13DEVELOPMENT AND ANALYSIS OF THREE SUSTAINABILITY INITIATIVES
Background
Justification for sustainability reporting pertains to “stakeholder theory,” which asserts that the management of corporations should consider the interests and concerns of its diverse stakeholders, including any individual or entity that affects or is affected by the corporation’s actions (Corplaw 2013). The stakeholders consider employees, community, consumer groups, and government in their actions and performance. Put differently, corporations ought to be responsible to society, not just to their shareholders and investors (Carroll 1991; Freeman 1984, 1994). That mission should be pursued even if profits decline as a result. In the long run, advocates ...
