March 2026 (published: 13.03.2026)
Number 1(64)
UDC 658
DOI 10.17586/2310-1172-2026-19-1-50-60
Corporate governance as a driver of esg transformation
Reference for citation: Izmaylov M.K., Pupentsova S.V. Corporate governance as a driver of esg transformation. Scientific journal NRU ITMO. Series «Economics and Environmental Management». 2026. № 1. Р. 50-60. DOI: 10.17586/2310-1172-2026-19-1-50-60.
Abstract. The subject of this study is corporate governance, viewed as a systemic driver of profound ESG transformation in corporate business models. The aim of the research is to identify and theoretically substantiate the key elements and mechanisms of governance architecture that facilitate the transition from merely declarative adherence to sustainable development principles to their organic integration into corporate strategy and operational activities. The analysis focuses on existing theoretical approaches to the relationship between corporate governance and ESG, as well as the contemporary scientific discourse in Russia, reflecting the adaptation of the global agenda to national conditions. The methodological foundation consists of a set of non-empirical qualitative methods, including a systematic analytical review of the scientific literature, theoretical analysis of concepts, and literary critique to identify gaps and contradictions within the research field. The paper systematically addresses tasks related to analyzing the evolution of theoretical perspectives, studying the specifics of the Russian context, critiquing prevailing simplified approaches, and synthesizing a procedural model. The research conducted reveals that significant adaptation of the ESG agenda is occurring in the Russian context, shifting its focus towards addressing national development challenges. The findings demonstrate the inadequacy of traditional views that perceive corporate governance solely as a tool for compliance or economic rationalization. The central conclusion establishes that the driver of transformation is not formal integration, but rather the quality of specific procedural governance mechanisms, such as the competency profile of the board of directors, substantive integration of ESG into the work of committees, revision of the risk management system, and, most importantly, alignment of the executive compensation system with the achievement of measurable ESG outcomes. The scientific novelty lies in rethinking the role of corporate governance as an active interpreter that synthesizes external requirements with internal strategic logic. The results form a basis for practical recommendations. It is suggested that regulators complement sustainable development policies with incentives for improving internal governance procedures within boards of directors. Company management and owners are advised to conduct an audit of the quality of procedural aspects of corporate governance, utilizing the conceptual model presented in the article. Further application of the findings is possible in the field of corporate education and the development of training courses for directors, focused on enhancing competencies related to ESG transformation.
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Keywords: corporate governance, ESG transformation, sustainable development, board of directors, governance mechanisms, procedural approach, Russian companies, management theory.
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