Aspects of the social category of sustainability reporting

Abstract

Purpose: development of methodological approaches to the formation of information on the social component of the sustainable development of corporations for the adoption of sound economic decisions by interested parties. Discussion: the need to transform corporate reporting is due to the development of investor requirements for business accountability and the disclosure of a corporation’s strategy for the social well-being of stakeholders. As structural elements of reporting on sustainable development, along with key performance indicators, various other indicators that make up aspects and subcategories of reporting can be used. Results: the social category of a corporate sustainability report is most widely represented in the Global Reporting Initiative (GRI) [1]. It is advisable to prepare public information on aspects of sustainability reporting based on internal reporting formats that form the content of corporate accounting and reporting standards. To disclose information on reporting subcategories containing a significant number of aspects, internal reports prepared in the form of tables, graphs, and other visual forms are supplemented with textual explanations. It is advisable to aggregate information, which involves combining information from operational reports into current reports, and current reports into consolidated reports. To prepare text explanations for public reporting on sustainable development, internal analytical reports are used that interpret information from non-financial corporate reporting.