Legal Mechanisms for Protecting the Public Interests of the Russian Federation from the Transboundary Effects of ESG Standards

The study notes that ESG standards formulated in the West have no scientific basis, serve as a tool for competitive struggle against Russian companies, and contradict traditional Russian values. The first ESG standard, based on the decarbonization of the economy, does not relate to the environmental protection objectives set by the President of Russia and poses a threat to such constitutionally significant values/national interests of the country as the sovereignty, security and defense capability of Russia. The content of the second Western ESG standard is incompatible with the principles of developing a healthy society. It includes gender perversions presented as new norms, poses a threat to national interests related to morality and public health, and contradicts the meaning of Russian policy defined by the President of Russia, which consists of saving people and increasing human capital as Russia’s main wealth. The third Western ESG standard, which contains a list of non-financial reporting issues related to companies’ disclosure of information on the Internet, poses a threat to such national interests as defense capability and security. Legal mechanisms for the protection of constitutionally significant values of Russia should be based on a system of incentives for Russian economic structures that ensure Russian national interests, through preferences of the Russian state, Russian investment companies and funds. Russia’s development can be sustainable only under conditions of an influx of all Russian resources, primarily gas and oil, which form the basis of the country’s economy. The development of Russia should be based on national/public interests of the Russian Federation as priorities/standards.

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