Annotation

Market mechanisms of the economy encourage business entities pursuing the goal of making a profit to actively compete in the market, which is reflected in the dynamics of financial and economic indicators of the efficiency of their production and business activities. In the last few decades, countries around the world have thought about the need to maintain favorable environmental conditions, preserve the environment, create new jobs, and involve workers in the affairs of enterprises. Finding an optimal balance between the interests of the state (public interests) and entrepreneurs (private interests) has become an important issue on the legislator's agenda. The ideas of responsible business are reflected in the UN Global Compact, the EU Green Book on Corporate Social Responsibility, and the National Standard of the Russian Federation. “Business Reputation Index of Business Entities (EKG Rating). Assessment Methodology and Procedure for Forming the ECG Rating of Responsible Business» (hereinafter referred to as GOST R 71198-2023), put into effect on February 1, 2024. This study provides an analysis of domestic mechanisms for legal regulation of responsible business conduct. It is revealed that GOST R 71198-2023 has a number of shortcomings, including: overlap with other standards, the «dropout» of certain business entities and requirements from those assessed, as well as the lack of a system of benefits and preferences to support responsible business. As a result of the study, ways were formulated for the further development of legislation in the field of responsible business conduct, including those related to the development of a legal mechanism for assigning the federal status of «responsible business entity» and possible measures of state support for entities that have received such status.