Expert ESG Dialogue

In the face of rapid technological progress, climate change and global challenges, more and more countries recognize the importance of integrating sustainable development principles into their economic and social policies. The concept of ESG (Environmental, Social, Governance) has become an integral part of corporate governance strategies, investment decisions, and public responsibility.

The BRICS WBA initiated launch of the Expert Dialogue on ESG-agenda with purpose to facilitate the exchange of experience and best practices, as well as to lay the foundation for joint projects and initiatives aimed at ensuring sustainable development in the BRICS space.

The directions for international cooperation on ESG agenda:

1. Creation of a common information register for ESG projects in BRICS countries: Collaborating efforts of the BRICS countries in creating a common information resource will allow effective tracking and analyzing implemented projects, exchanging experiences, and supporting the development of
sustainable practices.

2. Formation of a single market for carbon units in BRICS: Establishing mechanism for trading carbon units will contribute to reducing greenhouse gas emissions and stimulating the development of environmentally friendly technologies in BRICS.

3. Implementation of joint ESG projects among energy companies in BRICS: Collaboration among companies will enable the creation of innovative projects aimed at improving energy efficiency, reducing emissions, and enhancing business social responsibility.

4. Exchange of experience and best practices in reducing carbon footprint and greenhouse gas emissions among BRICS member-countries: Mutual knowledge and experience exchange will help countries improve their environmental performance and make a significant contribution to combating climate change.

5. Conducting educational programs on corporate social responsibility and sustainable development for business to further integrate BRICS countries: Training and knowledge exchanging of ESG practice will help raise awareness within the business community about the importance of sustainable development.

6. Acceleration of a just transition and increase of women’s participation in the energy sector in BRICS: Supporting women in the energy sector contributes to creating equal opportunities and diversity in the industry, which is a key factor for achieving sustainable development.

Project’s initiator: Russian Chapter.