Development of a Set of Measures to Improve Sustainable Development Indicators for a Large Russian Timber Holding Company

In recent years, the topic of sustainability has gained popularity among both scholars and practitioners. Population growth, globalization, a sharp increase in world production and consumption, along with climate change are some of the main factors that have made humanity think about how it can develop in a sustainable way without causing irreversible harm to the environment. An important question is: how to measure sustainable development? Various indicators have been developed to monitor the sustainable development of both enterprises and countries to ensure that sufficient progress is being made. Organizations focused on long-term success integrate sustainability into their business models and publish sustainability reports annually. This study is aimed at developing a set of recommendations for improving sustainable development indicators for a large Russian timber holding. To achieve this, based on the literature analysis, a set of sustainability indicators which measure environmental, social and economic development was compiled, and then the comparative tables were completed through the analysis of the annual reports of the company and its competitors. In addition, the history of the company, its business activities, financial performance, sustainability and external competitive environment were assessed. Furthermore, the best practices in the field of sustainable development, implemented by competitors, were identified, and the compliance of their annual reports with the GRI system was verified. Overall, this study could provide new perspectives on sustainability indicators that are important for companies in the forestry, wood and paper products industries.