ACHIEVING THE SUSTAINABLE DEVELOPMENT GOALS
Aurel Constantin LUPU, Oana Raluca IVAN
“1 Decembrie 1918” University of Alba Iulia, Alba Iulia, Romania
Abstract: The purpose of this paper is to examine the state of Romania’s sustainable development using statistical indicators (green investments, employment rate, GDP expenditure on research, development, and innovation, greenhouse gas emissions, share of renewable energy in gross final energy consumption, early school leavers, tertiary educational attainment, and people at risk of poverty or social exclusion). The method used in this research work is bibliographical and statistical research. The topic of sustainability has experienced a new upswing. Society demands sustainable business from companies and wants transparent information in return. The importance of sustainable action is also reflected in investment decisions: the classic financial key figures are no longer the exclusive reason for an investment. Rather, non-financial indicators are expected to provide further information about the long-term value of a company. In 2014, EU member states adopted a directive to expand the reporting of large capital market-oriented companies, credit institutions, financial services institutions and insurance companies. Since 2017, this Nonfinancial Information (NFI) Directive has been mandatory for capital market-oriented companies in Austria within the framework of the Sustainability and Diversity Improvement Act (NaDiVeG). In concrete terms, this means that capital market-oriented companies must publish a non-financial statement or a separate non-financial report in addition to the management report. The number of companies generating and providing non-financial information to interested users is steadily increasing around the world, while the quality of disclosure of such information is increasing. Year by year, as evidenced by numerous studies and stakeholder surveys. In Romania, green initiatives have resulted in an increase in the share of renewable energy in total energy consumption, a decrease in school dropouts, and an increase in the number of students enrolled in bachelor’s degree programs.
Keywords: non-financial reporting; sustainable development; disclosure; regulations; performance indicators; stakeholders.
