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

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  • Parfitt, Claire

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.

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  • Parfitt, Claire, 2024. "A foundation for ‘ethical capital’: The Sustainability Accounting Standards Board and Integrated Reporting," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 98(C).
    • Handle: RePEc:eee:crpeac:v:98:y:2024:i:c:s1045235422000624
    DOI: 10.1016/j.cpa.2022.102477
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    2. Millar, John & Mueller, Frank & Carter, Chris, 2024. "Mediating ESG: Mapping individual responses to a changing field," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 100(C).

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