Treasury Control in Sustainable Development

Abstract

Currently, the need to build an organization’s policy from a non-financial point of view, assuming its orientation to environmental, social and managerial factors included in the ESG agenda, is being actively discussed. In Russia, the requirements for non-financial reporting are generated within the framework of international standards, while legal foundations do not support it and its indicators. In order to achieve the sustainable development goals (SDGs), which are reflected in the ESG agenda of today, it is necessary to build not only the proper level of control over the financial flows of the company and the state with the support of measures that contribute to the achievement of the SDGs, but also evaluate the existing control environment of the company for the ability to reach them. The study’s goal is analyzing the current state of the ESG agenda through the prism of factors that determine the subject area of treasury control. The author’s tasks are to disclose its components, characterize the current state of standards for preparing non-financial reporting and methods for rating organizations. Also, the author considers treasury control in sustainable development (SD), determines its subjects and objects, as well as key issues when conducting a control measure from the standpoint of achieving goals and fulfillment of SD tasks. The research uses the content analysis method. Because of the study, the author revealed a low level of regulation and formation of control processes for achieving sustainable development goals. The study formulated the conclusion about the need for their further improvement, provided that a special role in this process will be assigned to treasury control over the activities of organizations in this direction. The results obtained should contribute to implementing such a practice, as well as the formation of the initial stage of state control in this area. The study may interest regulatory bodies and structural divisions of companies, as well as professional communities, in sustainable development.

Keywords

• control
• treasury control
• non-financial reporting
• regulation
• esg agenda
• sustainable development
• green investment
• greenwashing