№ 3/2022

Fìnansi Ukr. 2022 (3): 8–21https://doi.org/10.33763/finukr2022.03.008

INTERNATIONAL COOPERATION

IEFYMENKO Tetiana ¹, VOROBEI Svitlana ², LOVINSKA Ljudmyla ³

¹SESE “Academy of Financial Management”
OrcID ID : https://orcid.org/0000-0002-9163-3959
²The Ministry of Finance of Ukraine
³Kyiv National Economic University named after Vadym Hetman
OrcID ID : https://orcid.org/0000-0001-5427-7185

Global guidelines for reporting on sustainability of enterprises in transition countries: martial law and reconstruction in Ukraine

Introduction. The most important task of the sovereign state of Ukraine nowadays is the victory in the war with the Russian aggressor, as well as ensuring sustainable innovation development in close cooperation with the international community.
Problem Statement. In countries with economies in transition in the preparation of non-financial reporting we can notice the following : lack of institutional levers of impact and motivation for the disclosure of environmental, social and other indicators; lack of standard approaches to the content of non-financial reporting and procedures for its administration, etc
Purpose. The aim of the study is: to substantiate the improvement to Ukraine’s public policy in Ukraine on non-financial reporting on sustainable development; to study contradictions of the new reality and directions to overcome them for the countries with transition economies while preparing non-financial reporting and applying indicators of sustainable development; to develop proposals on the content of such reporting in emergency situations, in particular during hostilities, as well as post-war reconstruction.
Materials and methods. The following methods: institutional, systemic, empirical, structural and functional and others have been applied while using UNCTAD guidelines and factual data.,
Results. The authors suggest ways to overcome these obstacles and to supplement the “Guidance on core indicators for entity reporting on contribution to the implementation of SDGs” (GCI) with a block of indicators on crisis management trends in conditions of uncertainty and post-war overcoming of the effects of destabilization.
Conclusions. The martial law in the country, the consequences of hostilities have a profound impact on the activities of companies and should be shown in the reports. On the basis of regulatory initiatives of the European Union on non-financial reporting in the electronic format in Ukraine it is necessary: to regulate the Taxonomy of non-financial reporting (EU Regulation 2020/852); to show in the management report the disclosure of basic performance indicators of enterprises in various fields (economic, environmental, social, institutional); to implement the concept of sustainable development in the national non-financial reporting infrastructure.

Keywords:Intergovernmental Working Group of Experts on International Standards of Accounting and Reporting, non-fi nancial reporting, uncertainty, crisis management.

JEL: М15, М16, М41

Iefymenko T. . Global guidelines for reporting on sustainability of enterprises in transition countries: martial law and reconstruction in Ukraine / T. . Iefymenko, S. Vorobei, L. . Lovinska // Фінанси України. - 2022. - № 3. - C. 8-21.

Article original in Ukrainian (pp. 8 - 21)

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