On October 23, 2025, key stakeholders in Armenia met to advance the country’s sustainability reform agenda. The roundtable, organized by the Ministry of Finance of Armenia with World Bank support under the EAASURE program, brought together fifteen representatives from government, including relevant line ministries and government agencies, non-governmental organizations, and academics to examine policy options for introducing mandatory sustainability reporting.

The Armenian Government has established ambitious environmental and social commitments under programs such as Nationally Determined Contribution (2021–2030) and the Long-Term Low Emission Strategy (2050). Until now, sustainability reporting has been voluntary and limited. Moving towards mandatory sustainability reporting is seen as critical to improve transparency, investor confidence, and competitiveness. Disclosure of environmental, social, and governance data improves risk management, reputation, and access to capital. It enables companies to align with global good practices, support export ambitions, and meet the requirements of international partners. For the public, it ensures accountability, informed decision-making, and progress toward national and global sustainability goals.

Slideshow |

Sustainability Reporting Requirements In Armenia

Play Slideshow

The roundtable considered a draft Policy Decision Note and Country Action Plan. Participants recognized the complexities of moving to mandatory sustainability reporting, and the need for careful consideration of standards, scope, assurance, digitalization, and enforcement. Discussions included the following issues:

  • Reporting Standards: Deciding whether to adopt European Sustainability Reporting Standards (ESRS), IFRS Sustainability Disclosure Standards (IFRS SDS), or allow companies to choose between the two reporting frameworks.
  • Scope: Defining which entities would be subject to mandatory reporting, options include public interest entities as defined in Armenia, large companies, and high-impact sectors such as mining.
  • Assurance: Considering a phased approach to assurance on sustainability reporting, starting with limited assurance and moving toward reasonable assurance, and whether audits should be restricted to statutory auditors.
  • Digital Reporting: Exploring the creation of a digital reporting platform and whether to use a single taxonomy or a hybrid system aligned with chosen standards.
  • Supervision and Enforcement: Debating whether existing financial reporting authorities should oversee compliance or if a new body should be established, and whether enforcement should be gradual or immediate.

The next steps for Armenia include incorporating feedback from the roundtable to finalize the Policy Decision Note and Country Action Plan and establish a framework for sustainability reporting that is aligned with international good practices.