Transbaikalia entrepreneurs are offered to undergo an assessment according to the Business Social Capital Standard
The business social capital standard is a national system for determining the main approaches to the preparation of public non-financial reporting in the field of business social capital and the procedure for verifying the compliance of an organization’s activities with the target values of business social capital indicators, and also allows determining the organization’s contribution to improving the welfare of society and the level of socio-economic development of the Russian Federation.
For whom is the Standard developed?
The standard can be used by both large companies and small and medium-sized businesses. Application of the Standard is voluntary.
Large businesses and groups of companies: for organizations preparing non-financial reporting. The standard ensures recognition of their social contribution at the federal level.
Small and medium-sized enterprises (SMEs): the SME sector has a simplified assessment procedure based on key indicators without the need to prepare reports.
Government bodies: a transparent system for assessing the activities of companies, assessing the contribution of business to achieving national goals, as well as a tool for setting up targeted support measures and preferences for responsible business
Society: improving the quality of life of the Russian population, involving the country's residents in the implementation of socially significant tasks.
Contents of the Business Social Capital Standard
Directions of assessment according to the Standard:
- environmental indicators (environmental protection costs, water use, pollutant emissions, waste management, carbon footprint, energy consumption, etc.)
- social indicators (charity expenses, support for social programs, employee training, etc.)
- management indicators (management composition, positions with corruption risk, climate policies, corporate disputes, fines for violations of corporate legislation, etc.)
- economic indicators (labor productivity, purchases of Russian goods, share of purchases from SMEs, green investments, climate-vulnerable facilities, etc.)
- business reputation (value of ECG rating or ESG ratings/rankings)
- indicators reflecting participation in achieving national development goals (for example, expenditures on the development of health care infrastructure, on the development of infrastructure in the field of culture, art and folk art).
The Standard details the following procedures:
- preparation of reporting in the field of social capital of business;
- a system for verifying the compliance of the organization’s activities with the target values of social capital indicators;
- the procedure for assigning verifier status and maintaining a list of verifiers.
How to report under the Business Social Capital Standard
The organization submits an application through the official digital platform of the ANO “Public Capital”.
The content of the application depends on the category of participant:
- for organizations (except SMEs) - non-financial reporting prepared in accordance with the requirements of the Standard;
- for small and medium-sized businesses (SMEs) - information in a simplified form, including only a questionnaire with a shortened list of indicators.
What benefits does being compliant with the Social Business Capital Standard provide to companies?
Compliance status with the Standard entitles companies to priority access to financial and non-financial government support measures. In addition, it helps to strengthen business reputation, increase confidence on the part of partners and investors, and also enhance the investment attractiveness of the business.
Where can I check if a company meets the Social Business Capital Standard?
The register of companies that comply with the Social Capital Business Standard is posted on the platform of the ANO “Public Capital”. Information about a company’s compliance with the Standard is also published in the organization’s card in the SPARK-Interfax information and analytical system.
