Desmko Rihter, Jelena and Gjorgjioska, Emilija and Janeska, Margarita (2026) Implementation of Sustainability Reporting Standards: Readiness of Joint Stock Companies from Serbia vs. North Macedonia. In: ReShaping the Built Environment through Sustainability and Circularity. Springer Nature, Cham, Switzerland, pp. 1159-1167. ISBN 978-3-032-35104-3
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Abstract
Abstract. The commitment of companies to Environmental, Social, and Governance (ESG) issues has never been more relevant or emphasized in the global socio-economic environment. The aim of the paper is to make a comparative
analysis of ESG reporting in the Republic of Serbia (RS) and Republic of North Macedonia (RNM), starting with the legal and regulatory framework and afterwards with practical implementation of the ESG reporting by joint stock companies listed on Serbian (index BELEX15) and Macedonian (index MBI10) stock exchanges, respectively. The study uses a mixed-methods design that integrates both qualitative and quantitative techniques. The qualitative part consists of gathering and analyzing legal and regulatory acts, and reports published by analyzed joint stock companies. The quantitative analysis includes evaluating and scoring
indicators according to ESG segments of the reports. The results show the level of maturity of Serbian and Macedonian companies of implementing ESG standards in their operation by statistical and visual presentation of the findings by using Microsoft Excel. Companies listed in MBI10 demonstrate a good ESG maturity level, whereas companies listed in the BELEX15 show moderate ESG maturity level. Considering the research results, the paper provides recommendations for
improving ESG reporting practices in Serbia and North Macedonia.
Keywords: ESG · sustainability reporting · corporate governance · joint-stock companies · regulatory compliance
| Item Type: | Book Section |
|---|---|
| Subjects: | Scientific Fields (Frascati) > Social Sciences > Economics and Business Scientific Fields (Frascati) > Social Sciences > Law |
| Divisions: | Faculty of Economics |
| Depositing User: | Mr Dimitar Risteski |
| Date Deposited: | 08 Oct 2026 13:29 |
| Last Modified: | 08 Oct 2026 13:29 |
| URI: | https://eprints.uklo.edu.mk/id/eprint/11888 |
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