A review of corporate sustainability reporting tools (SRTs)

Sustainability reporting has been increasingly adopted by corporations worldwide given the demand of stakeholders for greater transparency on both environmental and social issues. The popularity of such reporting is evidenced by the development of a range of tools in the last two decades – Global Re...

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Bibliographic Details
Published in:Journal of environmental management 2015-12, Vol.164, p.180-195
Main Author: Siew, Renard Y.J.
Format: Article
Language:English
Subjects:
Conservation of Natural Resources
Corporate responsibility
Corporate social responsibility
Disclosure
Environment
Environmental management
ESG
Frameworks
Humans
Indices
Industry
Literature review
Organizations
Ratings
Stakeholder
Stakeholders
Sustainability
Sustainability reporting tools (SRTs)
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Summary:Sustainability reporting has been increasingly adopted by corporations worldwide given the demand of stakeholders for greater transparency on both environmental and social issues. The popularity of such reporting is evidenced by the development of a range of tools in the last two decades – Global Reporting Initiative (GRI), AA1000 and Carbon Disclosure Project (CDP) inter alia. These tools, referred to collectively as corporate sustainability reporting tools (SRTs) are important as they serve to inform the progress of corporations towards achieving sustainability goals. However, the rapid growth of corporate SRTs, with different criteria and methodology has created major complications for stakeholders. This paper makes a genuine contribution by providing a review of some of these major tools, spanning across a wide spectrum - framework, standards, ratings and indices. A critique of SRTs is also given. Institutional investors, governments, practitioners and individuals may find this review useful in terms of understanding the nature of different corporate SRTs. As well, it can serve as a useful reference for the development of the next generation of corporate SRTs. •Corporate sustainability reporting tools (SRTs) are categorized into frameworks, standards as well as ratings and indices.•Nature and characteristics of mainstream corporate SRTs are discussed.•Analysis shows that there are limitations with corporate SRTs.•Much needs to be done to enhance the effectiveness of SRTs.
ISSN:0301-4797
1095-8630
DOI:10.1016/j.jenvman.2015.09.010