CSRD implementation in the Ukrainian corporationsʼ practice

Abstract

The role of the European Union Corporate Sustainability Reporting Directive (CSRD) in ensuring transparency and promoting sustainable business development has been studied. An analysis of Euro­pean reporting practices is conducted, enabling an assessment of the prerequisites for adopting CSRD, its key provisions and requirements, as well as its impact on corporate reporting within EU countries. Particular attention is paid to the opportunities of adapting CSRD in Ukraine: potential challenges, opportunities are identified, and recommendations are developed for integrating sustainable develop­ment reporting standards into national business practices. The hypothesis is put forward that the implementation of CSRD in Ukraine will contribute to increasing the transparency of the corporate sector, attracting investments, adapting to global sustain­able development standards, and integrating into the European economic space. The aim of the article is to outline the consequences of the Corporate Sustainability Reporting Directive implementation within the European Union and to analyze its potential for Ukraine, particularly in the context of opportunities for adaptation to national conditions. The research methods include a systematic approach, analysis, synthesis, comparison, and also special methods are used to evaluate the effectiveness of European practices and recommendations for their implementation in Ukraine. The research results demonstrate that the CSRD implementation will contribute to harmonizing the Ukrainian regulatory framework with European standards, increasing business competitiveness, reporting transparency, moder­nization of corporate governance, post-war economic recovery, optimization of environmental manage­ment, acceleration of European integration, and strengthening of Ukraineʼs international image. At the same time, the article emphasizes the importance of overcoming key barriers, such as insufficient metho­dological and institutional framework, the need for resource provision, and the adaptation of national legislation to European standards. The proposed recommendations are aimed at effective cooperation between the government, businesses and scientific institutions for the successful implemen­tation of CSRD. Thus, the CSRD implementation can become a driving force for sustainable development of Ukraine, promo­ting long-term economic stability, integration into global markets, and the realization of European integration goals.