The evolution of sustainability accounting and reporting in the United States: applications of the ecological anthropology and industrial ecology frameworks

Abstract

PurposeThe primary objective of this research is to chronicle how the Environmental Protection Agency (EPA) and other United States Federal Government Agencies (USFGA) agencies have played a role in shaping the trajectory of financial reporting for sustainability, with a particular emphasis on triple bottom line (TBL). This exploration extends to other indexes reporting sustainability data encompassed within financial, social and environmental reporting.Design/methodology/approachThis study adopts an illustrative methodology, utilizing data sourced from governmental, business and international organizational documents.FindingsSustainability accounting predominantly finds its place within the framework of TBL. However, it is crucial to note that sustainability reporting remains voluntary rather than mandatory. Nevertheless, accounting firms and professional accounting societies have embraced it as a supplementary facet of financial accounting reporting.Originality/valueThe research highlights the historical evolution of sustainability within the USFGA and corporate entities. Corporations’ interest in accounting for sustainability performances has significantly contributed to the emergence of voluntary sustainability accounting rules, as embodied by the TBL.