Summary 

Green economy is the main result of well-being and social equality of people, which significantly reduces environmental risks and ecological losses. Green economy is a model of economic development based on sustainable development and knowledge of ecological economics. It differs from other fields that it directly assesses the country's natural capital, which has the economic value. Civil society and economic subjects participate in the development of green economy, who are producers and suppliers of goods and services. All this increases and poses some challenges to the responsibilities of economic subjects.

In terms of production and consumption, increase of liability of agricultural subjects means they are using efficient resources and materials, minimizing and avoiding waste generation, sustainably using water resources. Environmental considerations, reasonable consumption of resources etc. all this serves to develop the green economy.

Increasing the liability of the economic subjects together with the above requirements also implies creating, presenting, and publicizing the factors on the green economy in the form of governance accounts. Creating and submitting reports for the Georgian business sector is a novelty for the superior organization.

Within the framework of the Association Agreement between Georgia and the European Union, Georgia undertakes to implement legislative and administrative-structural changes. As a result, in 8 June 2016, the Parliament of Georgia adopted the Law on Accounting, Reporting and Audit, which aims to create a regulatory framework for accounting, reporting and auditing. Also, Georgia, the European Union and European Atomic Energy Union and their member states are closer to the EU acts envisaged by the Association Agreement.

The above law, along with other requirements of the Green Economy, has been entrusted to the entrepreneurs, particularly those of public interest and enterprises of the first and second categories, and the new legal requirements for preparation and submission of management reports. In particular, the public interests of the first and second categories under this law are obliged to enter the accounting, reporting and audit supervision service together with financial accounting in the period of 31 December 2017 and the following financial statements. Creating and submitting reports for the Georgian business sector is a novelty for the superior organization.

Based on the experience of the developed states, we can assume that the preparation and publicity of the management report will positively affect the sustainability of the subjects and the improvement of financial or non-financial indicators. Over time, this process will facilitate the development of the subject, increase the number of employees and the trustees of the partners, investors and customers towards the subject.