PwC Academy prepares the Ukrainian business for new EU non-financial reporting requirements
04/09/23
How will the new EU Corporate Sustainability Reporting Directive (CSRD) impact Ukrainian businesses and what should they prepare for now? PwC experts discussed this topic with DTEK top management, internal auditors, financial and HR management professionals during the two-day training course.
In the current environment, sustainabilty means taking care of the environment and enhancing the corporate social responsibility, which are defined by the abbreviation ‘ESG’ (Environmental, Social, Governance). The effects of global warming will then become increasingly serious if business approaches are not reconsidered immediately. The EU regulators respond to this challenge by amending the legislation, which involves audits of environmental matters and mandatory non-financial reporting.
What exactly should this reporting cover and what responsibilities will the Ukrainian business assume to raise foreign investments and to cooperate with foreign partners? Detailed explanations of these matters were given to DTEK employees by Anna Parokinna, ESG Reporting Leader in PwC Ukraine, and ESG experts Valerii Mikhailovskyi and Olha Tanchuk.
“The importance of non-financial information and reporting has increased significantly and will continue increasing further due to implementation of new business requirements in the European Union. The EU Directives will certainly have a direct impact on the Ukrainian market as many local players are closely integrated into the European economy and some of them are present in the regulated stock markets. For this reason, it is already the case for DTEK and other companies to invest their time and efforts in preparing for the new reporting standards so that they are able to ensure full compliance with the EU requirements and to develop in western markets successfully”,
“We have received very positive feedback from the training participants. Based on training outcomes, the client team has realised what responsibility rests with every team member and what steps should be taken by the company to meet today’s requirements. In return, our experts are always ready to help business adapt to modern-day reality and develop successfully”,
“Transparency and accountability in the ESG area is a demonstration of DTEK Group responsibility and commitment to create long-term value for the society. Compliance with sustainability principles in the war time is an important aspect of business activities. Our team continues taking care of the quality of life of future generations and adopting a responsible attitude to environmental and social impacts of our production operations”,
