Development of Sustainability Reporting in Russia from the Experience of Implementing IFRS

Building on the historical experience of IFRS implementation in Russia, the article identifies key factors that have led to the emerging requirement for mandatory sustainability reporting. The analysis of the IFRS Foundation’s activities in developing sustainability disclosure standards is complemented by an examination of the unique economic and institutional conditions that shaped the adoption of IFRS in Russia and continue to influence current sustainability reporting practices. By reinterpreting major historical transformations in Russian accounting and structuring them chronologically, the authors provide a systemic view of the country’s financial reporting evolution. This comparison between the adoption of IFRS and the development of sustainability reporting enables a comprehensive historical assessment of how international practices can inform the advancement of Russia’s sustainability disclosure framework.