Investment mechanisms of ESG transformation: from corporate governance to infrastructure projects

In the context of the growing importance of sustainable development, the integration of ESG principles is becoming a key direction in the transformation of the tourism industry, influencing both corporate governance and the investment component of tourism infrastructure. This study is devoted to identifying the managerial challenges faced by Russian tourism companies in implementing ESG approaches, as well as to developing practical tools and models that ensure the strategic adaptation of the tourism sector to the new agenda. In the new model of company management, special attention is paid to client-centricity as a connecting element between social responsibility, economic sustainability, and the investment attractiveness of projects. In the investment dimension, the development of modular collective accommodation facilities that comply with ESG strategy principles acquires particular importance. The study examines the features and challenges of modular hotel development, the correlation between modular accommodations and glamping as a modern form of ecological tourism infrastructure, as well as the investment mechanisms for their growth. The aim of the paper is to develop approaches for integrating ESG principles into company management models and the development of the tourism market infrastructure. Managerial barriers to ESG transformation in the Russian tourism sector have been systematized, international and domestic cases of implementing sustainable practices analyzed, and recommendations prepared for companies and public authorities on the institutionalization of ESG. The results show that successful ESG transformation requires managerial initiative, coordination of company actions with state and regional authorities, and investments in innovative and modular infrastructure, creating a foundation for sustainable tourism development in Russian regions.