ИНТЕГРИСАЊЕ ПОСЛОВНО-ФИНАНСИЈСКЕ И ЕSG ОДРЖИВОСТИ ‒ Потреба, изазови и контроверзе ‒
INTEGRATION OF BUSINESS-FINANCIAL AND ESG SUSTAINABILITY ‒ Need, Challenges and Controversies –

Author(s): Radomir Božić
Subject(s): Business Economy / Management, Accounting - Business Administration, Socio-Economic Research
Published by: Savez računovođa i revizora Republike Srpske
Keywords: business-financial sustainability; business continuity; business model; corporate and social responsibility; ESG sustainability and reporting;
Summary/Abstract: This paper aims to point out the need, challenges and controversies of integrating the going concern and ESG sustainability of companies and reporting on them in the current and expected business and regulatory environment. The first part of the paper elaborates on the business and financial sustainability of the company’s operations, based on the business model and strategies that are continuously reviewed and adjusted in order to maintain an appropriate competitive position, as well as the continuous assessment of indicators of the yield, asset and financial position and the sustainability and continuity of the business in the long term, as prerequisites for achieving the target function, understood as creating value for owners, but also other stakeholders. The second part of the paper focuses on the environmental and social aspects of ESG sustainability and reporting and the need to integrate them into the business and reporting models of companies in the current and expected business environment in the context of transposing sustainable development goals to the microeconomic level. The third part of the paper points to the interactions of business-financial and ESG sustainability and reporting in order to ensure the sustainability of the company’s operations and the interests of all stakeholders in the long term, including environmentally and socially responsible business. The fundamental messages and conclusions are synthesized in the final part of the paper.

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