INTEGRATED ASSESSMENT AND SELECTION OF ALTERNATIVES FOR THE DEVELOPMENT OF SMALL AND MEDIUM-SIZED INDUSTRIAL ENTERPRISES BASED ON THE ESG APPROACH

Abstract

The article examines the methodological principles and criteria for choosing alternatives for the development of small and medium-sized industrial enterprises using the example of aluminum producers. The feasibility and advantages of implementing the ESG approach are substantiated in order to achieve both economic efficiency and sustainable development opportunities in light of modern requirements for industrial producers. The proposed approach is based on a comprehensive assessment of economic, environmental, social, and managerial factors, which can serve as the basis for choosing and making balanced management decisions under the limited financial resources of small and medium-sized enterprises. The proposed approach is principled and supported by international experience implementing ESG principles in economic processes, as well as expert assessments of weighting factors for calculating the integrated assessment of alternatives. The methodological framework relies on multi-criteria decision-making techniques to ensure the comparability and aggregation of heterogeneous indicators into a unified integral index. Particular attention is paid to the model's transparency and adaptability, which enable its application across diverse industrial contexts with minimal modification. However, the choice of weights for partial indicators can be adjusted according to enterprises' strategic aims and market constraints. It depends on the context in which the proposed method is used. The developed methodological principles are useful for choosing management initiatives, ensuring a balance between the requirements of decarbonization, energy efficiency, and economic feasibility, which is a pressing task in the production of critical materials. The practical application of methodological tools will contribute to increasing the efficiency of ESG transformation management of aluminum industry enterprises and strengthening their competitiveness in international markets.