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SOCIAL RESPONSIBILITY AND ENVIRONMENTAL SAFETY RISKS MONITORING OF METALLURGICAL COMPANIES USING AN INDUSTRIAL APPROACH
Abstract
The study was aimed at monitoring social responsibility and environmental risks of the largest Russian metallurgical companies based on public reports and other sources of information. The methodological basis of the study was the regulatory documents on environmental safety, sustainable development standards in the field of ecology; information and rating agencies data; Internet resources of metallurgical companies, their financial and environmental reports, analytical reviews; works of foreign and Russian scientists on environmental safety issues; monitoring data conducted by the Russian Union of Industrialists and Entrepreneurs. Social responsibility and environmental risks of metallurgical companies monitoring is based on a sectoral approach and identification of their trends. The study included four areas: the quality of environmental management; disclosure of indicators in environmental reports; the relationship between the economic and environmental components of the reporting companies in the field of sustainable development, transparency and consistency of public information about the business, which forms the business and social reputation of the company. Thus, the author's assessment of companies? environmental safety is directly related to their economic and social sustainability, is based on trends in value created, the ratio of investments allocated to environmental protection and stakeholders? paid dividends. The study made it possible to analyse the metallurgical companies? indicators representativeness according to the environmental reports, as well as to assess the level and trends of environmental safety, using the average annual rates of change in the indicators of specific emissions of pollutants into the atmosphere and specific discharges of pollutants into water bodies. The results of the study made it possible to identify both positive and negative factors affecting the environmental safety of Russian metallurgical industrial companies. Among the positive processes, it is worth mentioning an increase in social responsibility for environmental protection, investment of funds in environmental projects, an increase in information transparency of environmental reports, participation in corporate social responsibility ratings. A key indicator of positive trends is an increase in the level of environmental safety over the period from 2016 to 2019. The negative factors are the decline in investment activity of the largest companies and the growing aggressive dividend policy of the owners, which leads to strategic risks of investing in energy-saving and resource-saving technologies and industrial safety.
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