Volume XII, Issue 1(49) Spring 2021 18 The Role of Non-Financial Reporting in Modern Ecological Problems Updating and Solving Hanna MYSAKA Taras Shevchenko National University of Kyiv, Ukraine mysaka_g@knu.ua Ivan DERUN Taras Shevchenko National University of Kyiv, Ukraine derun@knu.ua Iryna SKLIARUK Taras Shevchenko National University of Kyiv, Ukraine i.skliaruk@knu.ua Suggested Citation: Mysaka, H., Derun, I., Skliaruk, I. (2021). The Role of Non-Financial Reporting in Modern Ecological Problems Updating and Solving. Journal of Environmental Management and Tourism, (Volume XII, Spring), 1(49): 18-29. DOI:10.14505/jemt.v12.1(49).02 Article’s History: Received 28 th of December 2020; Received in revised form 9 th of January 2021; Accepted 29 th of January 2021; Published 22 nd of February 2021. Copyright © 2021 by ASERS ® Publishing. All rights reserved. Abstract The relevance of the paper is due to the conscious demand of society for ecological results data of business against the background of climate change and ecological disasters. The purpose of the article is to develop recommendations aimed at improving informativeness and reliability of the companies’ non-financial reporting on their ecological management. The study is based on a legitimacy and legality analysis of the global practice of compiling and submitting non-financial reporting. It is determined that the Global Reporting Initiative (GRI) Standards are the most popular among the public-interest entities for the preparation of non-financial reporting. The authors have structured a set of current GRI Standards 300 series (Environmental topics) on the issues’ content. The authors have formed practical proposals increasing the informativeness of non-financial reporting, which is made according to the GRI Standards by identifying the need for additional data disclosure about the company’s policies on resource consumption, environmental protection, hazardous emissions and waste management. These proposals will help increase the credibility of non-financial reporting indicators by providing cross- sectional information on the same phenomenon or event in case of the absence of independent control over the statement’s reliability. It will be an important argument in favour of non-financial reporting as a data source for all stakeholders’ decision- making. Keywords: corporate social responsibility (CSR); non-financial reporting; sustainable development; GRI standards. JEL Classification: Q56; Q57; M40. Introduction Since 1987, when the problem of sustainable development and its fundamental principles were first formulated, the efforts of supranational institutions, individual countries and civil society made to manage economic efficiency with a primary focus on the social and environmental aspects of human functioning have increased significantly. The perceived need to make radical changes in all major areas of human life stimulated setting specific goals, objectives and their quantitative parameters in order to further assess their achievement in a short and well- defined time. It is extremely relevant, and it attaches a significant importance to the issues of accelerating the collection of reliable, relevant and comparable information by corporations on non-financial aspects of their performance. Trust in non-financial reporting is the key to an effective fight against existing social and DOI: https://doi.org/10.14505/jemt.v12.1(49).02 DOI: https://doi.org/10.14505/jemt.v9.7(39).01