Issue № 57. August 2016

Governance and Sustainable Development

Graduate student, School of Public Administration, Lomonosov Moscow State University, Moscow, Russian Federation.
E-mail: aokorochkova@yahoo.com

The article examines the main challenges of the 21st century, the overcoming of which leads to the achievement of Sustainable Development Goals adopted by the UN in 2015 to replace the Millennium Development Goals. Sustainable development requires good governance in both developed and developing countries, in public (global, national, regional, local) and corporate sectors; sound management aimed at inclusive economic growth, social equity, environmental sustainability, security and peace. The author of this article systematically examines sustainable development governance and management, focusing on structural, functional, informational and behavioral subsystems. Moreover, the author elaborates on such global issues as financing, transfer pricing, and the increase of global institutions legitimacy in the field of sustainable development. By carefully considering corporate social responsibility institutions in the context of sustainable development, the author proposes a model of “corporate social responsibility and sustainable development” to show how corporate social responsibility practices influence the capitalization of the company and link to the sustainable development of both business and society.

Keywords

Sustainable development, corporate social responsibility, CSR, corporate sustainability, Millennium Development Goals, MDGs, Sustainable Development Goals, SDGs, strategic management, public sector and corporate governance, good governance, risk management, social investments, stakeholder engagement, sustainable finance, transfer pricing, inclusive economic growth, social equity, environmental sustainability, security and peace.