Purpose This article aims to fill the gap by identifying the state of academic research on sustainability in environmental management accounting (EMA), presenting a synthesis of our findings, a discussion and proposals for future research. Design/methodology/approach Based on the database Scopus, the publication of 218 documents on EMA and sustainability was identified in English which was published before 2025, and bibliometric analysis was conducted. Data on the publications, journals, authors and citations were collected, double-checked and examined by applying bibliometric measures. Findings Bibliometric analysis identifies trends in EMA and sustainability research publications since 2018, one of the key concepts being the circular economy. Additionally, authors predominantly focus on the impact of EMA on environmental and financial performance. Conversely, the Journal of Cleaner Production and Business Strategy and The Environment are the most significant journals. Research limitations/implications The sample documents are restricted to the Scopus database, so some relevant articles may be overlooked. Furthermore, Bibliometric map interpretation depends on subjective estimations, which could impact the outcomes. Practical implications EMA plays an important role in fostering a balance between social welfare, environmental sustainability and economic progress. In addition, supports the transition toward a low-carbon economy and society that is more mindful of sustainability. Originality/value This research unites the relationship between EMA and sustainability, including the intellectual structure, author clusters and main themes such as green innovation and resource management, which have not been examined holistically previously.

Purpose We present an accessible method of estimating companies' potential extreme weather liabilities, which can be used by policymakers, accountants, financial analysts, lenders and others to help assess climate risks. Design/methodology/approach Applying the emerging tool of emissions-based attribution, we estimate firms' climate liabilities by proposing an innovative Gordon's growth variant model for firms' potential extreme-weather-event liabilities. Findings Using our modelling approach, high-emitting firms' exposures appear considerable, potentially 3% of market capitalisation from single events. We estimate extreme-weather-event liability growth rates, showing the challenges of economic growth (accompanied by emissions) outstripping climate damages. Research limitations/implications The study provides a novel framework that can be used to assess the cost of extreme weather (EW) events for firms. Empirical testing is left to future research. Practical implications Our novel approach to assessing climate liability costs is accessible and straightforward to use by numerous stakeholders. Governments can assess carbon cost implications for high-emitting companies and contextualise corporate value implications against societal costs during policy design when considering responsibility (and cost) assignment to emitters. Accountants and analysts can explore company value sensitivities to extreme weather phenomena, emissions estimates and evolving societal positions on climate responsibility, including litigation. This will allow markets and decision-makers to better respond to corporate emissions' regulatory or financial consequences. Originality/value We include warming intensification, allowing financial analysts, accounting and risk management professionals to explore potential event liabilities, revised emissions estimates and evolving societal positions on climate damages responsibility (including litigation). Our model enables key economic stakeholders to more effectively integrate the financial impacts of corporate emissions into their decision-making processes and avoid a disruptive transition.

Purpose This study bridges the financial and non-financial reporting (NFR) gap by incorporating externalities into accounting. It proposes a model to evaluate externalities at the transaction level and integrate them into a modified integrated reporting (IR) framework to mobilise activists' voices. Design/methodology/approach A model is developed to evaluate externalities and integrate them into an adjusted integrated reporting (AIR) framework. Six propositions for externalities accounting and reporting are formulated. Findings The study results found that reducing information asymmetry at the transaction level can foster sustainability-focused decision-making. Research limitations/implications While conceptual, the study requires empirical testing. Findings contribute to theoretical discourse and practical application in accounting and IR. Practical implications The proposed model is feasible to implement. In its simplified form, it requires monitoring input and output externality values. Originality/value This study offers a novel approach to incorporating externalities into accounting, addressing the information gap between financial and NFR.

