Risk-oriented approach as a sustainable business management tool

Unofficial AI-generated summary based on the public title and abstract. Not an official translation.

🔬研究者:This paper provides a case study of Ukraine's preparation for CSRD, useful for comparative studies on sustainability reporting adoption in emerging economies.

🏢実務担当者:Companies preparing for CSRD disclosure can learn from the identified gaps in non-financial reporting and the integration of risk management.

🏛政策担当者:Regulators in emerging economies can consider the proposed integration of risk management into sustainability reporting frameworks as they adopt CSRD or similar standards.

Introduction. Governments and non-governmental organizations of leading countries are actively introducing regulatory norms actively of the operational activities balance for entities using an integrated approach today sut as: environmental safety of business results, social protection of employees, compliance with and financial support for effective management. Indicated indicators (Environmental, Social, Governance, ESG) must be disclosed in special reporting of enterprises - the Sustainable Development Report. The introduction of sustainable development reporting and EU regulations by enterprises is of great importance for Ukraine, because this Report is an important step towards harmonizing Ukrainian legislation with EU law. Problem Statement. Starting in 2025, the requirements of Directive 2022/2464 of the European Parliament and the Council of 14 December 2022 on corporate sustainability reporting (Corporate Sustainability Reporting Directive - CSRD) will come into effect, requiring companies to disclose a large detailed information amount about both their sustainability performance and the corresponding strategic implications. Disclosure requirements are set by the European Sustainability Reporting Standards (ESRS). CSRD is a new challenge for Ukraine with its specific aspects that deserve a well-founded assessment and disclosure. The purpose of the study is to substantiate: alternatives for the methodology improving for preparing the Sustainable Development Report, taking into account a wide range needs of consumers, the international integration processes of the domestic economic market; problems and prospects for the risk-oriented management development as an integral element of managing sustainable business development (using the example of domestic securities issuers). Methods. The following general scientific and specific methods were used in the research process: dialectical, analysis and synthesis methods , induction and deduction, economic and statistical. Document analysis was used as a social research method, the justification of which is the research areas study from several points of view. Results. The functional risk-based management content can be interpreted as a managing concept of the probability and consequences of events that may negatively affect the financial condition, the enterprise' image as a whole, and its strategic mission. Conducted sociological studies of the Management Reports informativeness of domestic companies confirm that in the Sustainable Development Reports (the Management Report components) non-financial indicators are used to a limited extent, the potential losses and measures assessment taken to eliminate the negative consequences of potential sustainable development risks is limited. It is necessary to unify the development of non-financial indicators of enterprises by industry affiliation, economic and organizational characteristics of enterprises in order to increase the Reports informativeness. Conclusions. Among the conceptual conclusions of the study: the decision in order to identify risk should be economically justified, not have a negative impact on the financial and enterprise' economic results; risk management should be integrated into the management system as an enterprise's business strategy integral part; risk administration should be based on a sufficient amount of reliable accounting and reporting information (both financial and non-financial), analytically disclosed by transactions that form the basis for calculating potential losses; risk management processes are systematic and consistent.

• openaire https://doi.org/10.33763/finukr2025.08.086first seen 2026-05-05 19:08:53