ABSTRACT
Business fundamentals in market economies all over the world, when all is said and done, are about profitability. However, the strategies for long-run competitiveness and business prosperity are more intricate today because of an increasing focus on sustainable development, with more and more demands and claims from consumers and governments on corporate social responsibility (CSR). Corporate governance has gradually been more and more integrated into external stakeholder's values, governmental regulation, and economic instruments. Sustainability and CSR reporting, covering economic, environmental, and social impacts caused by corporate activities, has expanded over the last two decades. Examples of this are the Global Corporate Sustainability Reporting and the Global Reporting Initiative. There are also online directories of corporate responsibility reports, such as the CorporateRegister.com. It is in particularly notable when the World Business Council for Sustainable Development (WBCSD) addresses public policy options to scale and accelerate business actions for a sustainable world.
