A Brief Note On Sustainability And Accounting Reporting Essay

764 Words Apr 23rd, 2016 4 Pages
Sustainability and accounting reporting began when companies had to become more transparent about their environmental impact. The majority of corporate non-financial reporting was included in their annual financial statements and concentrated on human resources and employee relations. For instance, in 1982 US Steel Corporation early financial statements documented worker housing, community development, worker safety and mortgage assistance to their employees. The real jump start to sustainability reporting was politics and environmental disasters that deeply impacted a company 's financial outlook. In the 1960’s into the 1970’s the main social issues were women’s rights, racial equality and world peace, this led companies to focus more on social reporting. A survey done by Ernst & Ernst on social reporting showed that only 1% of Fortune 500 companies provided separate social reporting documents with annual reports. Countries that had more conservative politics and less attractive economies especially lacked interest in social and environmental problems. During the 1980’s the United States was in a recession which intern pushed social reporting aside to focus on major economic issues. Despite the decline in social reporting, Ben and Jerry’s and Patagonia Clothing started to push social and environmental concerns to the forefront, which gave viability to social reporting.
Environmental reporting really began when companies began to containment our world and greatly affect…

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