Evolution of Sustainability Accounting across four countries

Abstract

Gaining a comprehensive understanding of how accounting practises, regulatory requirements, and reporting standards include sustainability considerations is crucial for comprehending the impact of accounting regulations on sustainability accounting. The comprehension of how accounting standards incorporate sustainability accounting might potentially influence company transparency, accountability, and the adoption of sustainable business practises. The present work utilises a case study methodology to conduct comprehensive analysis of specific situations. The research will centre its attention on Australia, Canada, Germany, and India as the selected countries for analysis. The selection of these countries was based on their distinctive geographic locations, level of economic growth, and pre-existing sustainability accounting and regulatory frameworks. India, as an emerging economy, demonstrates a strong commitment to upholding ethical business practises and promoting sustainability. Australia possesses a comprehensive collection of established accounting standards, alongside a structured framework for the purpose of sustainability reporting. Germany places a great degree of importance on sustainability, environmental preservation, and good governance. Canada was selected due to its diverse set of regulations pertaining to corporate social responsibility and environmental practises. The case study findings offer significant insights regarding the alignment between the incentives for sustainable accounting in different countries and theoretical frameworks. When considering the adaptation of reporting rules to the specific circumstances of each country, it is important to emphasise the need of adhering to local legislation, while also acknowledging the difficulties associated with implementing such procedures.