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ABSTRACT
The concept of sustainable development has emerged as a key guiding principle and action agenda for all forms of environmental management, economic development and social justice. The much professed "triple bottom line" TBL (Financial, Social, and Environmental) has its proponents and detractors who argues whether holding corporations accountable to economic prosperity, social justice, and environmental quality, constitutes progress. International businesses often have improved performance when they include their social, ethical and environmental responsibilities in business planning - their corporate and social responsibility. The "value" concept and sustainability is all the more relevant today when the world economy is reeling in deep economic crisis. This research is an attempt to explore and explain Sustainability Performance Measurement (SPM) based on environmental values and indicators (Energy, Water, Emission, Water, and Recycling) that is measuring the immeasurable and that has implications and consequences for corporate governance in particular, and more generally for the economy, business and society. The study used a qualitative exploratory approach, using a mix investigative and content analysis as research strategy to develop insight into sustainability performance measurement practices of Corporations. The scope of this study extended to large number of Corporations leading in sustainability practices and not limited to any geographical region. The study found significant inconsistencies and gaps among company data undermining the comparability of this information as Corporations approach reporting in differing ways. This is of importance to policy making, lack an accurate picture of the landscape, particularly acute in areas such as climate change, that are of rapidly increasing importance in terms of value creation and integration. The issue of sustainability poses a value proposition that is inflicted by a measurement challenge. The challenge is to redefine the conventional economic system that is designed to avoid paying for any external (environmental and social) cost. The paradigm shiftwould require harnessing the financial firepower of global corporations to create a robust incentive structure and integrated approach through value creation. A strategic model is proposed for value creation and effectively measuring in integrated sustainability performance.
Keywords: Sustainability Performance Measurement (SPM), Corporate Social Responsibility (CSR), Compliance and Reporting.
INTRODUCTION
"If you can't measure it, you can't manage it" Peter Drucker
The beginning of 21st century ushered in a new era in corporate strategy and...