Purpose In today’s business landscape, organizations face increasing expectations to deliver on social value goals. The finance function is under pressure to evolve from traditional reporting to actively promoting social value creation initiatives that encompass Environmental, Social and Governance (ESG), Corporate Social Responsibility (CSR) and Equality, Diversity and Inclusion (EDI). This study explores whether the finance function should limit itself to reporting on social value (the reporter role), or conversely take a leading role and transition from a compliance-oriented focus to a more active role in social value creation (the promoter role). Design/methodology/approach Utilizing a structured three-stage methodology, this research combines a literature review, interviews with senior finance experts and insights from round table sessions. The Balanced Scorecard framework is applied to structure the collected information. Findings The study results show a divided financial function, both in the literature and in practice. There are clearly proponents of limiting the finance function to the reporter role, while there are also many financial professionals who want to have the promoter role. This latter group does see a progressive model wherein finance functions can transition through three stages: reporting, integration into business partnering and leadership in social value initiatives. Research limitations/implications This study’s reliance on a limited set of academic and managerial sources may not capture the full range of perspectives on the finance function’s evolving role in social value creation. The relatively small number of participants in roundtable discussions, due to network limitations, could restrict the generalizability of findings. Future research should explore additional keywords, databases and expand participant numbers to enhance the diversity of insights. Bringing finance experts and roundtable participants together could provide a more comprehensive viewpoint on finance’s potential role as either a reporter or promoter of social value. Practical implications The study offers a structured pathway for finance functions transitioning from reporting to actively promoting social value creation. This process, structured across reporting, business partnering and leadership stages, provides finance professionals with a practical guide to expand their roles. Finance leaders may consider enhancing skills in sustainability and collaboration while addressing obstacles such as mindset shifts and compliance-focused constraints. The findings support finance functions in establishing internal dialogues on their role in social value, helping align strategic objectives with social impact initiatives to meet organizational and societal expectations. Originality/value This research addresses a key gap in the literature by offering a state of affairs regarding the position of the finance function toward the issue of social value creation in the organization. The research also offers a phased approach to those finance professionals who want to expand their role in social value creation.

Purpose Organisations, including universities, are under increasing pressure to demonstrate how they contribute to addressing the societal challenge of sustainability in the Anthropocene. This research offers insight into how university employees understand and discharge their sustainability conduct in their work context and within the framework of organisational management control systems. The paper highlights some of the challenges that arise at the point where employees and control systems intersect and the sustainability conduct of employees that follows. Design/methodology/approach The research is a case study of a UK university, with primary qualitative data collected from 36 semi-structured interviews, in addition to secondary data from publicly available reports. Findings The research identifies how personal conduct and actions drive some of the unseen sustainability controls that exist in an organisation. Additionally, the paper highlights some of the daily challenges when interacting with management control systems faced by employees in a university setting. Research limitations/implications The findings of this study would benefit developers and researchers of formal sustainability MCSs, by highlighting some of the “every day” practical challenges facing employees. There is a complex range of interlinked issues to consider when designing formal MCSs. Unseen “informal” activities and action should also be considered when researching and establishing formal sustainability MCSs. Practical implications Employees are conscious about behaving in sustainable ways and conserving resources to minimise waste, but existing formal management control systems are not consistently supporting optimum sustainability practices, decision-making and conduct. Originality/value SST (Stones, 2005, 2015) has been mobilised using the quadripartite framework and conduct analysis, revealing some of the “reasons for conduct” that precipitate sustainability acts and actions. In so doing it has highlighted how, within SST, responsibility and accountability are implicitly present. It has also contributed to the findings by helping to locate examples of how MCSs constrain, direct or enable (intentionally or not) the sustainability behaviours of employees.

