{"id":661500,"date":"2025-08-04T15:00:38","date_gmt":"2025-08-04T12:00:38","guid":{"rendered":"https:\/\/eba.com.ua\/?p=661500"},"modified":"2025-08-04T15:08:39","modified_gmt":"2025-08-04T12:08:39","slug":"bdo-v-ukrayini-suchasnyj-landshaft-regulyuvannya-zvitnosti-pro-stalyj-rozvytok-esg-u-sviti","status":"publish","type":"post","link":"https:\/\/eba.com.ua\/en\/bdo-v-ukrayini-suchasnyj-landshaft-regulyuvannya-zvitnosti-pro-stalyj-rozvytok-esg-u-sviti\/","title":{"rendered":"[:ua]BDO \u0432 \u0423\u043a\u0440\u0430\u0457\u043d\u0456: \u0421\u0443\u0447\u0430\u0441\u043d\u0438\u0439 \u043b\u0430\u043d\u0434\u0448\u0430\u0444\u0442 \u0440\u0435\u0433\u0443\u043b\u044e\u0432\u0430\u043d\u043d\u044f \u0437\u0432\u0456\u0442\u043d\u043e\u0441\u0442\u0456 \u043f\u0440\u043e \u0441\u0442\u0430\u043b\u0438\u0439 \u0440\u043e\u0437\u0432\u0438\u0442\u043e\u043a (ESG) \u0443 \u0441\u0432\u0456\u0442\u0456[:en]BDO in Ukraine: Understanding the Global ESG Reporting Framework Today[:]"},"content":{"rendered":"

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Over the past year, ESG reporting<\/a> has become a much more prominent topic of discussion. Previously, it was mostly a voluntary practice adopted by large corporations. Starting in 2024, ESG reporting becomes mandatory, as the European Union\u2019s new non-financial disclosure standards come into effect under the Corporate Sustainability Reporting Directive (CSRD).<\/p>\n

This shift reflects broader changes in Western society, where growing numbers of people are becoming more engaged with environmental issues and our shared responsibility to future generations. Many investors now consider sustainability alongside purely financial prospects. They\u2019re unwilling to invest in anything that could harm their lives or the environment they live in. It\u2019s a matter of reputation \u2014 and, more broadly, a reflection of deeper societal shifts: there\u2019s growing attention to environmental protection, ethical business practices, and the long-term impact on future generations.\u00a0\u00a0<\/p>\n

This article explores the United Nations Sustainable Development Goals (SDGs), which are often linked to sustainability reporting, and provides a brief overview of the most widely used sustainability reporting standards.\u00a0<\/p>\n

UN sustainable development goals in corporate sustainability planning<\/strong><\/h4>\n

The United Nations Sustainable Development Goals (SDGs), launched in 2015, set expectations around key global challenges for society and all stakeholders \u2014 including investors. For the first time, all countries agreed on a shared sustainable development agenda that spans three broad dimensions \u2014 economic, social, and environmental. It consists of 17 goals and 169 targets to be achieved by 2030 (see Figure 1).\u00a0<\/p>\n

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Figure 1. UN Sustainable Development Goals (the Global Goals or SDGs)<\/p>\n

From an investment perspective, the role of the financial system in advancing the Global Goals goes beyond simply attracting new capital. It requires investors to reallocate existing capital and to act as responsible administrator of the companies they invest in.\u00a0<\/p>\n

The SDGs help address global challenges such as climate change, inequality, and poverty. They serve as a guiding framework for governments, businesses, and civil society in building a sustainable future. Many international companies and organizations incorporate these goals into their development strategies. The UN Global Compact is a special initiative of the UN Secretary-General, aimed at encouraging companies to align their operations and strategies with the Sustainable Development Goals (SDGs<\/a>) and the Ten Principles<\/a> in the areas of human rights, labour, environment, and anti-corruption. The organization has 24,000 participants across 167 countries. The Ukrainian network includes 149 participants. BDO in Ukraine has also joined the UN Global Compact<\/a>, committing to follow its Ten Principles in the areas of human rights, labour, environmental protection, and anti-corruption. Submitting a Communication on Progress (CoP) report is an annual mandatory requirement for all companies participating in the UN Global Compact. Companies often align their SDG with recognized sustainability reporting standards. However, it\u2019s important to note that SDG disclosure guidelines \u2014 unlike frameworks such as GRI or SASB \u2014 do not constitute a formal set of sustainability standards.\u202fMost of the G250 companies have already integrated the SDGs into their corporate sustainability reporting.\u00a0<\/p>\n

