Development of the Methodology for Analysing the Social Activity of Companies Based on the Sustainability Report

Modern business conditions in the period of globalisation and instability of the external environment are characterised by the need to pay special attention to the issues of corporate social responsibility and social activity of companies. In times of crisis, it is companies, along with the state, that should act as a pillar for society. The aim of the research is to analyse the social activity of organisations and assess the level of their involvement in the sustainable development strategy on the example of companies in the Russian oil and gas sector. The study pays special attention to the issues of regulatory and legal support for the preparation of non-financial reporting. The analysis led to the determination that the extent of companies’ engagement in the execution of the sustainable social development strategy is markedly deficient. Currently, the disclosure of a company’s social investments in non-financial reporting is undertaken on a voluntary basis. As a consequence, variances exist in the formats employed, the frequency of reporting, and the alignment with the corporate interests of the organisation. This approach hinders the establishment of a dependable evaluation and comparison of data, as well as impedes the thorough analysis of the influence exerted by companies on social development. The novelty of this study centres around conducting a thorough evaluation of social activity and corporate engagement in the execution of sustainable development strategies. Moreover, the authors have contributed by identifying a set of recommended indicators for mandatory disclosure in non-financial reporting.