Sustainability reporting standard: A new vector of Russian regulatory practice

Subject. The article discusses draft standard of reporting on sustainable development, offered by the Ministry of Economic Development of the Russian Federation. Objectives. The focus is on the analysis of the key provisions of the standard and assessment of its role in increasing the information transparency and comparability of non-financial information of organizations. Methods. The study draws on general scientific methods, like detailed elaboration, generalization, analysis, synthesis, description. Results. The paper analyzes the key provisions of the draft sustainable development reporting standard prepared by the Ministry of Economic Development of the Russian Federation, considers the role of the standard in increasing information transparency and comparability of non-financial information of organizations, presents a comparative analysis of methodological approaches of the Russian standard and international standards for sustainability reporting. Conclusions. The study unveiled institutional features of the Russian standard caused by its integration into the national accounting and reporting system, as well as mechanisms of public and professional assurance. It also identified the key advantages of implementing the principles of the standard for Russian companies.