Yaroslav Shliakhov: ESG reporting is an indicator of business maturity and the key to investing in Ukraine’s reconstruction

The 5th International Sustainability Forum focused on issues of international cooperation, attracting investment for Ukraine’s recovery, and developing human potential.

In the panel dedicated to recovery, Commissioner Yaroslav Shliakhov spoke about the current state of disclosure of reporting in sustainable development and emphasized that the role of the Regulator is not only to set requirements, but also to create opportunities for businesses: “The Regulator not only sets requirements, but also creates opportunities for companies so that they can assess their level of maturity in sustainable development, environmental and social risks, and gradually move towards European standards,” he said.

According to Shliakhov, there are over 11,000 issuers in Ukraine, of which about 3,500–4,000 are active, but only about two dozen companies have submitted actual sustainability reports. He noted that most reports remain formal, without a systematic analysis of ESG indicators, but it is the understanding by businesses of the importance of ESG that is the first step towards change.

Currently, the NSSMC is actively working on synchronizing state requirements for ESG reporting in order to avoid duplication of indicators and to reduce the burden on businesses.

Upcoming initiatives include:
· developing a unified ESG taxonomy to translate reporting into measurable indicators;
· creating practical recommendations and guidelines for sustainable development reporting;
· resuming the “Skorcard” project, a tool for industry-specific assessment of companies’ ESG maturity;
· educational work with businesses to increase understanding of ESG as an integral part of companies’ long-term strategies.

“Sustainable development is not just a regulatory requirement; it is an indicator of business maturity.

To access resources for reconstruction, we need to change our approach and mindset: ESG is not only a matter of responsibility, but also of competitiveness and access to investment,” concluded Yaroslav Shliakhov.