SUSTAINABILITY ACCOUNTING STANDARDS

Abstract

This article identifies the benefits of corporate sustainability reporting and the link with sustainability accounting standards by analyzing the meaning of sustainability accounting, the recommendations of sustainability accounting standards and the requirements for the preparation of sustainability reporting. Analysis, summarization, and comparison of scientific literature were applied in this work. It was determined that sustainability accounting is the disclosure and assessment of non-financial indicators, risks and opportunities related to environmental protection and social responsibility according to ISSB international standards or ETAS and the Corporate Sustainability Disclosure Directive. Although there have been many attempts to develop different sustainability accounting standards, the current aim is to apply ISSB standards to ensure the comparability of information. Sustainability reporting is relevant today and promotes positive change, pollution reduction, transparency and responsible business practices and contributes to long-term business success. Additionally, sustainability reporting encourages investors to make informed decisions and direct their funds to socially responsible companies. In conclusion, sustainability reporting is an increasingly important part of corporate activity that helps create long-term corporate value, reduce risk, and meet the needs of interested information users.