CSRD AS AN INSTRUMENT FOR UKRAINE’S SUSTAINABLE RECOVERY: PROSPECTS FOR THE IMPLEMENTATION OF ESG REPORTING STANDARDS

Abstract

The article examines the Corporate Sustainability Reporting Directive (CSRD) as a key regulatory tool for building a transparent, responsible, and sustainability-oriented economy, emphasizing its significance for Ukraine’s post-war recovery and European integration. The research highlights the evolution of the sustainable development concept and the establishment of ESG reporting as an essential component of corporate governance. The European Sustainability Reporting Standards (ESRS) are analyzed as a practical mechanism for the implementation of the European Green Deal and the achievement of the EU’s climate goals, including reducing greenhouse gas emissions by 55% by 2030 and achieving climate neutrality by 2050. The study outlines the main motives for adopting CSRD and ESRS–enhancing financial transparency, increasing stakeholder trust, and reducing the risks of “greenwashing” through standardized disclosure requirements. The purpose of the article is to define the role of CSRD as an instrument for the sustainable recovery of Ukraine’s economy and to analyze the prospects for implementing ESG reporting standards (ESRS) in national corporate practice. The paper also explores the current practices of non-financial reporting among leading Ukrainian companies such as MHP, NIBULON, Astarta-Kyiv, Kernel, Carlsberg Ukraine, and Cargill, which voluntarily apply GRI, SASB, and TCFD frameworks. These practices demonstrate the growing awareness of the strategic importance of sustainability disclosure for reputation, competitiveness, and investment attractiveness. The transition to CSRD/ESRS, while challenging due to limited expertise, data collection difficulties, and the absence of unified methodologies, opens new opportunities for Ukrainian enterprises–broader access to international capital, “green” financing, and integration into EU value chains. The article argues that the successful adaptation of CSRD and ESRS requires coordinated efforts by the state, business, and academic communities, including the development of a national framework for ESG data collection and assurance. In conclusion, the implementation of CSRD in Ukraine is not merely a compliance obligation but a catalyst for corporate modernization, transparency, and sustainable economic transformation. It contributes to the creation of an investment-friendly environment and strengthens Ukraine’s integration into the European sustainability architecture, supporting long-term recovery based on environmental responsibility and social resilience.