support. Opportunities include integration into European markets, attracting foreign investment, and developing innovative technologies. Threats include the impact of climate change, geopolitical risks, and economic instability. The above analysis of the benefits of ESG criteria for the agricultural sector has its practical value, as it can help agricultural enterprises improve their production potential, increase their competitiveness in the market, and become potentially attractive to investors

Keywords

reconstruction; principles of responsible finance; management; sustainable development; decision-making; social responsibility

Suggested citation
Hopka, M., & Kovtun, O. (2024). Features of implementation of ESG management criteria in Ukrainian agriculture in the context of global challenges and EU integration. Economics and Business Management, 15(3), 87-99. https://doi.org/10.31548/economics/3.2024.87
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