INCORPORATING INDUSTRY SPECIFICITY INTO THE EKG RATING METHODOLOGY: SELECTION OF INDUSTRY-SPECIFIC METRICS AND A WEIGHTING MECHANISM USING THE CASE OF INDUSTRIAL COMPANIES

Abstract

The EKG Rating, introduced in 2023, is a national instrument for assessing responsible business. Its evaluation methodology is established in GOST R 71198–2023, relies on verifiable data, and uses a unified set of criteria for all companies. At the same time, the universal nature of the current evaluation system limits the consideration of industry-specific features and reduces the validity of cross-industry comparison of results. The aim of the study is to develop a tool for incorporating industry specificity into the EKG Rating, using industrial companies as a case study. Based on an analysis of international non-financial disclosure standards and ESG rating methodologies, it was found that a consistent practice is to account for industry specificity through the use of industry-specific metrics. Accordingly, the inclusion of additional metrics is proposed as the key mechanism for industry-specific adjustment. These metrics were selected through content analysis of topic disclosure in the sustainability reports of 10 largest industrial companies. To determine the significance of the proposed metrics, their weights within the EKG blocks were calculated on the basis of an expert survey, with subsequent adjustment according to the degree of regulatory formalization of the relevant topics in the legal acts of the Russian Federation. The result of the study is a list of industry-specific metrics proposed for implementation, with their weights within the ECG blocks and an evaluation system based on a 100-point scale.