Sustainability Reporting Towards Common Standards

Abstract

The industrialization is connected to the rise of the idea of sustainable development. As of the second half of the 19th century, Western societies discovered that their economic and industrial activities had a significant impact on the environment and the social balance. Several ecological and social crises took place in the world and rose awareness that a more sustainable model was needed. In the 21st Century, a shift in reporting towards assured SR has given the corporates a tool to report on how non-financial factors interact with financial ones and ultimately drive a corporate’s value (Mock, Rao, & Srivastava, 2013; Rupley, Brown, & Marshall, 2017).