Financial sector news

At the 5th International Sustainability Forum, one of the central topics was the quality of sustainability reporting and the readiness of Ukrainian businesses to transition to European ESG standards.

There are over 11,000 issuers registered in Ukraine, of which 3,500–4,000 are actually active, but only about two dozen companies have submitted full sustainability reports. Most documents remain formal and do not contain a systematic analysis of environmental, social, and governance (ESG) indicators, according to the National Securities and Stock Market Commission (NSSMC).

“Sustainable development is not just a regulatory requirement, it is an indicator of business maturity,” emphasized NSSMC member Yaroslav Shlyakhov.

He noted that the role of the regulator today is not only to set standards but also to create conditions that will help businesses transition to high-quality ESG reporting and assess their own maturity:

“The regulator not only sets requirements but also creates opportunities for companies to assess their level of maturity in terms of sustainable development, environmental and social risks, and gradually move towards European standards.”

The NSSMC is currently working on synchronizing state requirements for ESG reporting in order to avoid duplication of indicators and reduce the burden on businesses.

Key plans and initiatives include:

• developing a unified ESG taxonomy for the transition to measurable indicators;
  
• creating practical recommendations and guidelines for reporting;
  
• resuming the Skorcard project, a tool for industry assessment of companies' ESG maturity;
  active educational work with businesses to foster an understanding of ESG as part of a long-term development strategy.
  In conclusion, Yaroslav Shlyakhov emphasized:

“To gain access to resources for reconstruction, we need to change our approach and mindset: ESG is not only a matter of responsibility, but also of competitiveness and access to investment.”