This analysis compares climate risk management in sustainability strategies between Norwegian and Russian aquaculture companies, highlighting differences in governance.
Subject. The article addresses the integration of climate risks into corporate sustainability strategies, using the example of publicly listed companies in the aquaculture sector of Russia and Norway. Objective. To compare Norwegian companies (Mowi, Lerøy, and Grieg Seafood) with the Russian company INARCTICA in terms of the presence of sustainability strategies, identification and management of climate risks, and the existence of a dedicated governing body on the board of directors; and to systematize climate risks for companies operating in the Arctic region according to the classification standards of the Task Force on Climate-related Financial Disclosures (TCFD). Results. The study finds that Norwegian companies demonstrate higher maturity in managing climate-related threats. Practical significance. It is recommended that Russian companies enhance their sustainability strategies by conducting a qualitative assessment of climate risks in line with TCFD standards. The article outlines risk mitigation measures based on best international practices.
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Батаева et al. (2025) studied this question.
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