Home  Journals  International Accounting  1(487) - 2022 January

Trends and innovations in reporting on the sustainable development of economic entities

Received: 25 October 2021

Received in revised form: 3 December 2021

Accepted: 16 December 2021

Available online: 17 January 2022

Subject Heading: INTERNATIONAL STANDARDS OF ACCOUNTING AND REPORTING

JEL Classification: M40, M41

Pages: 4–28

https://doi.org/10.24891/ia.25.1.4

Subject. This article discusses the development priorities and major innovations in the sustainability reporting standards of the Global Reporting Initiative (GRI).
Objectives. The article aims to reveal the essence of the most important changes made to the sustainability reporting standards in connection with their improvement, and assess the impact of innovations on the informative and analytical value of sustainability reporting.
Methods. The study relies upon analysis and synthesis, comparison, generalization, and abstraction.
Results. The article shows trends in the preparation of sustainability reporting, discloses the background for revising and expanding the list of sustainability reporting standards, and describes the essence of innovations introduced into the GRI Standards.
Conclusions and Relevance. The main innovations in the sustainability reporting standards are related to the revision of the GRI Universal Standards, updating the Topic Standards, and the development of Sector Standards. The application of updated and expanded standards for sustainability reporting will help improve the corporate practice of disclosing information on the economic, social and environmental performance of organizations. The results obtained can contribute to the further promotion of sustainability reporting, improving the practice of its preparation, and developing a methodology for comprehensive analysis of economic entities' sustainable growth.

Keywords: sustainable development, universal standards, topic standards, sector standards

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