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Sustainability reporting refers to the disclosure, whether voluntary, solicited, or required, of non-financial performance information to outsiders of the organization. [1] Sustainability reporting deals with qualitative and quantitative information concerning environmental, social, economic and governance issues.
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 ...
Sustainability reporting aims to standardize and quantify the environmental, social and governance costs and benefits, derived from the activities of the reporting companies. Examples of ESG reporting include quantified measures of CO 2 emissions, working and payment conditions, and financial transparency. [13] [25] [26]
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 ...
A 2014 session by the United Nations Conference on Trade and Development promoting corporate responsibility and sustainable development.. Corporate sustainability is an approach aiming to create long-term stakeholder value through the implementation of a business strategy that focuses on the ethical, social, environmental, cultural, and economic dimensions of doing business. [1]
Employee awareness of company-wide sustainability plan further aids the integration of new and improved processes. Sustainability Reporting: Periodic reporting of company performance in relation to goals encourages performance monitoring internally and transparency and accountability externally.
Furthermore, planning a sustainability strategy with the triple bottom line in mind could save companies a lot of money if a disaster were to strike. For example, when BP spilled "two hundred million gallons of oil in the Gulf of Mexico", it cost the company "billions". This company focused mostly on the financial and economic costs of this ...
They can include assessment, appraisal [3] and other reporting systems. The metrics are used over a wide range of spatial and temporal scales. [4] [2] For organizations, sustainability measures include corporate sustainability reporting and Triple Bottom Line accounting. [1]