The Moscow Stock Exchange has obliged a number of issuers to disclose non-financial information. Companies will be able to determine the reporting form themselves, the trading platform’s press service told RB.RU.
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The rule applies only to issuers included in the first and second trading levels. Reports can be submitted using international and Russian standards for disclosure of information on sustainable development, the Moscow Stock Exchange press service clarified.
Non-financial information required to be disclosed may be presented as part of the annual financial report or in the form of a separate non-financial report.
Related material: What is non-financial reporting and its importance for business in Russia?
Elena Kuritsyna, Senior General Director of the platform for interaction with issuers and authorities, announced in July that the Moscow Exchange plans to introduce requirements for the publication of non-financial information. She noted that the exchange will not need a special reporting format, of which “there are many. “However, we are beginning to accustom companies to the fact that everyone understands that this is a basic hygienic minimum,” the top manager said.
Last week, the Ministry of Economic Development proposed introducing a national standard for non-financial reporting. According to the government decree prepared by the department, it should contain in particular information on the company’s contribution to social programs and the development of society.
Author:
Kirill Bilyk
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
