Disclosure of Non-financial Information in Corporate Reporting as a Way to Company’s Sustainable Development under the Implementation of ESG Technologies

In the global economic space, the ESG concept (environment, social, governance) is strengthening its position every day, going through the formative and development stages, and by being implemented into the companies' integrated reporting, influencing the business performance assessment system. In an effort to improve their ratings and to maintain an outstanding reputation, most companies are guided in their operations by ESG concept, the indicators of which are reflected in integrated reporting. The credit record, business reliability ratings, and disclosure of reporting that includes ESG indicators are significant information to ensure company's sustainability. In foreign system, the formation of ESG rating has become a common practice, but in the Russian Federation, ESG indicators are considered in corporate reporting preparation and disclosure only by leading companies and are not widely used. Thus, the objective of this research is to study the composition of ESG indicators included in non-financial reporting and their impact on establishing a trustful communication between managers and external investors and improving the reliability of integrated reporting. Achieving the objective involves the assumption that the company's management needs to fulfill a number of requirements to create an appropriate environment for non-financial reporting. In the course of the research conducted with the help of online surveys which allowed to collect data from a large number of respondents, it was found that the company's reporting prepared using ESG technologies can provide businesses with the necessary measurable profitability with minimum risk, and the development of the corporate reporting that reliably and accessibly reflects the key aspects and results of the economic entities' activities for stakeholders will enable the implementation of sustainable development strategies. As a result, it was concluded that companies that prepare non-financial reporting using ESG-strategy comply with corporate professional ethics, minimize legal and environmental risks, avoid other negative processes that damage business reputation, and, as a consequence, strengthen their sustainability and increase shareholder value of the business. The importance and relevance of the research are determined by the fact that the authors have identified the possible scenarios when companies' management decides to form financial statements voluntarily or compulsorily. The system of indicators developed by the authors will be of interest to top management in the process of creating a strategy for companies’ sustainable development.