KLJUČNE DETERMINANTE IZVEŠTAVANJA O ODRŽIVOSTI U REPUBLICI SRBIJI

Most countries around the world are continually taking steps toward greater corporate transparency regarding sustainability. Supporting this trend is the fact that numerous acts have recently been adopted, mandating an increasing number of companies to report on sustainability matters. Despite global trends, the reporting rate in the Republic of Serbia remains low, with a noticeable gap between the theory and practice of sustainability reporting. Therefore, this research aims to explore the determinants influencing sustainability reporting in the Republic of Serbia. The study was conducted through a survey of ESG experts (including specialists, consultants, directors, controllers, and managers). The research results indicate that the most significant factors influencing sustainability reporting are international standards and guidelines (normative factors), pressure from banks, customers, and suppliers (stakeholder pressure), support from top management in the ESG implementation process (attitude of top management), employees' readiness and skills to engage with ESG issues (qualifications of employees in finance and accounting), and the presence of women on governing bodies, particularly concerning the "S" component (structure of the board of directors/supervisory board).