REPORTING ON SUSTAINABLE DEVELOPMENT IN ENSURING CORPORATE SOCIAL RESPONSIBILITY OF DOMESTIC ENTERPRISES
Abstract
The article is devoted to the importance and significance of sustainability reporting for corporate social responsibility (CSR) at domestic enterprises. It analyzes how this reporting contributes to increasing the transparency and accountability of companies to society, shareholders, and other stakeholders. By integrating sustainable development principles into their business strategies, companies can better address economic, environmental, and social dimensions, thus promoting long-term sustainability and ethical practices. The research highlights the positive impacts of sustainability reporting, such as enhanced stakeholder trust and improved corporate reputation. However, the study also identifies significant weaknesses in the current approaches to sustainability reporting among domestic enterprises. These weaknesses include inconsistent reporting standards, lack of comprehensive data collection, and insufficient stakeholder engagement. Addressing these issues is crucial for maximizing the benefits of sustainability reporting and ensuring meaningful CSR practices. Based on the study, conclusions are drawn about the necessary steps to improve sustainability reporting. It is recommended to strengthen the legislative and regulatory framework to provide clear guidelines and standards for reporting. Additionally, there is a need to develop a robust reporting culture among Ukrainian businesses, encouraging them to adopt best practices and continuously improve their sustainability performance. By doing so, domestic enterprises can enhance their contribution to the sustainable development of the country's economy, ensuring long-term value creation for all stakeholders involved. The article underscores that achieving corporate social responsibility and sustainable development requires a concerted effort from businesses, regulators, and the broader community.
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