Effect of a Company's Gr Practices on Implementation of Sustainability Strategy

The research is devoted to the analysis of the GR-practices' effect on the implementation of sustainable development strategy of companies. Given the growing attention to the ESG concept, the need to clarify the role of GR-management in the social, environmental and economic aspects of companies' activities becomes especially relevant. Within the framework of the research the theoretical analysis of existing approaches to GR-management and its tools was carried out, as well as an empirical study of their implementation in practice in the largest Russian companies. The correlation between the specialized function of GR-management in companies and their performance in sustainable development practices has been statistically proved, and the industry specifics of these correlations have been determined. Based on the results of the study, specific recommendations are given on the implementation and application of GR tools in the context of sustainable development practices.