Sustainability Reporting in Romania through the Sustainability Code

Abstract

Humanity today faces major challenges related to climate change, the food crisis, and social problems, realities that have an impact on the business world. Classic financial reporting proves to be limited. Europe initiated the process towards non-financial reporting of large companies a decade ago. In 2023, the European Sustainability Reporting Standards (ESRS) were adopted. In Romania, sustainability reporting is carried out through the Romanian Sustainability Code, which represents a strategic tool for transparent and unitary reporting of an entity's activity from the point of view of the impact on sustainable development.