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DOI: 10.15862/13FAOR325 (https://doi.org/10.15862/13FAOR325)

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Alferova A.A. Internal control of ESG indicators: current issues and development directions. Russian journal of resources, conservation and recycling. 2025; 12(s3). Available at: https://resources.today/PDF/13FAOR325.pdf (in Russian). DOI: 10.15862/13FAOR325

Internal control of ESG indicators: current issues and development directions

Alferova Alexandra Alexandrovna
Financial University under the Government of the Russian Federation, Moscow, Russia
E-mail: vexalv@mail.ru

Abstract. The growing institutionalization of the sustainable development agenda in the Russian economy is accompanied by a qualitatively more complex disclosure of non-financial information requirements and the emergence of new risk categories related to the reliability of environmental, social, and governance indicators. With the transition from the advisory nature of ESG data publication to mandatory disclosure, as mandated by Moscow Exchange requirements for issuers with first and second listing levels, and given the adoption of the Public Capital Standard by the Russian Government, the importance of internal control as a mechanism for ensuring the reliability, comparability, and relevance of non-financial data is clearly increasing. This study aims to identify key issues in the internal control of ESG indicators in Russian organizations and to substantiate promising areas for improving control mechanisms. This paper systematizes the theoretical foundations of internal control over non-financial information, analyzes the current risks of ESG data distortion, including the phenomenon of «greenwashing», and assesses the readiness of the Russian corporate sector to ensure an adequate level of control over ESG reporting. The study’s results indicate a significant gap between growing regulatory expectations and the actual level of maturity of the internal control procedures of most Russian companies. The scientific novelty lies in the author’s development of a classification of ESG information distortion risks and the formulation of practical recommendations for the development of a multi-level system of internal control over non-financial indicators, taking into account the specifics of national regulation and established corporate practice. The practical significance of this paper lies in the potential use of the proposed recommendations by companies, regulators, and rating agencies to improve the quality of ESG disclosure.

Keywords: internal control; ESG indicators; non-financial reporting; sustainable development; greenwashing; verification; Business Public Capital Standard; corporate governance; rating agencies; Bank of Russia

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