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DOI: 10.15862/26FAOR425 (https://doi.org/10.15862/26FAOR425)

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Matytsin M.M. Mechanisms for enhancing the investment attractiveness of industrial enterprises based on ESG factors. Russian journal of resources, conservation and recycling. 2025; 12(s4). Available at: https://resources.today/PDF/26FAOR425.pdf (in Russian). DOI: 10.15862/26FAOR425

Mechanisms for enhancing the investment attractiveness of industrial enterprises based on ESG factors

Matytsin Maximilian Mikhailovich
Financial University under the Government of the Russian Federation, Moscow, Russia
E-mail: mmmatytsin@fa.ru

Abstract. The transformation of global financial markets and the growing attention of investors to non-financial characteristics of economic entities necessitate a rethinking of approaches to shaping the investment attractiveness of industrial enterprises. In an environment where environmental, social, and governance parameters of corporate activity are becoming a significant criterion in investment decision-making, the industrial sector of the Russian Federation faces the need to adapt its strategies to the new requirements of the capital market. This study aims to systematize and analyze the mechanisms through which ESG factors influence the investment attractiveness of industrial enterprises, taking into account the specifics of the Russian institutional context and the contemporary regulatory landscape. The paper analyzes the evolution of theoretical approaches to assessing the relationship between ESG parameters and investment attractiveness, examines key regulatory initiatives that shape the trajectory of the ESG agenda in Russian industry, and provides a classification of the mechanisms by which ESG factors affect the cost of capital and access to financing. The findings indicate the emergence of a distinctive ESG transformation model in the Russian economy, within which environmental, social, and governance factors serve as instruments not so much for attracting foreign capital, but rather for securing access to preferential domestic financing, maintaining export positions in Asian markets, and improving operational efficiency. The practical significance of the study lies in the potential application of the proposed classification for developing ESG strategies of industrial enterprises aimed at enhancing investment attractiveness.

Keywords: investment attractiveness; ESG factors; industrial enterprises; sustainable development; green financing; ESG rating; corporate governance; non-financial reporting; green bonds; regional and sectoral economics

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