Methodological approaches to assessing companies contribution to the implementation of SDGs and counteraction to COVID-19

Abstract

The methodological approaches to improving the non-financial reporting of Ukrainian enterprises in the context of implementing the provisions of the document issued by UNCTAD (GCI), in terms of the private sector's contribution to the COVID-19 are highlighted. The authors identified the lack of unified approach to the standardization of non-financial reporting and the harmonization of companies' core indicators with macro-indicators of SDGs' achievement in the relevant areas. The hypothesis of the study: the GCI as an effective tool to ensure comparability of information disclosed in non-financial statements between companies, industries, geographical areas, countries, can be used to quantify core indicators that should be disclosed by Ukrainian companies for providing the information suport for SDGs monitoring. The purpose of the study is to substantiate information support and assessment of business contribution to process of SDGs' monitoring and overcoming the effects of the COVID-19 pandemic, including indicator 12.6.1, by defining the limited list of universal indicators within the national legislation, GCI recommendations and initiatives aimed at disclosure of coronavirus disease's impact on the company's activities. The authors within the study proved that the application of core indicators suggested by the GCI would not only promote the level of data transparency on the impact of reporting entities, but also provide the opportunity to compare information between companies, industries, geographical areas, countries. Based on the results of the study and conducted analysis of international initiatives, the institutional basis for improving the preparation of non-financial reporting within the crisis caused by the COVID-19 pandemic was formulated. This allowed to substantiate the suggestion on inclusion of additional indicators in the management report in terms of disclosing information about the impact of the COVID-19 pandemic on the activities of enterprises and their contribution to combating the spread of the disease.

Sustainable Development Reporting in Emergency Situations

“…At the same time, they are incomplete from the point of view of qua li ty for assessing sus tainable development of com panies. That is why the implementation of the amendments made to the Principles of Corporate Governance of the OECD [63], where Part VI Stability and Resilience 2 is introduced, is gaining relevance in the national institutional environment. For companies and investors, it is recognized as an important motivational component aimed at managing  Members of the FSB (Financial Stability Board), as well as international organizations, various countries, professional communities, etc.…”

International experience in providing state assistance to enterprises under special circumstances

“…[5][6][7][8][9]); якість інформаційного забезпечення прийняття управлінських рішень за надзвичайних ситуацій (С. І. Воробей, Т. І. Єфименко, Л. Г. Ловінська та ін. [10][11][12]).…”

Fiscal issues of entities’ non-financial reporting

“…Проблемам підвищення якості даних нефінансової звітності та їх багатофункціональності присвячено дослідження українських та зарубіжних дослідників. Так, вітчизняними науковцями активно вивчаються питання створення методичного інструментарію розкриття інформації щодо впливу пандемії на діяльність підприємств [9]; оцінки практики нефінансового звітування компаній [4; 12]. Аналіз останніх публікацій іноземних дослідників, представлених в авторитетних міжнародних виданнях, показав, що їх основна спрямованість обумовлена необхідністю віднайдення інструментів оцінки якості нефінансової звітності компанії [1] та розроблення відповідних показників [23].…”