Russian President Vladimir Putin proposed introducing annual non-financial reporting for large companies, which would contain information about their participation in social projects. He said this during his speech at the congress of the Russian Union of Industrialists and Entrepreneurs (RSPP), Interfax reports.
According to Putin, such reporting will describe what the company “has done for society, for a particular village, city, region, for its country.”
“I know simply, the vast majority, almost everyone has such social programs. But they are known only in a narrow sector, let’s make it the property of the whole society. This will benefit everyone and will be a good example for everyone,” Putin said.
He also suggested establishing a special award for the “most responsible company”.
Speaking at the RSPP congress, Putin declaredthat responsible business does not hide the funds received offshore, but registers companies in Russia and invests in the construction of social facilities and infrastructure, that is, making “everyone’s life better.”
“And instead of working offshore and withdrawing the funds received here for things, let’s say, not essential things, special programs are being launched to support employees and their families, along with the regional authorities, funds are directed to roads, hospitals, sports and cultural facilities, in a word, they do life is better for everyone around,” Putin said.