Sustainability reporting in Indo-Pacific countries: an integrative response to local and global frameworks

Wei Qian, Dinithi Dissanayake, Shane Leong, Sanjaya Kuruppu and Carol Tilt

Meditari Accountancy Research, 2025, vol. 33, issue 7, 157-198

Abstract: Purpose - This paper aims to analyse sustainability reporting practices and the influences of local and global norms for sustainability reporting in the Indo-Pacific region. A comprehensive sustainability reporting index is developed to benchmark company reporting against major global reporting frameworks and local frameworks. Design/methodology/approach - The content analysis was conducted on 2019/20 and 2020/21 sustainability and annual reports produced by the top 50 listed companies in four distinctive countries in the Indo-Pacific region: Indonesia, the Philippines, Sri Lanka and Bangladesh. A total of 249 reports were collected and analysed. Findings - Through the lens of Integrative Social Contract Theory (ISCT), this study reveals that issues garnering global attention, which are also included in the local standards, are most likely to be reported, especially in the social dimensions related to employee health and well-being, as well as diversity and equity. While companies are keeping up with the global standards related to sustainability issues, the presence and comprehensiveness of key local frameworks significantly influence the extent of sustainability reporting in emerging Indo-Pacific economies. However, certain aspects of reporting, such as the implementation and training of the OHS system, gender diversity in leadership and renewable energy use, are not covered by the local frameworks but receive considerable attention in corporate reporting practice. These aspects have been integrated into the ethical principles that companies consider as crucial ethical norms, or hypernorms, irrespective of local influences. Practical implications - The substantial impact of local expectations also suggests that global sustainability reporting guidelines may need to better incorporate the nuanced complexities of local or country-specific situations and challenges faced by companies. In addition, while Indo-Pacific companies are actively engaging with critical hypernorms related to workplace safety, equal leadership opportunities for women and clean energy, more attention and support are needed for equally important areas, such as age diversity and the circular economy, as companies embrace the global momentum. Originality/value - Previous research on sustainability reporting in the Indo-Pacific region is patchy in both volume and scope, which is symptomatic of limited access to data and the slower uptake of the practice in developing countries. However, the growing economic and geopolitical importance of this region means that it is an important context to explore. This research takes a cross-country approach to examining sustainability reporting in the region, aiming to benchmark company practices against global and local frameworks. It reveals an integrative approach that companies in this region have adopted to harmonise global standards with the diverse array of local reporting norms and standards.

Keywords: Sustainability reporting; Global reporting frameworks; Indo-Pacific; Integrative Social Contract Theory; Social reporting; Environmental reporting (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:eme:medarp:medar-06-2024-2540

DOI: 10.1108/MEDAR-06-2024-2540

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