Convergence of global sustainability reporting standards: Need of the hour
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Dosyalar
Tarih
2022
Yazarlar
Dergi Başlığı
Dergi ISSN
Cilt Başlığı
Yayıncı
İstanbul Ticaret Üniversitesi
Erişim Hakkı
info:eu-repo/semantics/openAccess
Özet
A single and uniform reporting on sustainability is the need of the hour that will communicate every domain of the performance of the reported company. At present different patterns and forms of sustainability reporting practices are followed throughout the globe. The firms involved in the practice are confusing and trying to leverage some of the standards that have been developed by groups like the Sustainability Accounting Standards Board, the Global Reporting Initiative, the International Integrated Reporting Council, the Climate Disclosure Standards Board and the Carbon Disclosure Project. These organizations that are involved in the setting of the global standards relating to sustainability reporting have expressed their intention to work jointly to develop uniform sustainability reporting standards. This initiative is expected to serve as a beacon of things to come, given the premise of adapting the International Financial Reporting Standards (IFRS) and the conceptual framework to sustainability related financial disclosures. In this context, this study considers all the present practices of sustainability report throughout the globe and tries to establish the need for convergence of the diversified practices and adopt a unified and globally accepted sustainability reporting practice. In this challenging and fast-changing sustainability reporting landscape, the most notable occurrence is the speeding up of the initiatives for converging all the existing practices of sustainability reporting into a single and uniform sustainability reporting practice. It is believed that the initiatives for converging of the reporting pattern will be directed toward the end goal of a unique and global standards for sustainability disclosure.
Açıklama
Anahtar Kelimeler
Convergence, Reporting, Sustainability, Reporting Standards and Framework
Kaynak
International Journal of Commerce and Finance
WoS Q Değeri
Scopus Q Değeri
Cilt
8
Sayı
1
