A Historical Overview of Non-Financial Reporting

This article provides a comprehensive overview of the evolution of non-financial reporting from its origins to current legislative requirements. The primary focus of the article is an analysis of the historical evolution of non-financial reporting, which forms the basis of current ESG reporting. The analysis is based on the identification of key events, initiatives, and documents from the mid-20th century to the present. The article systematically maps the transition from ethically motivated responsible investing to a comprehensive regulatory framework, which in the EU is primarily defined by the Corporate Sustainability Reporting Directive, European Sustainability Reporting Standards, and the Corporate Sustainability Due Diligence Directive. A particular focus is placed on the most recent legislative changes related to the Omnibus package. Focusing on the accuracy of legal interpretation, the continuity of time, and conclusions based on facts, the article provides a comprehensive overview of the subject matter. The findings indicate that the incorporation of ESG factors into investment decision-making processes can contribute to the enhancement of financial market stability and resilience, as well as the promotion of long-term sustainable development in the business environment.