ESG Principles in the Practice of Building an Economic Security Strategy in the Region

The research aims to determine the possibility of applying ESG principles in the process of forming a development strategy for contemporary Russian municipalities and regions from the standpoint of the ecosystem approach. The procedures for considering the main issues of applying the ESG principles include analyzing the content of the development strategies of contemporary Russian municipalities in one of the typical regions of the Central Federal District—the municipalities of the Vladimir Region. Along with the analysis, the authors applied the methods of graphical modeling and selection of the Pareto area in the analysis results. The elements of economic security contained in the development strategies of municipalities are determined using the method of content analysis. The provisions and principles of the ecosystem approach were used when adapting the ESG principles in relation to aspects of the economic security strategy of municipalities. The research results prove the feasibility of using ESG principles as tools that ensure the sustainable development of contemporary Russian regions and municipalities based on an ecosystem approach in the process of forming a strategy for the development of socio-economic systems, which makes it possible to fill the strategy with projects and programs in terms of ensuring the region’s economic security. The results’ novelty lies in constructing a configurator, which is based on a combination of such categories as ESG principles, sustainable development, ecosystem approach, strategic management, and economic security. In particular, the classic strategic analysis of external and internal environmental factors is supplemented with new directions focused on environmental aspects and analysis of the state of society. A new aspect of ensuring economic security in the municipality is shown in terms of building a development strategy based on the formation of an ecosystem in which the development goals of business, government, and the municipality’s population are agreed upon.