Sustainability Disclosure Regulation in the Czech Republic

The sustainability approach appears nowadays in various fields, including accounting. Increasing pressure from stakeholders puts emphasis on corporate sustainability reporting in the sense of all three ESG pillars—environmental, social, and governance. The need for a uniform and comparable reporting framework resulted in its regulation, so that companies can prepare a comprehensive report on the impact of their activities on people and the environment. The paper is focused on the assessment of sustainability information reporting of Czech large enterprises that were obliged to report information according to the transposed Non-Financial Reporting Directive in the Czech Accounting Act. This group of companies will have to report more detailed sustainability information according to the Corporate Sustainability Reporting Directive for the year 2024, and therefore it was examined using a content analysis whether the reports for the year 2021 already contained information according to the new requirements. The results show that in most cases companies already provided non-financial information for the year 2021 in terms of future requirements. The information related to the social and human rights matter was stated in the reports of the companies most in line with the factors mentioned in the CSRD. Within the environmental factors, information regarding the mitigation of climate change was reported the most, which is one of the main problems of the world today. Governance factors were presented the least of all three ESG pillars.