Non-financial reporting as an essential tool ensuring sustainable development and food security

Abstract

The successful solution of food security problems largely depends on the joint efforts of participants in economic relations at the level of states, regions, and business entities. The results of food security policy management and the parameters of its further development should be reflected in non-financial reporting, which enterprises currently form on the basis of regulations of a recommendatory nature of various professional and public organizations. The generalization of the Russian and foreign practice of compiling non-financial reporting allowed us to substantiate the directions for improving the information support of enterprises in the field of environmental protection and the social sphere. The lack of uniform international standards for non-financial reporting is one of the main problems preventing the creation of comparable assessment information on the contribution of enterprises and States to solving environmental and social problems. A review of the survey results of various respondents regarding the importance of non-financial reporting and the convenience of its use by investors, regulatory agencies and other stakeholders showed the need to intensify work on the unification of ESG factor disclosure formats. The directions of development of the regulatory framework for non-financial reporting within the framework of the currently being developed industry-specific international standards for corporate non-financial reporting are proposed.