The Relationship Between the Sustainable Development Goals and the ESG Concept

The article analyzes the interrelationships between the UN Sustainable Development Goals (SDGs) (social, ecological and economic components) and the Environmental, Social and Governance (ESG) concept. The history of the development and practical use of SDGs and ESG are considered, and their role in the corporate and public sectors is analyzed. The main components of sustainable development and the ESG approach concepts are compared. The ecosystem of ESG research is considered, and the factors that depend on assessing the company's activities in sustainable development are highlighted. General scientific methods were used in the work: analysis and synthesis, ascent from the abstract to the concrete. The authors analyzed the theoretical basis of sustainable development and socially responsible management. Based on the theoretical analysis, a study of the current situation in implementing SDGs and ESG transformation in the public and corporate sectors was conducted. To form a complete picture of the studied sphere of economic and social relations, theoretical and practical material was used. As a result of the long-term crystallization of the concept of sustainable development, the SDGs are a guideline for forming ESG standards, a plan that requires implementation. At the same time, the ESG Principles are a tool for involving the private sector and civil society in the global sustainable development agenda. Without them, it is impossible to successfully implement the SDGs and achieve the set indicators to benefit social development while preserving the environment. In order to achieve the SDGs, integrating all the components that make up these goals is crucial. This idea is also extrapolated to ESG principles, which are considered in a certain unity, especially in the long term. On the one hand, there is an apparent strengthening of the environmental aspects of the SDGs, which gives hope for their more concrete perception within the framework of the ESG. On the other hand, one of the main qualities of the SDGs (social, ecological and economic components) is their focus on raising awareness between public institutions and private companies regarding the transformation that must take place if humanity wants to follow the path of sustainable development.