Accounting Transformation for ESG Reporting in The Sustainability Agenda

Odintsova, Tatyana

doi:10.54647/economics790433

Cited by 2 publications

(2 citation statements)

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“…The article is aimed at providing a complex outlook on the information and control practices in the sustainability agenda and exploring specific ways to transform them, foremost accounting, and ESG reporting, to create a transparent and active information environment for sustainability. This paper continues previous studies, where the author has already examined problems of development accounting and reporting methodology regarding sustainability in ongoing medium turbulence (e.g., Odintsova, 2023Odintsova, , 2024.…”

Section: Introductionsupporting

confidence: 79%

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Updating the Informational and Control Practices in the Sustainability Agenda

Odintsova

2024

Economics and Culture

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Research purpose. The sustainability concept embraces a wide scope of linked practices: green thinking, sustainability informational and management assurance, ESG reporting and scoring, responsible and impact investment, stability measurements, and others. Significantly expanding beneficiary's and stakeholders' circle needs information to build and implement a policy providing ESG values creation and meeting their requirements in relevant sustainable agenda. This is why it is important to create a transparent information landscape and to shape new highlights in management and decision-making. The article is aimed at exploring specific ways to transform information and management practices, primarily accounting, ESG-reporting, analysis, and assurance to create a transparent information environment for sustainability. Design / Methodology / Approach. The study is designed as a qualitative analysis of existing information and related practices to identify gaps in the information needed by stakeholders for decision-making with that practically generated in the current environmental momentum. It involves summarising, categorizing, and interpreting open access sources data, such as unidirectional studies, non-financial reporting and ESG-rankings databases, program documents, frameworks and standards for sustainability and "responsible" reporting, professional audit analytics, and others. Logical and comparative analysis was used for data processing. The study’s theoretical framework is based on accounting theories, particularly the Interpretative paradigm. Findings. The possibilities were assessed following proposed approaches to upgrade the up-to-date system of informational-verifying appraisal practices by the requirements of a proper ESG environment. A holistic system layout was suggested, including information and control practices employed to provide sustainability. The main part of the recommendations refers to accounting and reporting for sustainability. New accounting ESG objects to display in this system were identified. It developed an integrated balance model of total capitals and their sources engaged and ESG -value-creating, taking for the basis traditional balance theory. Given the diversity of corporate non-financial reporting, classification characteristics for ESG reporting were suggested, and two key models of ESG reporting were defined. Recommendations were made in the field of design and methodology for information support of sustainability. Originality / Value / Practical implications. The article is the author's vision of the problems and ways of advancing traditional information practices in the context of global sustainability management requests. Recommendations for the holistic system of sustainability governance, informational support creation, transformation of accounting, ESG-reporting, other linked practices, streamlining, and methodological development of information activities that can be used in the practical field and employed in programmatic, advisory, and regulatory documents that structure the information field of socio-economic life.

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Section: Introductionsupporting

confidence: 79%

“…Afterwards, reports could differ by common logic and the possibility of results generalization in one integrable output. This possibility is inherent to integrated reporting unlike other frameworks' ESG-reports with findings cannot be summarized into an overall result or common inference" (Odintsova, 2024).…”

Section: Discussionmentioning

confidence: 99%

Updating the Informational and Control Practices in the Sustainability Agenda

Odintsova

2024

Economics and Culture

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Esg Information Practices as a Driver of Value Creation

ODINTSOVA

2024

JEE

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Achieving sustainability goals is mainly driven by information practices that support decision-making. The study dwells on recommendations in the field of design and methodology for information support of sustainability. It was motivated by a diversity and low convergence of existing information practices; the objective is to define ways of their transformation for ESG value creation and sustainability governance. The article aims to give a holistic view of ESG information practices and suggest theoretical insight and practical ways to transform them, primarily accounting, and ESG-reporting, to create a transparent information environment for sustainability. The study is designed as a qualitative analysis with summarising, categorizing, and interpreting open access sources data, such as unidirectional studies, non-financial reporting and ESG-rankings databases, program documents, frameworks and standards for responsible reporting, professional audit analytics, and others. Thematical, logical, and comparative analysis was mostly used for data processing. The study’s theoretical framework is based on social science theories, particularly the Interpretative paradigm. There were assessed quality of the current information field and proposed ways to upgrade an up-to-date system of informational practices by the requirements of a transparent ESG environment for the value creation. New approaches to ESG accounting were suggested, and an integrated balance model of total capitals engaged in ESG value creation was developed. Analysis of a corporate organizational reporting variety allows us to define two key models for better understanding and further convergence. Recommendations for the transformation of accounting, nonfinancial reporting, streamlining, and methodological development of related practices can be used in programmatic, advisory, and regulatory documents that structure the information field of sustainable development.

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Accounting Transformation for ESG Reporting in The Sustainability Agenda

Cited by 2 publications

References 5 publications

Updating the Informational and Control Practices in the Sustainability Agenda

Updating the Informational and Control Practices in the Sustainability Agenda

Esg Information Practices as a Driver of Value Creation

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