KOMPARATIVNA ANALIZA STANDARDA GLOBALNE INICIJATIVE ZA IZVEŠTAVANJE I EVROPSKIH STANDARDA IZVEŠTAVANJA O ODRŽIVOSTI

Business operations in modern conditions and today’s business environment are characterized by a highly complex, interactive, and dynamic setting, which leads to new types of business transactions. Given that stakeholders, in addition to financial information, increasingly demand information related to social, environmental, and ethical aspects of business, the changed business conditions have generated the need for non-financial reporting that goes beyond the framework of traditional financial reporting. Since non-financial information requires an appropriate form of harmonization, the need has arisen for the development of reporting standards that would ensure the comparability of certain non-financial reports through their application. This paper analyzes the Global Reporting Initiative Standards, as well as current trends in non-financial reporting regulation in Europe, with a special focus on the innovations introduced by the Corporate Sustainability Reporting Directive and the European Sustainability Reporting Standards. Accordingly, the subject of this paper is a comparative analysis of the Global Reporting Initiative Standards and the European Sustainability Reporting Standards. The main objective of the paper is to assess the importance of their application, the essential definition, and the key characteristics of the analyzed standards, as well as to point out the similarities and differences between them.