Emerging Significance of Sustainability Accounting and Reporting In India - A Conceptual Study

Abstract

The challenge of sustainable development is an important aspect in today’s business arena. Linkage between corporate success and sustainability aspects of business has been established. In India, sustainability reporting by companies is gaining a lot of importance over the years. Even though leading standards such as Global Reporting Initiative (GRI) have made significant advancements in setting out the types of information that companies should publicly disclose, sustainability reports should be placed in a system that can effectively utilize the information and cause companies to change their policies and practices. This study discusses the benefits of sustainability reporting, the hindrances faced in its development and its status in India.