ESG DIPLOMACY AND NEGOTIATIONS IN THE DIMENSIONS OF A COMPETITIVE WORLD ORDER

Abstract

The purpose of the article is twofold: firstly, to study modern aspects of the development of ESG diplomacy as an important tool of geopolitics; and secondly, to intensify international negotiations for the implementation of sustainable development goals. The contemporary paradigm of international interaction encompasses the integration of sustainable development diplomacy, environmental diplomacy and corporate diplomacy, with the objective of enhancing the resilience of economic systems. The sustainable development goals require new mechanisms for reaching compromises and making decisions within the framework of multi-level negotiation processes in a competitive world order. The subject of the study is ESG diplomacy and negotiations in a competitive world order. These present the mechanisms by which a modern system of international interaction and global regulation is formed. The research premises were determined by reviewing the transformation of the economic globalisation environment, the institutionalisation of ESG and sustainable development, the expansion of the subject field of international negotiations, the change in strategies and tactics of market actors' behaviour, and the integration of various types of diplomatic activity. Methodology. The study was based on the systematisation of scientific approaches to ESG diplomacy, as well as the definition of its role in international economic relations. In the context of identifying the interrelationship of environmental, social, managerial and diplomatic factors in the development of international co-operation, a new view is proposed. The systemic approach adopted substantiates the importance of developing ESG diplomacy as a comprehensive tool for reconciling economic, political and public interests. Results. ESG diplomacy is defined as a multi-level system of international coordination that integrates sustainable development values and standards into foreign policy instruments, international negotiations and economic partnerships. It contributes to changing the architecture of the competitive world order, building public trust and promoting responsible global governance. Practical implementation. It has been noted that Ukraine’s ESG diplomacy is of great importance for safeguarding national economic interests, fostering international dialogue in the context of European integration and post-war reconstruction. On Ukraine’s agenda are: European integration, ESG harmonisation, attracting ESG investment, ‘green’ financing, ESG-based reform of Ukraine’s reconstruction, coordination of partners’ and donors’ actions in the ESG sphere, integration of ESG criteria into negotiation processes with international partners, promotion of the Ukrainian ESG brand on global markets, and so forth. Value/Originality. The significance of ESG diplomacy as a form of international interaction and a new dimension of the economisation of diplomacy has been demonstrated. This broadens the scope of theoretical and practical research into international economic, political and diplomatic processes. The proposed approach enables the interpretation of the world order as a contested and competitive arena for the establishment of global regulations. The convergence of SD and ESG approaches forms the basis of the logic of global regulation.