ejebsEurasian Journal of Economic and Business StudiesНазвание журнала на русском2789-82532789-8261University of International Business named after K. Sagadiyev LLP10.47703/ejebs.v69i1.455ejebs-25Research ArticleСтатьиAssessment of ESG Efficiency of Oil and Gas Sector in Kazakhstanhttps://orcid.org/0000-0003-2108-3258BeisembayevGalymzhan
Master of Business, Researcher, Email: assel.akhmetkyzy@gmail.com
assel.akhmetkyzy@gmail.comUniversity of International Business named after K. Sagadiyev, Almaty, Kazakhstan.Kazakhstan20253003202569118–31Copyright © Beisembayev G., Akhmetkyzy A., 20252025Beisembayev G., Akhmetkyzy A.Beisembayev G., Akhmetkyzy A.Данная работа распространяется под лицензией Creative Commons Attribution 4.0.This work is licensed under a Creative Commons Attribution 4.0 License.https://ejebs.uib.kz/jour/article/view/25
EconomyEconomic StabilitySustainable DevelopmentCorporate GovernanceOil ProductionResource ManagementStrategic DevelopmentKazakhstanThis research has been funded by the Science Committee MSHE RK (grant “Strategy of structural and technological modernization of the basic sectors of the economy of the Republic of Kazakhstan based on ESG: criteria, mechanisms and forecast scenarios” BR24993089).ReferencesAhmad, N., Ribarsky, J., & Reinsdorf, M. (2017). Can potential mismeasurement of the digital economy explain the post-crisis slowdown in GDP and productivity growth? OECD Statistics Working Papers, No. 2017/09. A Publishing. https://doi.org/10.1787/a8e751b7-enAhmad, N., Ribarsky, J., & Reinsdorf, M. (2017). Can potential mismeasurement of the digital economy explain the post-crisis slowdown in GDP and productivity growth? OECD Statistics Working Papers, No. 2017/09. A Publishing. https://doi.org/10.1787/a8e751b7-enAkhunov, R. R., Akhunova, L. R., Marichev, S. G., & Nizamutdinov, R. I. (2021). Russian oil and gas regions during the COVID-19 crisis and their digital transformation. R-Economy, 7(3), 179-191. https://doi.org/10.15826/recon.2021.7.3.016Akhunov, R. R., Akhunova, L. R., Marichev, S. G., & Nizamutdinov, R. I. (2021). Russian oil and gas regions during the COVID-19 crisis and their digital transformation. R-Economy, 7(3), 179-191. https://doi.org/10.15826/recon.2021.7.3.016Aldowaish, A., Kokuryo, J., Almazyad, O., & Goi, H. C. (2022). Environmental, Social, and Governance Integration into the Business Model: Literature Review and Research Agenda. Sustainability, 14(5), 2959. https://doi.org/10.3390/su14052959Aldowaish, A., Kokuryo, J., Almazyad, O., & Goi, H. C. (2022). Environmental, Social, and Governance Integration into the Business Model: Literature Review and Research Agenda. Sustainability, 14(5), 2959. https://doi.org/10.3390/su14052959Amel-Zadeh, A., & Serafeim, G. (2018). Why and how investors use ESG information: Evidence from a global survey. Financial Analysts Journal, 74(3), 87–103. https://doi.org/10.2469/faj.v74.n3.2Amel-Zadeh, A., & Serafeim, G. (2018). Why and how investors use ESG information: Evidence from a global survey. Financial Analysts Journal, 74(3), 87–103. https://doi.org/10.2469/faj.v74.n3.2Aouadi, A., & Marsat, S. (2018). Do ESG Controversies Matter for Firm Value? Evidence from International Data. Journal of Business Ethics, 151, 1027-1047. https://doi.org/10.1007/S10551-016-3213-8Aouadi, A., & Marsat, S. (2018). Do ESG Controversies Matter for Firm Value? Evidence from International Data. Journal of Business Ethics, 151, 1027-1047. https://doi.org/10.1007/S10551-016-3213-8Bereznoi, A. (2021). Global oil & gas corporations in the race for technological superiority. World Economy and International Relations, 65(5), 59-67. https://doi.org/10.20542/0131-2227-2021-65-5-59-67Bereznoi, A. (2021). Global