Integrated non-financial corporate reporting on sustainable development

The article discusses the legal and economic problems of development in Russia of a new tool of environmental management aimed at environmental protection and implemented through the concept of Integrated non-financial corporate reporting in sustainable development. Summarizes international approaches accounting community to this field, practice shows the preparation of the integrated non-financial reporting of the Russian company-mi, identifies the main problems and disadvantages of the preparation of the integrated non-financial reporting in relation to environmental components does domestic companies. To eliminate these disadvantages it is proposed to show the process of formation of the company’s value under the influence of factors of sustainable development in the preparation of integrated non-financial reporting through the integration of environmental risks, expressed in terms of the assessment of potential and actual environmental damage. Currently, the legal definition of “environmental damage" in the Russian legislation is missing. There are also no grades of environmental damage, which hinders an adequate assessment of environmental risks that could be reflected in integrated non-financial reporting. In order to eliminate the problems of preparation of integrated non-financial reporting by Russian companies, it is proposed to eliminate gaps in the legal and methodological regulation of issues of assessment and compensation of environmental damage and adoption of a specialized regulatory document in this area in the form of a standard for assessing environmental damage.