Received:
2023-09-15 | Accepted:
2023-11-22 | Published:
2023-12-30
Title
Sustainability reporting issues
Abstract
For a long time, investors and other interested parties have not been satisfied with the only financial achievements of companies - profitability, dividend payments and other financial indicators. Today, investors are interested in the long-term sustainability of companies -social and environmental responsibility, which becomes the basis for making investment decisions. With the efforts of the governments and financial institutions of the world's leading countries, significant work has been done on defining and evaluating ESG sustainability principles and creating unified global international standards. As of today, the International Sustainable Standards Board (ISSB) has developed draft standards, which are still under review, requiring analysis, implementation and taxonomy with IFRS standards - presentation and disclosure requirements. Familiarization with the ESG principles of sustainability and the IFRS S1 and S2 sustainability reporting projects developed by ISSB; understanding the importance of prospective scenarios for the information on climate change risks (physical and transition); and studying the issues of consolidation with IFRS standards. Guiding recommendation materials of ISSB, international audit companies ("Big Four"), scientific articles, methods of systematization and comparative analysis. The concepts of sustainable development are familiarized; ISSB projects and the "Big Four" methodological materials are analyzed. Furthermore, corporations will be required to submit sustainability reports commencing in 2024.
Keywords
ESG-principles, non-financial risks, ISSB projects, physical and transition risks of climate change
JEL classifications
M40
, M41
URI
http://jssidoi.org/jesi/article/1141
DOI
Pages
282-289
Funding
This is an open access issue and all published articles are licensed under a
Creative Commons Attribution 4.0 International License
Journal title
Entrepreneurship and Sustainability Issues
Volume
11
Number
2
Issue date
December 2023
Issue DOI
ISSN
ISSN 2345-0282 (online)
Publisher
VšĮ Entrepreneurship and Sustainability Center, Vilnius, Lithuania
Cited
Article views & downloads
HTML views: 1115 | PDF downloads: 570
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