The aim of this paper is to explore the literature regarding sustainability and extended reporting frameworks. We start by defining corporate social responsibility (CSR) and sustainability and adopting the view that these terms have similar meanings and are often used interchangeably to mean the same thing. Next, we outline a brief overview of the historical development of the concepts of sustainability, which will lead into an analysis of the five major frameworks covered in the literature: (1) agency view; (2) corporate social performance view; (3) resource-based view; (4) supply and demand view; and (5) the stakeholder view, which is the dominant view. Following this, we look at understanding stakeholders and their importance in sustainability and conclude with some observations about sustainability frameworks, and the motivations of companies for increased disclosure with their stakeholders. These motivations focus on the long-run corporate benefits including improved financial performance of the firm, increased competitive advantage, profit maximisation, and the long-term success of the firm.
|Title of host publication||Environmental accounting|
|Subtitle of host publication||concepts and practices|
|Place of Publication||Hyderabad, India|
|Publisher||ICFAI University Press|
|Publication status||Published - 2008|