Current Trends in Sustainability Reporting in the Czech Republic

Abstract

Sustainability reporting has become a mainstream business activity. The Amsterdam Declaration on Transparency and Reporting of the Board of the Global Reporting Initiative from March 2009 told to global leaders from business, labour and civil society declared their belief that the lack of transparency in the existing system for corporate reporting has failed its stakeholders. It brought a new impulse to sustainability reporting on economic, environmental, social and governance performance. The new approach of corporate sustainability reporting is presented in the paper. The development in the area of sustainability reporting in the Czech Republic reflects the overall global world trends. Some large corporations are actively performing sustainability reporting; on the other hand, the relative share of these companies is rather small. The paper also indicates companies group in the Czech Republic that participate on the corporate sustainability reporting and evaluates the state of voluntary reporting in chemical industry.