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Премия рунета 2017

DIALOGUE WITH BUSINESS ON NON-FINANCIAL REPORTING

When new industrial installations are being planned, the public makes extensive use of the Environmental Impact Assessment and Public Environmental Assessment procedures to minimize the negative impact on the environment. These mechanisms are also established as legislative requirements.

There are no equally good public environmental supervision mechanisms for the operating activities of companies. There aren't even any legislative requirements for the publication by companies of their key environmental impact parameters, such as emissions and solid and fluid waste production. 

One relatively new approach to public supervision is dialogue with businesses through public non-financial reporting. Public non-financial reports disclose information about the activities of a company in the context of social responsibility and sustainable development, reflecting interaction with stakeholders as well as the progress made by companies in, inter alia, economic, environmental, and social aspects of sustainable development viewed as a whole.

As part of the People for Nature project that has been implemented since 2019 with the support of the European Union, WWF Russia has been supporting the development of this mechanism and there are already some examples of public assessments of the public non-financial reports released by companies. Such public assessments of public non-financial reports are also important in the sense that they help improve the reliability of socio-economic information disclosed by companies in their annual reports. It is these indicators that form the basis for the annual rankings compiled by WWF Russia.