Understanding and comparing sustainability reporting standards<\/strong><\/h4>\n

The practice of sustainability reporting dates back several decades. A 2022 study showed that companies tended to favor the GRI Standards, U.S. Securities and Exchange Commission (SEC) requirements, and SASB Standards when preparing their sustainability reports. At the time, there were around 400 different sustainability-related frameworks and standards globally, so most companies used multiple frameworks simultaneously when preparing their reports. The choice between different reporting standards reflected the lack of a unified system, which made comparability extremely challenging. This situation changed rapidly with the development of the International Sustainability Standards (IFRS S1 and S2) and the European Sustainability Reporting Standards (ESRS).\u00a0<\/p>\n

Below is a comparative overview of ESRS, IFRS S, and GRI frameworks\u00a0<\/p>\n\n\n\n\n\n\n\n\n
\n

Standards<\/strong><\/p>\n<\/td>\n

\n

ESRS<\/strong>\u00a0<\/p>\n<\/td>\n

\n

IFRS S<\/strong>\u00a0<\/p>\n<\/td>\n

\n

GRI<\/strong>\u00a0<\/p>\n

 <\/p>\n<\/td>\n<\/tr>\n

\n

Main goal<\/strong><\/p>\n<\/td>\n

\n

Mandatory reporting for companies in the EU (CSRD)\u00a0<\/p>\n<\/td>\n

\n

Global financial reporting for investors\u00a0<\/p>\n<\/td>\n

\n

Voluntary reporting on business impact on sustainable development (wide range of stakeholders)\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

Concept of materiality<\/strong>\u00a0<\/p>\n<\/td>\n

\n

Double Materiality<\/p>\n

 <\/p>\n<\/td>\n

\n

Financial Materiality\u00a0<\/p>\n

 <\/p>\n<\/td>\n

\n

Impact Materiality\u00a0<\/p>\n

 <\/p>\n<\/td>\n<\/tr>\n

\n

ESG coverage<\/strong><\/p>\n<\/td>\n

\n

E (environment), S (society), G (governance)\u00a0<\/p>\n<\/td>\n

\n

Focused on risks and opportunities for the company\u00a0<\/p>\n<\/td>\n

\n

Overall consistency (focused on the company’s impact on society and the environment)\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

Report submission details<\/strong><\/p>\n<\/td>\n

\n

Included in the management report<\/p>\n<\/td>\n

\n

As part of the annual financial statements, in particular, for example, notes to the financial statements prepared in accordance with IFRS<\/p>\n<\/td>\n

\n

Separate report\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

Mandatory provision of assurance<\/strong><\/p>\n<\/td>\n

\n

Required<\/p>\n<\/td>\n

\n

There is no requirement for a mandatory assurance (audit) but the standards are designed to enable companies to be prepared for it<\/p>\n<\/td>\n

\n

Not required<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

The European Sustainability Reporting Standards (ESRS)<\/strong> are a new set of non-financial reporting standards developed at the European Union level to ensure consistent and harmonized disclosure of sustainability information by companies. They are mandatory for large companies that fall under the scope of the Corporate Sustainability Reporting Directive (CSRD), which has replaced the Non-Financial Reporting Directive (NFRD). The European Financial Reporting Advisory Group (EFRAG) is responsible for developing the ESRS. The ESRS define disclosure requirements related to environmental, social, and governance (ESG) information, including metrics on a company\u2019s impact on the environment and society, as well as sustainability-related risks and opportunities.\u00a0<\/p>\n

ESRS structure:\u00a0<\/strong><\/p>\n