oil & gas corporations in the race for technological superiority. World Economy and International Relations, 65(5), 59-67. https://doi.org/10.20542/0131-2227-2021-65-5-59-67Brantley, S.T., Bissett, S., Young, D.O, Wolner, C.W., & Moore, L.G. (2014). Barrier Island Morphology and Sediment Characteristics Affect the Recovery of Dune Building Grasses following Storm-Induced Overwash, PLOS ONE, 9. http://dx.doi.org/10.1371/journal.pone.0104747Brantley, S.T., Bissett, S., Young, D.O, Wolner, C.W., & Moore, L.G. (2014). Barrier Island Morphology and Sediment Characteristics Affect the Recovery of Dune Building Grasses following Storm-Induced Overwash, PLOS ONE, 9. http://dx.doi.org/10.1371/journal.pone.0104747Brzeszczyński, J., Ghimire, B., Jamasb, T., & McIntoshd, G. (2019). Socially Responsible Investment and Market Performance: The Case of Energy and Resource Companies. The Energy Journal, 40, 17 - 72. https://doi.org/10.5547/01956574.40.5.jbrzBrzeszczyński, J., Ghimire, B., Jamasb, T., & McIntoshd, G. (2019). Socially Responsible Investment and Market Performance: The Case of Energy and Resource Companies. The Energy Journal, 40, 17 - 72. https://doi.org/10.5547/01956574.40.5.jbrzCharfeddine, L., Klein, T., & Walther, T. (2020). Reviewing the oil price–GDP growth relationship: A replication study. Energy Economics, 88, 104786. https://doi.org/10.1016/j.eneco.2020.104786Charfeddine, L., Klein, T., & Walther, T. (2020). Reviewing the oil price–GDP growth relationship: A replication study. Energy Economics, 88, 104786. https://doi.org/10.1016/j.eneco.2020.104786Deng, N. (2013). Study on the management innovation of enterprises in knowledge economy era. Business and Management Research, 2(4), 142-147. https://doi.org/10.5430/bmr.v2n4p142Deng, N. (2013). Study on the management innovation of enterprises in knowledge economy era. Business and Management Research, 2(4), 142-147. https://doi.org/10.5430/bmr.v2n4p142Dowling, N.A., Youssef, G.J., Jackson, A.C., Pennay, D., Francis, K.L., Francis, K.L., Pennay, A., & Lubman, D.I. (2015). National estimates of Australian gambling prevalence: findings from a dual‐frame omnibus survey. Addiction (Abingdon, England), 111, 420 - 435. https://doi.org/10.1111/add.13176Dowling, N.A., Youssef, G.J., Jackson, A.C., Pennay, D., Francis, K.L., Francis, K.L., Pennay, A., & Lubman, D.I. (2015). National estimates of Australian gambling prevalence: findings from a dual‐frame omnibus survey. Addiction (Abingdon, England), 111, 420 - 435. https://doi.org/10.1111/add.13176Eccles, R. G., Kastrapeli, M. D., & Potter, S. J. (2017). How to integrate ESG into investment decision-making: Results of a global survey of institutional investors. Journal of Applied Corporate Finance, 29(4), 125–133. https://doi.org/10.1111/jacf.12267Eccles, R. G., Kastrapeli, M. D., & Potter, S. J. (2017). How to integrate ESG into investment decision-making: Results of a global survey of institutional investors. Journal of Applied Corporate Finance, 29(4), 125–133. https://doi.org/10.1111/jacf.12267Egorov, O. I., Amaniyazova, G. D., & Saubetova, B. S. (2018). Oil refining and gas chemistry as priorities of innovative development of economy of oil and gas regions of Kazakhstan. Economy: strategy and practice, 3, 87-98. https://esp.ieconom.kz/jour/article/view/40/0?locale=en_US (In Russ.)Egorov, O. I., Amaniyazova, G. D., & Saubetova, B. S. (2018). Oil refining and gas chemistry as priorities of innovative development of economy of oil and gas regions of Kazakhstan. Economy: strategy and practice, 3, 87-98. https://esp.ieconom.kz/jour/article/view/40/0?locale=en_US (In Russ.)Ferrat, Y., Daty, F., & Burlacu, R. (2022). Short- and