Corporate Governance and Sustainable Development: Theoretical and Methodological Principles
DOI:
https://doi.org/10.58423/2786-6742/2025-11-114-125Keywords:
corporate governance, sustainable development, ESG, CSRD, GRI, corporate reporting, inclusivity, transparencyAbstract
The article examines the transformation of corporate governance in the 21st century, during which it is no longer viewed solely as a tool of economic efficiency but increasingly acquires the features of a mechanism for implementing the principles of sustainable development. It is emphasized that in Ukraine corporate structures operate within a complex regulatory environment, which complicates the integration of environmental responsibility, social justice and ethical standards into the management system. The article analyzes the scientific approaches of domestic and foreign researchers to defining the essence of corporate governance, outlines existing models (Anglo-Saxon, continental, Japanese, stakeholder- and ESG-oriented), and characterizes the possibilities of their adaptation in Ukrainian realities. It is substantiated that the most promising directions include stakeholder-oriented, ESG-based, and institutional-legal approaches, as they that can ensure a balance between economic efficiency, social responsibility, and environmental sustainability. Particular attention is paid to international non-financial reporting standards (GRI, ESG, CSRD, ESRS), which form the basis of business transparency and accountability, as well as to factors hindering their implementation in Ukraine: regulatory uncertainty, low managerial awareness, shortage of qualified personnel, limited resources and cultural and organizational barriers. The article identifies key areas for improving corporate governance, including the harmonization of legislation with EU requirements, development of educational initiatives, implementation of non-financial reporting, audit and digitalization of management processes. It is concluded that the effective integration of sustainable development principles into corporate practice is a prerequisite for enhancing transparency, investment attractiveness and competitiveness of Ukrainian companies, while further progress in this area requires a comprehensive interdisciplinary approach.
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