Regulatory framework for the formation of sustainability reporting

Autor: D.O. Seletska
Jazyk: English<br />Polish<br />Russian<br />Ukrainian
Rok vydání: 2024
Předmět:
Zdroj: Проблеми теорії та методології бухгалтерського обліку, контролю і аналізу, Vol 2, Iss 2024, Pp 58-66 (2024)
Druh dokumentu: article
ISSN: 1994-1749
2708-4957
DOI: 10.26642/pbo-2024-2(58)-58-66
Popis: This article is dedicated to the study of the regulatory framework for the formation of sustainability reporting, the relevance of which is determined by the increasing impact of enterprisesʼ activities on the environment, society, and the economy. To date, the formation of sustainability reporting for Ukrainian enterprises is not mandatory, but in the context of enhanced European integration, understanding international and European reporting standards becomes critically important. The aim of the research is to review the current regulatory framework for the formation of sustainability reporting and to develop proposals for its implementation in the activities of Ukrainian business entities. The article analyzes the standards of the Global Reporting Initiative (GRI), European Sustainability Reporting Standards (ESRS), and the standards of the International Sustainability Standards Board (ISSB). GRI offers universal, thematic, and sectoral standards that provide a comprehensive approach to disclosing information about the impacts of an enterprise on the economy, society, and the environment. The ESRS standards, which have become mandatory for large companies and enterprises whose shares are listed on EU stock exchanges, aim at harmonizing sustainability reporting within the framework of the European Green Deal. ISSB standards, which include recommendations from SASB, TCFD, and CDSB, ensure the disclosure of financially significant information for investors. The analysis showed that all three systems of standards are largely aligned with each other, which facilitates the process of transition between them for enterprises. The use of GRI standards in Ukraine can serve as a basis for further transition to ESRS and ISSB standards in the event of Ukraineʼs accession to the EU. The article emphasizes the importance of developing methodological recommendations for the implementation of GRI for Ukrainian enterprises. The conclusions of the study indicate the necessity of actively implementing international sustainability reporting standards in Ukraine to enhance transparency, stakeholder trust, and strategic enterprise management.
Databáze: Directory of Open Access Journals
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