Greenwashing Detection and Impact on Responsible Business and Investment: Case of Ukrainian Companies (Agriculture Leaders)

Ukrainian agricultural companies are playing a leading role in preventing the global food crisis, having significant production potential and promoting responsible business practices. Ukraine’s application for membership in the European Union (EU) will open new opportunities for responsible investment by European investors in these companies and will build new, more sustainable food value chains during the Russian-Ukrainian war. The prerequisite for making responsible investment decisions is transparent and high-quality reporting of Ukrainian agricultural companies, which allows to assess the social, environmental, and managerial aspects of these companies’ activity. This study is aimed at recording the facts of unfair disclosure of information by these companies, building a methodology for identifying signs of greenwashing in the reporting of these companies in accordance with EU sustainability reporting requirements. These requirements cover the EU Taxonomy and NFRD (Non-Financial Reporting Directive). Content analysis and PLS –SEM (partial least squares structural equation modeling) method were used for greenwashing detecting in the sample of agriculture companies’ sustainability reports. Study results will create a reliable basis for investors’ decision-making on responsible investments in Ukrainian companies – leaders of the agricultural sector.