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Factors to be Reported for Sustainability Reporting in Indian Chemical Industry ? The Way Industry Thinks

Journal: International Journal of Accounting and Financial Management Research (IJAFMR) (Vol.3, No. 5)

Publication Date:

Authors : ; ;

Page : 11-24

Keywords : Sustainability; Sustainability Reporting; Human Aspect; Social Aspect; Natural Aspect; Economic Aspect and Financial Aspect;

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Caring for the environment has carved out a niche in the world culture. Corporate citizens have become aware and concerned of environmental, social and economic performance and their reporting to their stakeholders. Sustainability accounting and reporting has become a social discipline nowadays and cannot thrive in a vacuum. It has been enriched with various guidelines and standards. The sustainability reporting for Indian Chemical Industry is still at nascent stage but it can be used as a strategic weapon that will lead to prosper the industry through brand equity and goodwill. The approach of sustainability reporting is voluntary and has not been standardized by any statute of the state. The basic factors of reporting and their guidelines are there but a common framework is necessary. This paper focuses on what the Chemical Industry thinks about the factors to be reported through a consensus approach and tries to get a confirmation from the Indian Chemical Industry of the factors and the sub factors to be reported while reporting their performance on sustainability.

Last modified: 2013-12-03 20:48:17