ESG-Principles in the Practice of Sustainable Economic Development

The development and application of ESG practices in the Russian agricultural sector are currently not a fashionable trend, but an objective necessity. The efforts of the state to develop institutional and legal conditions for the introduction of ESG principles in the Russian economy, the current trends in this area allow the development of more targeted investment and organizational measures in order to unlock the potential of the effectiveness of sustainable financial instruments. This is especially important in terms of introducing the principles of the circular economy to involve small and medium-sized businesses in the development of new production chains, to expand the use of responsible consumption and development practices, to accelerate the renewal of agricultural machinery. The article discusses the possibilities to improve the practices of responsible consumption and production in the agricultural sector of Russia as one of the key directions of ESG transformation of the agricultural sector within the framework of the paradigm of sustainable development. The main approaches to the problems of waste management (not SMW) in the agricultural sector along with practical ways to solve the problem taking into account ESG factors are analyzed. It is shown that in Russia the problem of food losses and food waste is currently not paid enough attention. The directions of improvement and development of this approach based on ESG practices within the framework of sustainable development of waste management in the agricultural sector are proposed.