150-6 On approval of the Concept for the development of public non-financial reporting

Summary

The document sets the development stages of public non-financial reporting, uncovers its purpose and contents, and specifies the issues of control and quality assessment. The concept enforcement will consist of four stages. In 2017-2018 there will be undertaking awareness raising about the concept among expert community, Russian business and society in general, necessary regulatory and methodological basis will be provided, and tools for independent evaluation of organizations’ activities will be developed. The second stage (2019-2020) among other issues implies incorporation of government-owned corporations, government-owned enterprises and public companies into the list of organizations subject to publication of non-financial reporting. The third and the fourth stages will be devoted to the enlargement of the list of organizations subject to providing non-financial reports. Thus, starting from 2023, into the list of companies obliged to publish non-financial reporting there will be included 500 largest organizations, total revenue of which corresponds the requirements of leading Russian ratings.

Thumbnail image for The document sets the development stages of public non-financial reporting, uncovers its purpose and contents, and specifies the issues of control and quality assessment. The concept enforcement will consist of four stages. In 2017-2018 there will be undertaking awareness raising about the concept among expert community, Russian business and society in general, necessary regulatory and methodological basis will be provided, and tools for independent evaluation of organizations’ activities will be developed. The second stage (2019-2020) among other issues implies incorporation of government-owned corporations, government-owned enterprises and public companies into the list of organizations subject to publication of non-financial reporting. The third and the fourth stages will be devoted to the enlargement of the list of organizations subject to providing non-financial reports. Thus, starting from 2023, into the list of companies obliged to publish non-financial reporting there will be included 500 largest organizations, total revenue of which corresponds the requirements of leading Russian ratings.

Issuer

Russia

Year

2018

Region

Asia

Issuer (type)

Ministry of Economic Development and Trade (Government)

Policy Type

Disclosure

Geographical scope

National

Mandatory or voluntary

Voluntary

Global Reporting Initiative (GRI)

Voluntary Use

Main industries targeted

Finance & Insurance
Education
Information
Arts, Entertainment, & Recreation

Restrictiveness

Moderate

Sustainable Development Goals (SDGs)

SDG 1: No Poverty
SDG 4: Quality Education
SDG 8: Decent Work and Economic Growth
SDG 9: Industry, Innovation, and Infrastructure
SDG 10: Reduced Inequality
SDG 11: Sustainable Cities and Communities
SDG 12: Responsible Consumption and Production
SDG 15: Life on Land
SDG 16: Peace, Justice, and Strong Institutions
SDG 17: Partnerships for the Goals