Assessing the Integration of Green Economy Principles in the Regions of the North Caucasus Federal District: Methodology Testing and Comparative ESG Analysis

In the context of the global trend towards sustainable development and greening the economy, the task of adequately assessing the progress of Russian regions in this area is particularly relevant. This article is devoted to the development and testing of the author's methodology for a comparative analysis of the level of integration of "green" economy elements in the constituent entities of the North Caucasus Federal District (NCFD). The methodological basis of the study is an ESG rating model (Environmental , Social , Governance), adapted to the regional level, supplemented by a block of financial and economic indicators. Based on a balanced indicator system, a quantitative assessment and clustering of the NCFD regions according to the degree of their "green" transformation for the period 2020-2024 was carried out. The results of the study demonstrate a stable positive trend in ESG integration in all constituent entities of the district, while revealing significant interregional differentiation. The resulting comprehensive ranking allowed us to identify leaders (Stavropol Krai, Kabardino-Balkarian Republic) and laggards in the process, as well as identify key drivers (budgetary security, investment activity) and barriers (weak governance institutions) to the transition. The article concludes with practical recommendations for regional governments aimed at accelerating the green transformation, taking into account the identified specifics. The proposed methodological framework is valuable for further comparative studies of sustainable development at the subnational level and can serve as a basis for developing targeted strategic policies.