MANAGEMENT OF CROSS-BORDER PROJECTS IN THE ENERGY SECTOR IN THE CONTEXT OF SUSTAINABLE DEVELOPMENT

Abstract

This article examines the rationale for an integrated approach to the management of cross-border energy projects within the context of sustainable development. It has been established that the implementation of such projects takes place in a complex, multi-factorial environment characterised by the intergovernmental nature of cooperation, a significant number of stakeholders, a high level of political, economic, technological, security and cyber risks, as well as the need to balance economic, environmental and social objectives. The specific features of cross-border energy projects and their management implications have been systematised, with recommended tools and mechanisms identified for each of the identified features. A conceptual model for the management of cross-border energy projects has been proposed, based on the integrated interaction of three management subsystems, namely, risk management, human resource management and stakeholder management, with end-to-end support from digital technologies and information systems. A sequence for implementing the integrated approach has been developed, ranging from initiation and environmental analysis to the evaluation of results and the accumulation of experience, ensuring the systematic nature of management actions and adaptability to changes in the external environment. A system of ESG criteria has been developed to assess the effectiveness of managing cross-border energy projects across economic, environmental and social dimensions. This ensures compliance with international reporting standards, notably the GRI Standards and the EU Taxonomy, and contributes to the achievement of the UN Sustainable Development Goals, in particular SDG 7 and SDG 13. The proposed approach is particularly relevant for Ukraine in the context of restoring energy infrastructure damaged as a result of military aggression, integration into the European energy system, and attracting international financial support from the EU, the EBRD and the World Bank.