The possibility of implementing corporate sustainability reporting standards in Georgia

Abstract

       Modern trends of sustainable economic development are global in nature.  Economic sustainability includes corporate sustainability, which aims to create long-term value through the implementation of business strategy, focusing on ethical, social, environmental, cultural and economic dimensions. The European Union has developed the Corporate Sustainability Reporting Directive (CSRD), which is related to modern trends in sustainable development. Georgia's interest in joining the European Union puts on the agenda the consideration of the requirements of the mentioned directive in the relevant legislative and regulatory documents. The Association Agreement with the European Union envisages the increase of Georgia's involvement in the strategies, programs and organizations of the European Union. According to the Association Agreement, the parties will build and strengthen their relations, taking into account the long-term goals of sustainable development and green economy. Thus, the challenges of our country regarding the possibility of introducing corporate sustainability reporting standards are relevant.