Sustainable development as a new component of the global economy

Complex and non-linear political, economic and social processes are shaping changes in the solution of present and future problems of mankind. During the turbulence period, it has become more difficult for many countries to meet sustainable development goals (SDGs). They have had to revise or even abandon environmental, social and corporate responsibility requirements in the short term, taking into account the current realities and feasibility. But, despite the worsening socio-economic situation, global risks and solutions aimed at reducing the long-term damage from their implementation still remain an important component of the strategies of most countries of the world. The aim of the study is to systematize and prioritize the goals of sustainable development, taking into account current world trends, and to define criteria for achieving these goals and the time frame for the implementation these goals
One of the key tools in achieving the SDGs is to strengthen social, corporate and environmental standards for the state and society. Direct and indirect restrictions are introduced at the legislative level, which stimulate the introduction of changes and innovations in business activities. This encourages responsible consumption and care for the environment. The economic effects of socially oriented or, conversely, asocial practices are manifested through market and social mechanisms of influence. This drives stock prices of companies, which are influenced by changes in demand and redistribution in power structures.
The principles of sustainable development are most actively implemented in the developed world, but the effect of it is widespread. It is important to identify and track in a timely manner where the ESG-transformation trends have changed.

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