The companies seeking long-term success are increasingly integrating environmental, social and governance (ESG) principles and global sustainable development goals (SDGs) into their strategies. 

 

Audit of sustainability reporting from BDO in Ukraine is a powerful tool to improve transparency, international compliance and effectiveness of your ESG strategy. Our services help companies establish trust with investors, customers and society, and turn sustainability into a competitive advantage.

On 18 October 2024, the Cabinet of Ministers of Ukraine approved the Strategy for Introduction of Sustainable Development Reporting by Enterprises and the operational plan for its implementation in 2024-2026. The document aims to introduce the uniform reporting standards in line with European norms and provides for the introduction of reporting in accordance with the European standards (ESRS) and the audit of such reporting in Ukraine.

 

Why the audit of sustainability reporting is critically important?

1.    Compliance with global and local requirements

Regulatory changes dynamics, in particular the CSRD (Corporate Sustainability Reporting Directive), require European companies to undergo mandatory sustainability reporting audits. This is still a draft law in Ukraine, but it may become mandatory in the near future.

ESG reporting audit by BDO in Ukraine ensures: 

• Full compliance with standards (GRI, SASB, TCFD, ISO 26000)
• Adaptation to Ukrainian legislation
• Data accuracy (CO₂ emissions, waste management, social programmes).

2. Strategy for attracting investment

Investors are increasingly using the ESG criteria to assess risks and prospects for companies. According to the research, 85% of institutional investors are willing to refuse to work with the companies ignoring sustainability. Independent auditing makes your company attractive to funds.

3. Protection against reputational and financial risks

Inaccuracies in non-financial reporting can lead to:

• Fines for regulatory violations
• Loss of trust among stakeholders
• Decline in share value (as was the case with a number of European companies in 2022).

 

How we perform the audit of sustainability reporting?

Stage 1. In-depth analysis of the ESG strategy

• Assessment of compliance with SDG targets (17 UN global goals)
• Audit of ESG integration into business processes (supply chains, HR policies)
• Identification of priority areas for your sector (e.g. energy efficiency for manufacturing).

Stage 2. Detailed data verification

• Environmental indicators: emissions into the atmosphere, use of renewable energy sources
• Social initiatives: gender equality, occupational safety, support for local municipalities
• Governance: anti-corruption mechanisms, business ethics, transparency of meetings.

Stage 3. Development of recommendations and improvements

• Plan for optimising ESG reporting in accordance with the CSRD directive and the ESRS standards
• Investor communication tools (reports, presentations, webinars)
• Employee trainings on integrating sustainable development.

 

Key benefits of working with BDO in Ukraine

• International expertise: 15+ years of experience in ESG auditing for the EU and the US companies
• Localised solutions: Adaptation of international standards to the Ukrainian market
• Comprehensive approach: From auditing to turnkey ESG strategy development.

 

The team of auditors at BDO in Ukraine is certified in sustainable development and ethics principles by ACCA (Professional Diploma in Sustainability course) and undertakes continuous training in sustainability reporting.

 

Take a step towards a sustainable future now!

BDO in Ukraine is your leading partner in ESG. Together, we will build a business that meets the challenges of the present and the future.