Subject. This article discusses the non-financial reporting of Russian companies, international and national standards and initiatives in the field of sustainable development. Objectives. The article aims to analyze the distinctive features of approaches to determining material topics in the formation of sustainability reporting, as well as identify the approach used by representatives of Russian companies in the formation of non-financial reporting at present. Methods. For the study, we used analysis and synthesis, comparison, and generalization. Results. Based on consideration of the evolution of approaches to determining materiality in the formation of sustainability reporting, the article substantiates the priority of the Double Materiality approach, which is gradually replacing the approach of determining the Materiality of Impacts, summarizes the steps to select material topics, and identifies the characteristic features of the formation of sustainability reports by Russian companies in terms of stakeholder engagement and identification of material topics. Conclusions and Relevance. In recent years, international and national standards and initiatives in the field of sustainable development contain recommendations on the application of the Double Materiality approach, which in turn implies not only the assessment of Impact Materiality, but the assessment of Financial Materiality as well. At the moment, Russian companies mainly apply the approach to determining material topics based on the assessment of the company's impact on the economy, environment and society, while the disclosure of information on the consideration of stakeholder opinions is formal. The findings suggest that most Russian companies are in the process of revising their approach to determining material topics, which implies a step-by-step review of this process engaging stakeholders. The results obtained can be used by experts in the field of sustainable development and representatives of companies when preparing recommendations for assessing materiality in the formation of non-financial reporting.
Keywords: stakeholders, materiality, sustainability reporting, non-financial reporting, material topics
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