TRANSFORMATION OF TRADITIONAL MODELS OF REGIONAL DEVELOPMENT IN ORDER TO ENSURE THE SUSTAINABILITY OF THE REGION, TAKING INTO ACCOUNT THE ESG PRINCIPLES

Abstract

In the current conditions, when the trends of globalization are being replaced by the trends of regionalization and glocalization, and the idea of globalization is increasingly being criticized in the international economic space, the urgency on the part of federal and regional authorities to study issues related to the transition to a sustainable development model is becoming more acute. The implementation of the principles of sustainable development and the need to take into account the basic provisions of the ESG strategy for regional development is now becoming for all regional socio-economic subsystems not just following current trends, but an objective necessity that allows overcoming the inertial nature of the development of both regional systems themselves and their individual components, increasing innovation activity in the region and making it more investment-oriented attractive. All these tasks are becoming more and more urgent for Russian regions due to the need to function in new economic conditions associated not only with the structural restructuring of both the national and global economy, but also the need to fulfill their economic, social and environmental tasks in these conditions in order to improve the quality of life of their population.