The Russian authorities wanted to know more about the business

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www.vsyako.netPhoto: Ramil Sitdikov / RIA Novosti

Ministry of economic development has asked the new government headed by Prime Minister Mikhail Mishustin to help convince large businesses to disclose non-financial indicators such as environmental and social policy. About this newspaper “Vedomosti”, citing a copy of the letter of Ministry of economic development of the government apparatus.

The concept of development of public non-financial reporting of authorities is approved in 2017, fall 2019 the government has submitted an updated version of the bill. The document requires public companies and state unitary and other businesses whose revenues or assets exceed 10 billion rubles, at least to disclose non-financial information. For example, include data on how much the company buys from small businesses and how often is liable for corruption.

Under the assumptions, the order could affect about 500 companies. It was expected that greater transparency will allow investors to learn more about Russian businesses and make local companies more attractive. In addition, it will enhance the competitiveness of enterprises of Russia on the international market. However, firms are reluctant to make new commitments. As explained by the interlocutor of the newspaper in large industrial companies, big business is not yet clear what the Ministry of economic development invites him to subscribe to. The Association “Rosspetsmash” he added that it is difficult to evaluate the document, while there is no definitive list of indicators.

Deputy Minister of economic development Ilya Hummocks explained that the government will prepare a resolution on key performance indicators. According to him, although companies are reluctant to disclose non-financial reporting mandatory, this must be done because otherwise no development will succeed. Now the bill is supported mainly companies that already disclose non-financial reporting. There are about 170.

Video, photo All from Russia.

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