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Developing a sustainability accounting framework to inform strategic business decisions: a case study from the chemicals industry

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  • James R. D. Taplin
  • David Bent
  • David Aeron‐Thomas

Abstract

Forum for the Future worked in partnership with a division of a blue‐chip chemicals company (‘ChemCo’), to develop a framework for sustainable business decision‐making. The supply chain impact framework was used to produce a six‐stage analysis that allowed the assessment of ChemCo's operations and products on key stakeholders and contributed to key strategy setting and innovation processes. Of most significance to ChemCo were the final two sustainability accounting stages of this work, which found that the external environmental benefits of one of its products in use (a refrigerant lubricant) were eight times greater than the external environmental costs produced by the entirety of ChemCo's operations. These findings helped inform ChemCo's future economic, social and environmental sustainability strategy, whilst the action of conducting the research fostered greater communication and understanding between different sections of the business, developed new data collection and management processes and helped embed sustainable development objectives throughout the organization. Copyright © 2006 John Wiley & Sons, Ltd and ERP Environment.

Suggested Citation

  • James R. D. Taplin & David Bent & David Aeron‐Thomas, 2006. "Developing a sustainability accounting framework to inform strategic business decisions: a case study from the chemicals industry," Business Strategy and the Environment, Wiley Blackwell, vol. 15(5), pages 347-360, September.
    • Handle: RePEc:bla:bstrat:v:15:y:2006:i:5:p:347-360
    DOI: 10.1002/bse.542
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    1. World Commission on Environment and Development,, 1987. "Our Common Future," OUP Catalogue, Oxford University Press, number 9780192820808.
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    1. Gray, Rob, 2010. "Is accounting for sustainability actually accounting for sustainability...and how would we know? An exploration of narratives of organisations and the planet," Accounting, Organizations and Society, Elsevier, vol. 35(1), pages 47-62, January.
    2. Lueg, Rainer & Radlach, Ronny, 2016. "Managing sustainable development with management control systems: A literature review," European Management Journal, Elsevier, vol. 34(2), pages 158-171.
    3. Ricardo Vinícius Dias Jordão & Edson Pinto Ferreira & José Antônio Sousa Neto, 2018. "Financial disclosure and social environmental responsibility: An empirical study on the Brazilian market," Contaduría y Administración, Accounting and Management, vol. 63(2), pages 19-20, Junio.

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