Adapting ESG Principles to Contracting Practices: Towards Sustainable Business Agreements.

Today, the role and importance of resource conservation, a careful attitude toward the environment, compliance with corporate ethics, and transition to a closed-cycle economy are increasing. The business community is increasingly incorporating environmental, social, and governance factors into its activities and following the principles of sustainable development when concluding contracts. In view of these trends, the topic of concluding contracts that reflect the principles of sustainable development is of both scientific and practical interest. In this context, the study aims to identify the attributes of sustainable contracts and supplement the basic principles and conditions under which they are concluded. The research methodology relies on the analysis of a limited number of studies selected using special parameters and comprehensively reviewed, as well as the method of analogy and comparative analysis. The conducted research indicates that a sustainable contract should be defined as an agreement whose conditions are focused on reducing risks in the economic, environmental, and social spheres to protect the rights and interests of present and future generations. Key findings suggest that incorporating ESG principles systematically can lead to corporate profit growth, attraction of investments, and improved reputation. These findings underscore the significance of sustainable contracts in promoting responsible business practices and enhancing the competitiveness of firms in the international market. [ABSTRACT FROM AUTHOR]