GREEN INDICES AND THEIR ROLE IN THE IMPLEMENTATION OF ESG IN THE CONTEXT OF SUSTAINABLE ECONOMIC DEVELOPMENT
Authors: Paliienko Tetiana , Diachenko Vlada 
Published: January 2025

The article under scrutiny herein focuses on an in-depth examination of the pivotal role that green indices play in the promotion of sustainable economic and business development. A comprehensive analysis is undertaken to explore the influence of these indices on the attraction of investments, the shaping of corporate reputations, the generation of new employment opportunities in the renewable energy sector, and the transformation of the global labour market during the era of the green economy. The present study is of particular pertinence in light of the mounting significance of environmental, social and governance (ESG) factors in the contemporary economy, as well as the imperative to evaluate the sustainable development of enterprises within the context of global climate challenges, including potential investors seeking to allocate capital towards green projects. The purpose of the research is to study the functioning of green indices, their impact on sustainable development, investment attraction and job creation in the renewable sectors of the economy. A complex of general scientific methods (comparative analysis) and specific scientific knowledge methods (bibliometric, cluster and statistical analysis) is used in the work, which has made it possible to carry out a comprehensive analysis of publication activity and relationships between ESG fields of activity based on the Scopus database; to carry out a comparative analysis and provide characteristics for different types of green indices and highlight their role in sustainable development; and to study job creation in the renewable energy sectors. The results of the study show that "green" indices are one of the tools for the transformation of the modern economy towards environmental sustainability and serve as an effective tool to stimulate companies towards sustainable development, providing reputational, financial and strategic benefits. The research shows that the number of publications dedicated to this topic has increased significantly over the past decade, indicating an increased interest in ESG practices by the academic and business communities. The main green indices that reflect companies' adherence to the principles of sustainable development, such as assessing transparency in reporting, environmental innovation and risk management, are described. The practical benefits of these indices lie in their ability to increase the investment attractiveness of companies, encourage innovation and ensure corporate social responsibility. The authors of the study concluded that green indices have two main effects. Firstly, they are effective in stimulating companies to implement innovative sustainable practices. Secondly, they contribute to the development of new sectors of the economy, for example in the field of renewable energy. The result of these two factors is the creation of millions of new jobs around the world. This is especially relevant for countries that are trying to reduce unemployment. Consequently, the article holds practical value for companies, investors and legislative authorities of countries worldwide, offering effective tools for implementing ESG criteria, attracting investment and developing a green economy.