Review of Sustainability Reporting Tools for Corporations (SRTs)
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Abstract
Companies all around the globe are adopting sustainability reporting more and more in response to stakeholder demands for more openness on social and environmental concerns. The growth of many tools over the last 20 years, such the Carbon Disclosure Project (CDP), AA1000, and Global Reporting Initiative (GRI), is proof of the appeal of this kind of reporting. Together, these instruments are known as corporate sustainability reporting tools (SRTs), and they are crucial because they help companies track their progress toward sustainability objectives. However, stakeholders now face significant challenges as a result of the corporate SRTs' quick expansion and disparate criteria and methods. By reviewing some of these important tools, which cover a broad range, including frameworks, standards, ratings, and indexes, this study really contributes. Additionally, a criticism of SRTs is provided. Governments, practitioners, institutional investors, and people may find this overview helpful in comprehending the characteristics of various corporate SRTs. It may also be a helpful guide for creating the next generation of corporate SRTs.
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