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Sustainability accounting (also known as social accounting, social and environmental accounting, corporate social reporting, corporate social responsibility reporting, or non-financial reporting) originated in the 1970s [1] and is considered a subcategory of financial accounting that focuses on the disclosure of non-financial information about a firm's performance to external stakeholders ...
Social accounting (also known as social accounting and auditing, social accountability, social and environmental accounting, corporate social reporting, corporate social responsibility reporting, non-financial reporting or accounting) is the process of communicating the social and environmental effects of organizations' economic actions to particular interest groups within society and to ...
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Robèrt coordinated a consensus process to define and operationalize sustainability. At the core of the process lies a consensus on what Robèrt came to call the natural step framework. The framework is based on a definition of sustainability, described as the system conditions of sustainability (as derived from System theory).
The environmental benefit comes from the recycling accomplished. In the private sector, a commitment to corporate social responsibility (CSR) implies an obligation to public reporting about the business's substantial impact for the better of the environment and people. Triple bottom line is one framework for reporting this material impact.
Global indicators- Due to differences in social, economical, and environmental conditions of countries, each country has its own indicators and indexes to measure sustainability, which can lead to improper and varying interpretation at the global level. Hence, there common indexes and measuring parameters would allow comparisons among countries.
However, the framework surrounding such reporting is in constant evolution and companies are increasingly challenged by the form, content and process of their sustainability reporting. While this requirement presents multiple opportunities for firms, investors, consumers and all stakeholders, it also creates a number of challenges.
Corporate social responsibility may cover: A company running its business responsibly in relation to internal stakeholders ( shareholders , employees , customers and suppliers) The role of business in relation to the state (locally and nationally) as well as to inter-state institutions or standards