Assessing the Implementation of the Sustainable Development Goals and Their Impact on the Value of Enterprises in Food Industry

Abstract

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The article presents the sequence and results of assessing the implementation of the conception of sustainable development in the practice of enterprises in the context of their value formation. A scientific and methodological approach to assessing the implementation of the Sustainable Development Goals has been proposed, which provides for the calculation of an integral indicator of the implementation of the Sustainable Development Goals in the activities of enterprises, formed taking into account the indicators of organizational support, systematic implementation and complexity of the results of socially responsible programs and projects. A scientific and methodological approach to determining the value of an enterprise, on the basis of an assessment of the enterprise’s economic and non-economic components using the method of fuzzy sets, is substantiated. The study was carried out on the basis of data from companies operating in the field of food production. It is shown that enterprises associate long-term development with the introduction of the principles of social responsibility and sustainable development into practice. It is determined that the socially responsible projects of the studied enterprises are mainly related to the implementation of the Sustainable Development Goals in the field of ecology and responsible consumption. It is shown that global companies carry out more systematic and comprehensive activities to implement the principles of sustainable development, compared to companies operating at the national level, thereby providing higher value. An assessment of both the economic and non-economic values of the studied enterprises has been carried out. To determine the dependency between the level of implementation of sustainable development goals and the characteristics of the value of enterprises, the method of correlation analysis was used. In the course of the correlation analysis, the coefficient of implementation of the Sustainable Development Goals in the practice of activity was considered as a factor feature, and the coefficients of implementation of both the non-economic and economic values of enterprise were considered as a result. It is noted that the integration of the principles of sustainable development into the practice of activities ensures the growth of the value of enterprise. It is indicated that enterprises that systematically implement socially responsible practices have higher value indicators.