Leningrad region has occupied the 8th position in ESG-ranking of Russian regions prepared by RAEX-Europe ranking agency.
ESG = Environmental, Social, Governance. ESG-ranking of Russian regions assesses environmental and social risks, quality of public administration.
High and reliable assessment of ESG-factors of Leningrad region became an additional confirmation of sustainable development of the region.
This is an attractive factor for foreign investors, because introduction of ESG factors in investment strategies is becoming more and more important for the world investment and financial community.
ESG-rating is based on combination of the exposure to risk and assessment of efficiency of its levelling. Each “negative” indicator received its “match” which allows talking about levelling of existing risks. An example of such “match” can be found in the section of social assessment: “The share of population with income less than the cost of living” – “The volume of expenses of consolidated regional budget spent on “Social policy” per capita, adjusted to the cost of living”. In theory, the higher is the first indicator, the higher should be the second one.
In “public administration” section the assessment was based on revision of availability of key tools for improvement of the quality of public administration and transparency in the regions. It was also completed with integral indices, such as the ranking of investment attractiveness of Russian regions prepared by RAEX and Monitoring of financial situation and the quality of financial management by the Ministry of Finance of the Russian Federation.
