Non-financial reporting: content, development, international standards and information base for their application by business entities in Belarus

The relevance of the study is due to the need for Belarusian business entities to integrate into global supply chains in order to enhance their export potential, increase competitiveness, and capacity for technological transformation of the business. For this, organizations need to comply with the international context of sustainable development and demonstrate their commitment implementing these practices to stakeholders through non-financial reporting. As Belarus lacks a nationally standardized methodological framework for non-financial reporting, business entities may rely on international standards for its preparation. Compiling non-financial reports in accordance with international standards necessitates access to a reliable and comprehensive information base. The purpose of the article is to propose measures for improving the completeness and adequacy of the information base for Belarusian economic entities to prepare non-financial statements under GRI, SASB, IIRC standards. The article analyzes foreign experience in regulatory frameworks for non-financial reporting, global publication trends, the scope and features of key voluntary international standards of non-financial statements, and the evolution of non-financial reporting practices in Belarus. The author assesses the existing information base available to Belarusian entities for applying GRI, SASB, and IIRC standards. The study concludes that the current information base is inadequate for compiling nonfinancial statements by domestic entities. Recommendations for strengthening the information base include: development and validation of internal strategic documents on sustainability and Environmental, Social, and Governance (ESG) policies, objectives, and initiatives; creation of methodological guidelines for non-financial reporting; enhancement of analytical capabilities of accounting software; and establishment of dedicated communication channels, such as Telegram channel or a corporate website section for publishing events and the results of the organization in the field of sustainable development and ESG, thereby streamlining data collection for non-financial disclosures.