Abstract
The article seeks to examine and diagnose the current practices of forming financial and non-financial reporting followed by Russian metallurgical companies with regards to their environmental liabilities. The authors applied quantitative and qualitative methods of information analysis, as well as a morphological approach to generalizing the research results. The research has shown varying degrees of openness of metallurgical companies, which allowed the authors to formulate prospects for further research in this area.
Highlights
The prospects of Russian metallurgical companies today are linked with their investment attractiveness, which, in turn, is conditioned by transparency in terms of disclosing the parameters of social responsibility, including corporate environmental obligations
Consider them as existing, and “a potential obligation to third parties arising from the operation of a law, contract, tort or business customs in the course of activities that have a negative impact on the environment and associated with special environmental risks, the implementation of which will inevitably lead to a decrease in economic resources, to the adoption of a new obligation or transfer to a third party” [1]
This definition reflects the dynamism and a certain hierarchy in social responsibility, which significantly expands the potential explanatory value of the information disclosed in the reporting
Summary
The prospects of Russian metallurgical companies today are linked with their investment attractiveness, which, in turn, is conditioned by transparency in terms of disclosing the parameters of social responsibility, including corporate environmental obligations. Consider them as existing, and “a potential obligation to third parties arising from the operation of a law, contract, tort or business customs in the course of activities that have a negative impact on the environment and (or) associated with special environmental risks, the implementation of which will inevitably lead to a decrease in economic resources, to the adoption of a new obligation or transfer to a third party” [1] This definition reflects the dynamism and a certain hierarchy in social responsibility, which significantly expands the potential explanatory value of the information disclosed in the reporting. The latter can serve as a criterion for the strategic nature of business, which is in line with contemporary methods of managing and evaluating sustainability
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