Accounting for ESG-reporting in the sustainability agenda

Abstract

Importance: the recent trend in the corporate reporting development has been the construction of an indicators set that inform stakeholders about the prospects for business prospective and not only its economic performance, but also the impact of on the total social capital, nature and society. Progress of non-financial reporting that characterizes contribution in sustainable development and long-term ability to generate value is disadvantaged by the lack of a unified methodology, significant number of regulators, terminological and content heterogeneity, and indicators selectivity. Non-financial reporting content cannot be based on accounting data due to the specificity of its subject field. Purpose: to determine the opportunities and directions for the accounting development, changes in its subject field, objects and methodological core in the context of the ESG agenda to ensure an information base for a new generation of corporate sustainable development reporting. Research design: analysis of the regulatory framework of requirements for the corporate reporting and its non-financial component, assessment of the capabilities of the accounting system in such reporting information support, define accounting methodological problems and approaches to their solution. Results: аn expanded understanding of the accounting subject field in the ESG agenda, interpretation of methods, principles and objects for further development of accounting and corporate reporting theory and practice.