Russian Businesses’ climate strategies in the Green Economy’s concept
Abstract
The paper’s subject explores the mechanisms behind climate strategy implementation within the context of the rise and evolution of a green economy. The object is to examine mining and metals companies, a crucial economic sector responsible for most greenhouse gas and pollutant emissions. This study aims to look at the climate strategy implementation by Russian firms and pinpoint useful improvements for corporate climate management. This study is relevant because of the ongoing shift towards a green economy. This shift is driven by the acknowledgment of human- caused climate change and its economic effects, companies’ technological capacity for environmental sustainability, increasing public desire for eco-health, and stricter regulations across all organizational levels. Metals and metal companies are better at climate and environmental strategies than mining companies, leading to less environmental toxicity. Leaders in effective climate management, the distinctive nature of their strategic plans, and associated areas for potential expansion were discovered through an analysis of climate strategy implementation at five Russian metallurgical companies. Ultimately, the authors conclude that a company’s public standing affects its climate strategy creation, and they recommend that green business actions be recognized via government backing and the establishment of green loan programs. The study’s innovative scientific contribution is its authors’ method for evaluating climate strategy implementation and their advice for enhancing how companies handle climate matters.