Corporate Reporting on Sustainable Development in Ukraine: Analysis of the Current State of Legal Regulation and Prospects for Implementation

Abstract

This article focuses on studying the current legal regulations and prospects for implementing corporate reporting on sustainable development in Ukraine. It analyzes the implementation of European standards for corporate reporting on sustainable development. The article identifies the challenges and obstacles that arise when introducing corporate reporting into national business practice and legislation. Due to the lack of regulatory support for this area, there are few scientific publications devoted to the legal analysis of corporate reporting on sustainable development issues in Ukraine. Thus, this article is a particularly important contribution. The implementation of corporate sustainability reporting in Ukraine is closely related to legal practice and theory need to develop legislation that will create a legal basis for this type of reporting in Ukraine. Reporting entities will have reporting obligations, which in turn are associated with the issues of disclosure of information on activities and legal liability. Reporting on the sustainable development of enterprises will have a significant impact inter alia on labour, corporate and financial legislation. Moreover, it will influence information law and privacy legislation, as the data disclosed in a company’s sustainability report will reflect the impact of its activities on social, environmental and governance aspects. Thus, corporate reporting on sustainable development will have a broad impact, comprising both private and public relations, on their legal regulation, and therefore on both private and public law. This circumstance forms the need for scientific research on the declared topic. The purpose of the article is to study the current state of legal regulation of corporate reporting on sustainable development in Ukraine, identify shortcomings in the legal framework, and propose directions for improving the legislation on corporate reporting of enterprises on sustainable development in Ukraine.