long-term effects of responsible investment growth on equity returns. Journal of Risk Finance, 23(1), 1-13. https://doi.org/10.1108/JRF-07-2021-0107Ferrat, Y., Daty, F., & Burlacu, R. (2022). Short- and long-term effects of responsible investment growth on equity returns. Journal of Risk Finance, 23(1), 1-13. https://doi.org/10.1108/JRF-07-2021-0107Fattouh, B., Poudineh, R., & West, R. (2019). The rise of renewables and energy transition: What adaptation strategy exists for oil companies and oil - exporting countries? Energy Transitions, 3, 45–58. https://doi.org/10.1007/s41825-019-00013-xFattouh, B., Poudineh, R., & West, R. (2019). The rise of renewables and energy transition: What adaptation strategy exists for oil companies and oil - exporting countries? Energy Transitions, 3, 45–58. https://doi.org/10.1007/s41825-019-00013-xGiese, G., Lee, L.-E., Melas, D., Nagy, Z., & Nishikawa, L. (2019). Performance and risk analysis of index-based ESG portfolios. The Journal of Index Investing, 9(4), 46–57. https://doi.org/10.3905/jii.2019.9.4.046Giese, G., Lee, L.-E., Melas, D., Nagy, Z., & Nishikawa, L. (2019). Performance and risk analysis of index-based ESG portfolios. The Journal of Index Investing, 9(4), 46–57. https://doi.org/10.3905/jii.2019.9.4.046Gurvich, E. (2004). Macroeconomic Role of Russia's Oil and Gas Sector. Voprosy Ekonomiki, 10, 4-31. https://doi.org/10.32609/0042-8736-2004-10-4-31 (In Russ)Gurvich, E. (2004). Macroeconomic Role of Russia's Oil and Gas Sector. Voprosy Ekonomiki, 10, 4-31. https://doi.org/10.32609/0042-8736-2004-10-4-31 (In Russ)Hastings, A., & Smith, P. (2020). Achieving net zero emissions requires the knowledge and skills of the oil and gas industry. Frontiers in Climate, 2, 601778. https://doi.org/10.3389/fclim.2020.601778Hastings, A., & Smith, P. (2020). Achieving net zero emissions requires the knowledge and skills of the oil and gas industry. Frontiers in Climate, 2, 601778. https://doi.org/10.3389/fclim.2020.601778Janicka, M., & Sajnóg, A. (2021). The European Union’s Environmental Policy and Long-Term Investments of Enterprises. European Research Studies Journal, 4, 335-355. https://doi.org/10.35808/ersj/2660Janicka, M., & Sajnóg, A. (2021). The European Union’s Environmental Policy and Long-Term Investments of Enterprises. European Research Studies Journal, 4, 335-355. https://doi.org/10.35808/ersj/2660Karabalin, U. S., & Tukaev, A. K. (2016). New challenges and perspectives for the global oil market. Neft i gaz, 4(94), 11-21. http://neft-gas.kz/f/no4_neft_i_gaz_no4_2016.pdf (In Russ)Karabalin, U. S., & Tukaev, A. K. (2016). New challenges and perspectives for the global oil market. Neft i gaz, 4(94), 11-21. http://neft-gas.kz/f/no4_neft_i_gaz_no4_2016.pdf (In Russ)Kiseleva, O. N., Kulbyakina, A. V., & Ozerov, N. A. (2020). Innovative development technologies of oil and gas industries. IOP Conference Series: Materials Science and Engineering, 862, 062090. https://doi.org/10.1088/1757-899X/862/6/062090Kiseleva, O. N., Kulbyakina, A. V., & Ozerov, N. A. (2020). Innovative development technologies of oil and gas industries. IOP Conference Series: Materials Science and Engineering, 862, 062090. https://doi.org/10.1088/1757-899X/862/6/062090Lanshina, T., Barinova, V., Kondratiev, A., & Romantsov, M. (2020). Sustainable development and digitalization: The unusual COVID-19 crisis requires original solutions. International Organisations Research Journal, 15(4), 91–114. https://doi.org/10.17323/1996-7845-2020-04-05Lanshina, T., Barinova, V., Kondratiev, A., & Romantsov, M. (2020). Sustainable development and digitalization: The unusual COVID-19 crisis requires original solutions. International Organisations Research Journal, 15(4), 91–114. https://doi.org/10.17323/1996-7845-2020-04-05Noll, F., Lüke, W., Wappler, M., & Oles, M. (2018). Industrial companies in innovation ecosystems. 