Communicative Channels of Stakeholder Interaction as an Element of Ensuring Sustainable Development of the Business Sector

Abstract

Given the rapid globalization and intensive development of information and communication technologies, an increasing number of stakeholders are participating in various business processes. The paper aims to conduct a systematic structural analysis of trends and features of stakeholders’ engagement and communication channels in companies’ activity following implementation tasks of sustainable development. Analyzing the features, trends and priorities of implementing sustainable development goals for stakeholders will be provided based on the KPMG Survey of Sustainability Reporting. Analyzing countries’ and companies’ rates of sustainable development reporting illustrates the steadily growing dynamics of publicly available presentation of the results of environmental activities, which indicates the actualization of ensuring transparent and permissive relations among various subjects of economic activity. The structural analysis of the priority of the implementation of the goals of sustainable development for stakeholders shows the heterogeneity of preferences. The most urgent SDGs are SDG7, SDG8, SDG9, SDG12, and SDG13. Analyzing the results of Ukrainian implementation of requirements for the involvement of stakeholders in decision-making following EU policy and SDGs’ testified compliance with the requirements of European legislation by indicators of stakeholders’ obligations, responsibility for public consultation and information disclosure, consultation duration and complaint mechanism. At the same time, indicators that describe participants in the consultation process, communication, information disclosure, and reports to stakeholders were not well regulated. Building transparent and trusting relationships and involving stakeholders in consultations and decision-making will promote the formation of a positive green image and brand of the company and the growth of market capitalization.