Environmental, Social, and Governance (ESG) Standards in Accounting
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The contemporary business landscape is rapidly evolving, driven by a growing awareness and recognition of the broader impacts organizations have on the environment, society, and governance structures. This awareness is increasingly reflected in the financial accounting realm through the integration of Environmental, Social, and Governance (ESG) standards. These standards encapsulate a holistic approach to sustainable business practices, ensuring that organizations are not solely profit-driven but are also responsible corporate citizens. ESG standards offer a framework for companies to report on their environmental stewardship, social responsibility, and governance practices alongside traditional financial reporting. This integration reflects a shift towards more transparent and accountable business practices, fostering trust among stakeholders and meeting the regulatory requirements that are progressively embracing sustainability.
ESG Reporting; Financial Accounting; Sustainable Business Practices; Stakeholder Engagement