Corporate Sustainability Managing Responsible Business in a Globalised World

This chapter presents and discusses key developments in corporate sustainability reporting (CSRep). It shows that the nature of CSRep and its governance have been subject to fundamental changes over the last decades. The chapter introduces students to the rationales for and challenges to companies’ engagement in CSRep. At its core, the chapter explores different alternatives for governing CSRep, distinguishing between voluntary standards and legally binding measures such as disclosure requirements by governments and stock exchanges in European and other countries. Particular attention is given to the most widely used standard for CSRep, the Global Reporting Initiative (GRI) Standards, and the concept of materiality. Finally, countries and industries in which reporting has become a more institutionalised practice are described in more detail.