Government Approved Strategy for Introduction of Sustainable Development Reporting by Enterprises

On October 18, the Cabinet of Ministers of Ukraine adopted the Resolution “On the Approval of the Strategy for the Implementation of Sustainability Reporting by Enterprises.”

The Strategy outlines the objectives, goals, and primary tasks to ensure that Ukrainian enterprises develop and disclose sustainability information based on unified methodological principles adopted by the European Union member states. This is a crucial change as Ukraine moves toward obtaining EU candidate status.

The Strategy provides for the following goals:

• Implementing in Ukraine the preparation, submission, and publication of sustainability reports by enterprises based on the European Sustainability Reporting Standards (ESRS);
• Establishing procedures in Ukraine for the auditing of enterprise sustainability reports and an effective mechanism to ensure the quality of these audit services.

The implementation of the Strategy will contribute to:

• Ensuring that Ukrainian legislation on sustainability reporting aligns with the EU regulatory requirements in this sphere;
• Introducing the preparation, submission, and publication of sustainability reports by enterprises according to the ESRS;
• Providing users of sustainability reports with reliable and objective information necessary to assess the environmental and social aspects of enterprises and their impact on the natural environment;
• Creating equal conditions for Ukrainian enterprises to operate on international capital markets alongside the European Union businesses;
• Increasing investment in enterprises that prepare and publish sustainability reports.

The approval of the Strategy for the Implementation of Sustainability Reporting by Enterprises is a key step toward a more responsible and transparent approach to business in Ukraine.