2018 IEEE International Conference on Engineering, Technology and Innovation (ICE/ITMC), 1-5. https://doi.org/10.1109/ice.2018.8436300Noll, F., Lüke, W., Wappler, M., & Oles, M. (2018). Industrial companies in innovation ecosystems. 2018 IEEE International Conference on Engineering, Technology and Innovation (ICE/ITMC), 1-5. https://doi.org/10.1109/ice.2018.8436300OECD. (2020) OECD Business and Finance Outlook 2020: Sustainable and Resilient Finance, OECD Publishing, Paris, https://doi.org/10.1787/eb61fd29-enOECD. (2020) OECD Business and Finance Outlook 2020: Sustainable and Resilient Finance, OECD Publishing, Paris, https://doi.org/10.1787/eb61fd29-enOkeke, I. C., Agu, E. E., Ejike, O. G., Ewim, C. P.-M., & Komolafe, M. O. (2022). Developing a regulatory model for product quality assurance in Nigeria’s local industries. International Journal of Frontline Research in Multidisciplinary Studies, 01(02), 054–069. https://doi.org/10.56355/ijfrms.2022.1.2.0055Okeke, I. C., Agu, E. E., Ejike, O. G., Ewim, C. P.-M., & Komolafe, M. O. (2022). Developing a regulatory model for product quality assurance in Nigeria’s local industries. International Journal of Frontline Research in Multidisciplinary Studies, 01(02), 054–069. https://doi.org/10.56355/ijfrms.2022.1.2.0055Pera, J. (2017). An enterprise’s financial stability and its sustainable growth: A risk-based perspective. International Entrepreneurship Review, 3(2), 49-62. https://doi.org/10.15678/PM.2017.0302.04Pera, J. (2017). An enterprise’s financial stability and its sustainable growth: A risk-based perspective. International Entrepreneurship Review, 3(2), 49-62. https://doi.org/10.15678/PM.2017.0302.04Perepelitsa, D. G., & Zhdanova, O. A. (2017). Peculiarities of investment decision-making in the oil and gas industry aimed to ensure sustainable growth of the Russian economy. International Journal of Energy Economics and Policy, 7(1), 216-223. https://econjournals.com/index.php/ijeep/article/ view/3859Perepelitsa, D. G., & Zhdanova, O. A. (2017). Peculiarities of investment decision-making in the oil and gas industry aimed to ensure sustainable growth of the Russian economy. International Journal of Energy Economics and Policy, 7(1), 216-223. https://econjournals.com/index.php/ijeep/article/ view/3859Peng, Y., Li, J., & Yi, J. (2019). International oil companies’ low-carbon strategies: Confronting the challenges and opportunities of global energy transition. IOP Conference Series: Earth and Environmental Science, 237(4), 042038. https://doi.org/10.1088/1755-1315/237/4/042038Peng, Y., Li, J., & Yi, J. (2019). International oil companies’ low-carbon strategies: Confronting the challenges and opportunities of global energy transition. IOP Conference Series: Earth and Environmental Science, 237(4), 042038. https://doi.org/10.1088/1755-1315/237/4/042038RAEX. (2024). ESG ranking of oil and gas companies. Retrieved October 25, 2024 from https://raex-rr.com/RAEX. (2024). ESG ranking of oil and gas companies. Retrieved October 25, 2024 from https://raex-rr.com/Tleuzhanova, M., & Dildebayeva, Zh. (2024). Role of oil production in the economic development of Kazakhstan. Neft i gaz, 4(142), 102-111. http://neft-gas.kz/f/nig_4_104-113.pdf (in Russ)Tleuzhanova, M., & Dildebayeva, Zh. (2024). Role of oil production in the economic development of Kazakhstan. Neft i gaz, 4(142), 102-111. http://neft-gas.kz/f/nig_4_104-113.pdf (in Russ)
The authors declare that there are no conflicts of interest present.