Assessment of the Impact of ESG on the Investment Attractiveness of Companies in the Global Oil and Gas Sector

The relevance of the research topic is due to the volatility of the oil and gas market and the ongoing structural changes under the influence of events such as the energy transition. In this context, sustainable development strategies developed and implemented by the world's largest oil companies are of particular importance. Under the current conditions in the sector, it is more difficult for investors to analyze companies, and therefore they began to be attracted by non-financial ways to assess the prospects for the development of corporations. As a result, companies that use more transparent methods of disclosing their information are developing new ESG programs and becoming clear leaders for investors. Investors have begun to turn their attention to ESG, as clearly traditional mining has a negative impact on the environment, oil prices are unstable, and pressure exerted by an informed society and the state may have negative consequences in the future. To build a multiple regression, data from 42 large oil and gas companies over the past 5 years were taken. As a dependent variable, we used the indicator - ROE, and for ESG - the international rating MSCI ESG Ratings. To improve the model, we have included financial indicators - dividend payments and earnings per share, as well as non-financial ones.