2026-05-09T20:26:59.016Z http://ezaposleni.singidunum.ac.rs/rest/sciNaucniRezultati/oai

ezaposleni.singidunum.ac.rs/rest/sciNaucniRezultati/oai:1:10859 2024-12-10T17:30:25Z 1

Towards a sustainable future: The integration of ESG in financial reporting 2024 http://ezaposleni.singidunum.ac.rs/rest/sciNaucniRezultati/oai/record/1/10859 https://portal.finiz.singidunum.ac.rs/Media/files/2024/31-36.pdf M. Kljajić V. Mizdraković A. Jovancai Stakić B. Hadrović Zekić The goal of this paper is to point out the need for standardized ESG frameworks to enhance transparency and stakeholder trust, as well as overall performance of reporting entity. Modern business requires encompassing Environmental, Social, and Governance aspects into financial reporting in order to provide business transparency and responsibility. Both qualitative and quantitative disclosures are required in order to compare performance against set goals and risks. Literature review shows that post-2008 financial crisis studies and recent COVID-19 research show companies with high ESG ratings have better financial and market returns and attract loyal investors. The International Sustainability Standards Board, established in 2021, issued IFRS S1 and S2 standards in June 2023, effective January 2024, to improve global sustainability reporting. Early adopters of comprehensive and effective ESG reporting have demonstrated superior performance in the global economy, and this trend is expected to persist. conferenceObject 31 36 10.15308/finiz-2024-31-36 FINIZ 2024 - Social Media and Contemporary Business