Organization and Standardization of Sustainability Reporting
The objective of the studyis to highlightthe content, purposes, standards and applications of sustainability reporting, to present a comparative analysisof the sustainability reporting framework from the point of view of internal and external users, to analyze government regulations and best practices of development and presentation of sustainability reporting.Main components of sustainability, definitions of sustainability, content of sustainability reporting, the International Reporting Framework, the reporting content under Global Reporting Initiative (GRI), numbers of companies preparing report by GRI are illustrated. One of the most important tasks of this article is to clarify the position of the Ukrainian business entities with respect to sustainability reporting and outline the ways to improve it by use of world’s best practices.A review of sustainability reporting practices at Ukrainian companies is made. It shows that Ukrainian enterprises developing and presenting sustainability reporting based on GRI framework can be divided into groups: large multinational companies with divisions in Ukraine (Coca-Cola, Deloitte, EY, KPMG, British American Tobacco, Nestle, etc.); Ukrainian nature companies (Arcelor, VEON, Energoatom (first state company in Ukraine adopted GRI) companies of SKM group: DTEK, Ukrtelecom, UMG, etc.). The numbers of Ukrainian companies who develop, present and disclose information on sustainability remain to be low due to economic, geo-politic, socio-cultural factors. Recommendations on further development of sustainability reporting in Ukraine are given.
2. GRI, CSR Europe, 2017, Member State Implementation of Directive 2014/95/EU. Retrieved fromhttps://www.globalreporting.org/resourcelibrary/nfrpublication%20online_version.pdf
3. The International
4. A Directors’ Guide to Integrated Reporting, Deloitte, 2015. Retrieved fromhttps://www2.deloitte.com/content/dam/Deloitte/na/Documents/audit/na_za_Directors_Guide_on_Integrated_Reporting.pdf
5. CDP, CDSB, GRI, IASB, IIRC, ISO and SASB (2016). Statement of Common Principles of Materiality of the Corporate Reporting Dialogue. Retrieved fromhttp://corporatereportingdialogue.com/wp-content/uploads/2016/03/Statement-of-Common-Principles-of-Materiality.pdf
6. GRI, 2017, Carrots and Sticks: Sustainability Reporting Policies Worldwide. Retrieved fromhttps://www.globalreporting.org/resourcelibrary/Carrots-and-Sticks.pdf
7. Mapping the sustainability reporting landscape: Lost in the right direction, ACCA, 2016. Retrieved fromhttps://www.cdsb.net/harmonization/593/mapping-sustainability-reporting-landscape-lost-right-direction
8. Sustainability 101: Trends, drivers, and why it’s important / Engineering and Construction Conference, Deloitte, 2017. Retrieved fromhttps://www2.deloitte.com/content/dam/Deloitte/us/Documents/Real%20Estate/us-engineering-construction-sustainability-101.pdf
9. Sustainability reports: Coca-Cola, Deloitte, EY Arcelor, DTEK, etc.
10. The new International Integrated Reporting Framework: A review guide for Audit Committee members, Deloitte, 2015. Retrieved fromhttps://www2.deloitte.com/nz/en/pages/risk/articles/new-international-integrated-reporting-framework.html
11. Value of sustainability reporting: A study by EY and Boston College Center for Corporate Citizenship EY, 2016. Retrieved fromhttps://www.ey.com/us/en/services/specialty-services/climate-change-and-sustainability-services/value-of-sustainability-reporting
12. Dhaliwal D., Li O. Z., Tsang A. H., Yang Y. G. (2015). Voluntary non-financial disclosure and the cost of equity capital: The case of corporate social responsibility reporting (Working Paper University of Arizona). Tucson: University of Arizona. Retrieved June 4, 2015.Retrieved from http:// papers.ssrn.com/sol3/papers.cfm?abstract _id=1343453
13. Dorosh N. I. (2016). The financial-environmental audit: the nature and methods. Retrieved from // http://www.agrosvit.info/pdf/22_2016/3.pdf
14. Filipova-Slancheva A. (2015). Non-financial Reporting in Bulgaria – Status and Challenges. Retrieved fromhttps://www.researchgate.net/publication/300249623_Non-financial_Reporting_in_Bulgaria_-_Status_and_Challenges
15. Gasperini A., Doni F. (2015). Sustainability Reporting and Value Relevance: Empirical Evidence from the Beverage Industry. In IFKAD 2015 International Forum on Knowledge Asset Dynamics. 10–12 June 2015. Bari Italy Culture, Innovation and Entrepreneurship: Connecting the Knowledge Dots. PROCEEDINGS (pp. 551–566). Matera: IFKAD. Retrieved fromhttps://boa.unimib.it/handle/10281/96568?mode=full.168
16. MakarenkoI., SirkovskaN.(2017). Transition to sustainability reporting: evidence from EU and Ukraine.Business Ethics and Leadership, vol. 1, issue 1, 16. Retrieved fromhttps://essuir.sumdu.edu.ua/bitstream/123456789/61541/1/Makarenko_Sirkovska.pdf
17. Lament M. (2015). Trends in Corporate Social Responsibility (CSR) reporting. Journal of Economic Practices and Theories, 5(4), 22–25.
18. Parkhomenko V. (2014), Yevrokonverhentsiyabukhhalterskohoobliku [Euroconvergence of accounting].Bukhhalterskyyoblikiaudit – Accounting and audit, 8, 3–4 [in Ukrainian].
19. Petryk O. A. (2011). Problemyadaptatsiizakonodavstva u sferiaudytu do polozhen 43 DyrektyvyYeS ta Zelenoiknyhy “Politykaaudytu: urokykryzy” [The problem of adaptations the legislation to audit provi-sions CHZ EU Directive and the Green Paper “Audit Policy: Lessons from the crisis”]. VisnykLvivskoiKomertsiinoiAkademii – Bulletin of Lviv Commercial Academy, 265–268 [in Ukrainian].
20. Szabó D. G., Sørensen K. E. (2015). New EU Directive on the Disclosure of Non-Financial Information (CSR), Nordic & European Company Law Working Paper No. 15-01, 15 May 2015. Retrieved fromhttps://papers.ssrn.com/sol3/papers.cfm?abstract_id=2606557
21. Szabó D. G., Sørensen K. E. (2016). Pursuing CSR Policy in Groups of Undertakings – Insights from the Practices of Danish Groups, Nordic & European Company Law Working Paper No. 16-06, 17 Nov 2016.Retrieved fromhttps://papers.ssrn.com/sol3/papers.cfm?abstract_id=2871030
22. Zubilevych S. (2014). OblikovaDyrektyvaYeS, yiyivplyvnaskladizmistzvitivyevropeyskykhkom-paniy ta perspektyvydlyaUkrayiny [EU accounting directive and its impact on the structure and content of the reports of European companies and the prospects for Ukraine], Bukhhalterskyyobliki audit – Accounting and audit, 7, 3–15 [in Ukrainian].
Abstract views: 273 PDF Downloads: 124