DISCLOSURE OF ESG-FACTORS IN THE INTEGRATED REPORTING OF OIL PRODUCING ORGANIZATIONS AS A BASIS FOR MAKING INVESTMENT DECISIONS
E. S. Derevyankina1, D. G. Yankovskaya2
Kazan (Volga region) Federal University, Kazan, Russia
1e-mail: elena.derevyankina97@gmail.com
2e-mail: dina.yankovskaya@yandex.ru
Abstract. Today organizations of the oil-producing complex are not limited to financial reporting forms that are mandatory for submission by national and international standards, but also compile reports on sustainable development, corporate social responsibility, environmental reporting, collectively referred to as integrated reporting. The increased attention of interested users and, mainly, investors, to environmental and social problems determine the importance and importance of the formation of integrated reporting by companies, disclosing information on both financial and non-financial indicators. In modern conditions, when the problem of climate change becomes more acute, the COVID-19 pandemic continues, the fight against corruption is underway, companies will apply the practice of disclosing ESG investment factors in reporting. Accordingly, in order to attract investors, Russian firms need to strive to meet the ESG criteria. Key and potential investors need objective, timely, complete and reliable information to make decisions about investing resources in an enterprise. The disclosure of these components in the reporting is the basis for meeting the information needs of a wide range of users and mainly plays an important role in making investment decisions. The information presented in the integrated reporting is primarily interesting and useful to investors — individuals and legal entities who make or plan to invest their capital in the company’s securities in order to obtain economic benefits and (or) exercise control, since the completeness and transparency of information disclosure in the integrated reporting reflects the investment attractiveness of the company and future benefits. The purpose of the study is to assess the degree of disclosure of information necessary for investors in the integrated reporting of large Russian organizations of the oil production complex. The research method is a quantitative and qualitative rating assessment of the specific weight of ESG factors in the integrated reporting of oil companies. As a result of the study, key ESG factors have been identified, which are currently insufficiently disclosed in non-financial statements of companies. The results of the study can be useful to companies when making decisions about the disclosure of ESG factors in integrated reporting.
Key words: integrated reporting, International Integrated Reporting Standard, ESG-factors, investment, non-financial reporting.
Acknowledgements. The work is performed according to the Russian Government Program of Competitive Growth of Kazan Federal University.
Cite as: Derevyankina, E. S., Yankovskaya, D. G. (2022) [Disclosure of ESG-factors in the integrated reporting of oil producing organizations as a basis for making investment decisions]. Intellekt. Innovatsii. Investitsii [Intellect. Innovations. Investments]. Vol. 2, pp. 44–56, https://doi.org/10.25198/2077-7175-2022-2-44.
