A foundation for ‘ethical capital’: The Sustainability Accounting Standards Board and Integrated Reporting

Claire Parfitt

CRITICAL PERSPECTIVES ON ACCOUNTING, 2024, vol. 98, issue C

Abstract: What purpose does ESG accounting really serve? As the “alphabet soup” of sustainability accounting standards thickens with the growing interest in ESG investing, this article looks beyond the usual critiques of social and environmental accounting to reveal how these new standards are productive for capital. Analysing the work of the SASB and the International Integrated Reporting Council (IIRC), the article shows that accounting for ESG is more than the smoke-screen or green-washing exercise that critical voices often observe. By mapping, quantifying and coding social, environmental and political issues to be incorporated into capital’s valuation regime, ESG accounting standards establish a technical and rhetorical basis upon which ethical claims can become productive for capital, regardless of whether or not these ethical claims translate into any practical difference in business operations and their socio-ecological impacts.

Keywords: Sustainability; Ethics; Financialisation; Investing (search for similar items in EconPapers)
Date: 2024
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:crpeac:v:98:y:2024:i:c:s1045235422000624

DOI: 10.1016/j.cpa.2022.102477

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