ESG data for commercial banks and economic security

The purpose of the study is to formulate objective specific risks to the economic security of commercial banks generated by the requirements of the sustainable development concept and aggregate recommendations for managing these risks. A comprehensive approach to the object of research was used. The following general scientific methods of analysis were applied: concretization, deduction, comparison, generalization of examples and statistical data from specialized scientific sources. The problems of introducing new data management into traditional decision-making schemes on the example of lending are considered. The problem of technical debt caused by the continuous development of the commercial bank information infrastructure, including connection with the growing needs of ESG information processing, is highlighted. A high estimate of the probable costs of technical debt repayment is shown. It poses a real threat to the operational stability of the bank. Based on the analysis of well-known foreign experience in solving such problems, the authors present recommendations to Russian commercial banks on managing new risks. Large volumes of ESG data should meet the requirements of the sustainable development concept. They can significantly affect the economic security of a commercial bank, through the complication of operational processes, the level and growth of operational risks caused by a decrease in lending profitability. And the need for machine processing of large weakly structured data also creates an additional burden on the information infrastructure and entails an increase in operating costs critical for economic security.

ESG, commercial bank, big data, ESG, economic security, technical debt, risk management