Beyond Compliance: Integrating ESG Accounting into Corporate Reporting for Transparent Stakeholder Value

Abstract

 This research aims to discuss sustainability aspects which will be implemented by Environmental, Social and Governance (ESG) Accounting in Corporate Reporting Process. It gives an understanding of the implications of this integration, challenges and opportunities that could arise, and how this impacts stakeholder engagement, accountability and transparency in the business world. For the present study, the method of literature search adopted is qualitative which involves, deep search of scholarly database, scholarly journals and other relevant publications. As a collector you wish to read the literature that you have selected (according to some criteria) and to critically analyses it, to find themes and ideas that you will need for your research. The results of the study highlight the growing companies' understanding of the importance of sustainability reporting. While there are many positive aspects, there are some sustainability reporting challenges that can mitigate the impact of sustainability reporting such as sustainability reporting data quality and consistency, and integration of sustainability in business decisions. However, the challenges from companies should be tackled in three ways: establishing integrated reporting systems, legal compliance and enhanced company-stakeholder relationships and technological innovations, the survey adds. All of these would be good for the company's reputation, its risk management and engagement and would help to maximize the value of being transparent and accountable in disclosure.