Published in Scientific Papers. Series "Management, Economic Engineering in Agriculture and rural development", Vol. 24 ISSUE 3
Written by Elena TOMA (DIACONU), Ionuț VOCHIN, Aurelia Vasilica BALAN

The last decade's development and implementation of non-financial reporting culminated in the approval of the Corporate Sustainability Reporting Directive (CSRD) and the European Sustainability Reporting Standards (ESRS). These have become mandatory for large companies, but it is estimated that in the future all companies will have to consider environmental, social, and governance (ESG) factors in the management process. The CSRD, effective from January 2024, aligns sustainability reporting with financial reporting, requiring standardized disclosures on ESG issues. This paper explores the challenges and opportunities of the future implementation of ESG standards in agricultural companies. Key issues include data collection, compliance costs, and the need for sector-specific reporting. Despite these challenges, ESG reporting offers potential benefits such as improved reputation, risk management, and market access. The paper assesses current practices and future directions for integrating ESG in agriculture, highlighting the need for improved reporting frameworks and methodologies.

[Read full article] [Citation]