3 January 2025
One of the components of the National Strategy for Sustainable Development of Belarus until 2040 is compliance with ESG standards, which imply for businesses a responsible attitude to the environment, high social obligations and best corporate governance practices.
To implement the principles of ESG and sustainable development in the activities of business entities, the Ministry of Economy of the Republic of Belarus has developed methodological recommendations.
The methodological recommendations advise businesses to choose the most relevant goals, objectives and methods for achieving sustainable development, commensurate with the nature of the activity and the scale of the impact on the economy, society and the environment. Along with the goals, businesses should “develop and adopt internal ESG documents” and build an organizational management model necessary to effectively ensure that ESG factors are taken into account at all levels of decision-making. Specific measures should also be implemented. For example, increasing the number of jobs for people with disabilities, introducing a waste management system, including sorting, recycling, disposal and reuse, etc.
The introduction of the ESG concept into the work of companies makes an important contribution to the implementation of the 2030 Agenda for Sustainable Development by the Republic of Belarus.
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