Implementation of sustainable business development standards

The article substantiates the necessity of implementing a sustainable development strategy for Ukrainian  enterprises at the current stage. The essence of the company's sustainable development strategy and its main  components: environmental, economic and social are detailed, and the positive effects of its implementation are  determined. The expediency of implementing the GRI standards into the enterprise's practice, which provides for  the enterprise's reporting on three key groups of environmental, economic and social indicators, as well as the ESG  standard, which is based on the implementation of a high level of environmental quality standards, social  compliance and relevant management standards, is substantiated. The GRI standard is focused on the  implementation of the assessment of the mutual impact of the enterprise on ecology, economy and society in two  directions "from the outside in" and "from the inside out" and the formation of the enterprise's reporting system  on this basis. The implementation of ESG sustainable business standards allows to harmonize the needs and  interests of owners, employees, suppliers, customers and investors, and on this basis to form a vision of the overall  strategy of the company's development. In addition to environmental and social responsibility, this standard  provides for the achievement of a high level of management standards based on the principles of ensuring the  transparency of the company's work, compliance with regulatory requirements, a system of top management rewards taking into account sustainability criteria, the introduction of a risk management system, ethical business  behavior, and avoidance of conflicts of interest . The research details the stages of implementing ESG standards, which are clarification of the interests  and goals of external and internal stakeholders, prioritization of sustainable development tasks, assessment of the  current state of the enterprise in relation to ESG standards, definition of goals, assessment of gaps between the  goals and the current state of the enterprise in relation to sustainable development development, development of a  plan for implementation of standards, implementation of standards, collection, evaluation and analysis of  information based on the results of implementation of standards, adjustment of activities in accordance with  detected deviations. It was concluded that the implementation of the proposed standards will contribute to the formation of a  number of competitive advantages, among which are the achievement of high environmental standards, the growth  of energy efficiency and the reduction of waste capacity, the reduction of operating costs, the promotion of the  attraction of "green investments", and the overcoming of barriers to entering international markets.

sustainable development; sustainable development strategy; sustainable development standards; social responsibility; management standards