Which international frameworks can be adopted by organisations to identify important aspects of sustainability?

Question

BlackTom AI · Accepted Answer

Exploring the question about international frameworks organisations can adopt to identify important aspects of sustainability, we need to evaluate what each option represents.
Option 1: 'Sustainable Development Goals and International Financial Reporting Standards' combines SDGs with IFRS. While SDGs are indeed a global framework for sustainability priorities, IFRS is primarily a set of accounting reporting standards. It is not a framework used to identify sustainability aspects in the managerial sense, so this pairing is not appropriate for identifying sustainability aspects in organizational practice.
Option 2: 'International Financial Reporting Standards and Triple Bottom Line' pairs IFRS with the Triple Bottom Line concept. Again, IFRS is an accounting framework, not a sustainability-issues framework, and the Triple Bottom Line (TBL) focuses on social, environmental, and economic dimensions. The combination misses aligning a recognized sustainability-framework focus with identifying sustainability aspects in a systematic way, making this option not ideal.
Option 3: 'Triple Bottom Line and Sustainable Development Goals' merges the TBL approach, which emphasizes three pillars (people, planet, profit) for assessing organizational impact, with the SDGs, which provide a comprehensive set of global sustainability objectives. This pairing directly relates to identifying and prioritizing sustainability aspects within an organization by considering multiple dimensions and globally recognized goals, making it a coherent and appropriate combination.
Option 4: 'All of the above' would imply that IFRS also serves as a framework for identifying sustainability aspects alongside SDGs and TBL. Since IFRS does not function as a core sustainability-identification framework, this option would misrepresent the purpose of IFRS and is therefore inaccurate.
In summary, the third option aligns best with the concept of identifying important sustainability aspects by integrating a multi-dimensional assessment (TBL) with globally recognized targets (SDGs), whereas the other options pair sustainability-focused frameworks with IFRS, which is not primarily a sustainability-identification framework.

LC Decision Making & Control 32181 Week 9 Quiz: Accounting and Society

Which international frameworks can be adopted by organisations to identify important aspects of sustainability?

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