Between sustainable regulation and sustainable eco-accounting

Abstract

The issuance of international accounting standards related to the topic of sustainability (weak concept) allows us to compare the spirit of these regulations with alternative theoretical developments based on sustainability (strong concept). This article aims to describe the frameworks and standards formulated by accounting trends anchored in the interests of large capital, compared to alternative constructs proposed by heterodox academia, a sustainability based on the defense of biodiversity and multiculturalism. From an unorthodox perspective, it is necessary to assess whether the concepts described can be complementary or are necessarily mutually exclusive and antagonistic. The frameworks for sustainability reports, integrated reporting, and sustainability-related standards issued in the United States, Europe, and internationally must be contrasted with the proposals for accounting theory and practice that have emerged from heterodox academia and emerging research. These proposals seek to diminish the power of financial organizations that have co-opted and euphemized the language of socio-environmental responsibility, the protection of life, and the safeguarding of ecosystem wealth. The scope of this document is referential and descriptive, but it intentionally calls for critical reflection on the role of the regulator and the necessary independence of the preparer of organizational information, understood as a critical, autonomous, and ethically committed professional.