An integrated approach to sustainable development strategy for organizations based on accounting and analytical information

Abstract

The goal of any progressive society is the sustainable development of organizations. Business growth and sustainability should not come at the expense of future generations. The concept of sustainable development involves making investment and financial decisions while considering their social and environmental impact on both the company and society. Reliable information is crucial in making business decisions and developing a long-term strategy for sustainable enterprise development. Therefore, it is necessary to provide accounting and analytical information on sustainable development factors and related risks to increase the confidence of interested users. Investors and consumers are sensitive to the impact of companies on social and environmental aspects of society. This highlights the importance of defining sustainability assessments and integrating them into the business environment. The lack of information flow or documentation confirming the company's environmental and social orientation can negatively impact its reputation with investors and consumers. Traditional reporting methods used by the organization may not adequately address this issue, as they focus solely on financial indicators. A comprehensive solution to this problem is the implementation of integrated sustainability reporting based on the ESG model. A comprehensive solution to this problem is the implementation of integrated sustainability reporting based on the ESG model. It is crucial to demonstrate the correlation between financial data and sustainability indicators. Introducing an integrated approach to disclosing information on the organization's sustainable development can serve as a tool for corporate governance, brand building, and forecasting new trends. This ultimately contributes to improving business efficiency.