Purpose Sustainability reporting has become essential for organisational transparency and accountability. However, regulatory compliance poses challenges, particularly in ensuring consistency and coherence in reporting practices. Management accounting and control systems (MACSs), designed to help organisations achieve their goals, may support efforts to meet these challenges. This paper explores how MACSs can facilitate compliance with sustainability reporting regulations, drawing on a case study of a leading French energy industry company. Design/methodology/approach Grounded in the management accounting and control literature and informed by an institutional theoretical lens, this qualitative study relies on semi-structured interviews and analysis of official sustainability documents from the case study, spanning the period 2021–2023. Findings This study sheds lights on how traditional MACSs facilitate compliance with sustainability reporting regulations. Particularly, planning, cultural, and administrative controls contribute as a strategic response to regulatory reporting demands. Within the case-study, MACSs are actively shaped to address sustainability reporting challenges, such as resource allocation, interdepartmental coordination, and system adaptation. This involves defining, educating, and vesting strategies for institutionalising MACSs to address sustainability reporting challenges. Research limitations/implications Theoretically, this study contributes to the ongoing discussion in the accounting literature about the role of traditional MACSs in supporting sustainability reporting challenges (Bezuidenhout et al., 2023; Bui and de Villiers, 2018). It demonstrates that these systems can play a foundational role in enabling sustainability reporting, even before bespoke sustainable MACSs can be institutionally embedded through specific strategies, building on and extending the findings of Carungu et al. (2021). Specifically, we extend the application of the Malmi and Brown (2008) framework by showing how planning, administrative, and cultural controls are selectively mobilised to meet the demands of sustainability-related disclosures. Additionally, by integrating Lawrence and Suddaby’s (2006) institutional work perspective, we highlight how actors engage in strategies to create, maintain, and disrupt control systems, thus advancing research at the intersection of institutional theory and sustainability control practices. This dual-theoretical contribution addresses the gap identified in prior studies, which have called for deeper insights into how MACSs evolve under regulatory pressure. Practical implications From a practical perspective, the findings offer actionable guidance for organisations facing regulatory complexity and seeking to improve their sustainability reporting practices. Integrating financial and non-financial data within existing MACSs can enhance transparency and support regulatory compliance. Particularly in organisations subject to sustainability reporting regulations (e.g. CSRD), our findings provide a practical framework to assess and redesign MACSs. By identifying how specific control elements can be adapted or newly introduced to meet reporting obligations, we offer a roadmap for aligning internal systems with external compliance requirements. Moreover, organisations can use MACSs to monitor sustainability performance, align reporting with financial controls, and promote cross-functional collaboration to ensure data reliability and consistency. Social implications Social implications of our research extend to broader conversations surrounding corporate accountability. As organisations increasingly embrace sustainability reporting as a way to communicate their environmental and social impact, findings from our study contribute to fostering greater transparency and trust between organisations and society at large. Originality/value This research provides insights into how MACSs support compliance with sustainability reporting regulations. By focusing on a French energy sector leader, it provides a nuanced understanding of how organisations manage the complexity of sustainability reporting in a tightly regulated environment. It also contributes to the academic discourse by examining how MACSs support organisations in meeting sustainability reporting regulations– even though recent literature often emphasises the need for more innovative approaches.

Purpose This study examines the impact of digitalisation on firm value, financial performance, and sustainability, with a focus on green initiatives among listed firms in Vietnam. Design/methodology/approach The research analyses 100 of the largest listed companies on the Hanoi and Ho Chi Minh stock exchanges as of December 31, 2023. A Generalised Method of Moments (GMM) regression model assesses the effects of digitalisation on firm value, profitability, and sustainability from 2014 to 2023. Findings Digitalisation enhances firm value, profitability, and green initiatives, reinforcing its economic and environmental role. However, the COVID-19 pandemic weakened its effectiveness, highlighting the need for resilient digital strategies. Its impact varies by firm size, with stronger financial performance effects in smaller firms and greater sustainability benefits in larger firms. The results also reveal a short-term impact on firm value and nonlinear effects on financial performance and green initiatives. Research limitations/implications This study reaffirms the multidimensional role of digitalisation in enhancing firm value, profitability, and sustainability. It provides a foundation for future research on long-term digitalisation effects across different economic and regulatory contexts. Practical implications Firms should align digitalisation with sustainability goals to maximise financial and environmental benefits. Policymakers should develop regulatory frameworks that support digital adoption for sustainable development. Investors may see highly digitalised firms as promising sustainable investments. Originality/value This study is among the first to explore the interplay between digitalisation and sustainability in an emerging market, using comprehensive data up to 2023. It provides empirical evidence on how digital transformation fosters corporate sustainability and economic growth, particularly in Vietnam’s evolving regulatory and business landscape.

Purpose The study aims to explore the role of sustainability reporting in strategic management. It examines how sustainability reporting affects strategy implementation (single-loop learning) and strategy formulation (double-loop learning). Design/methodology/approach Using a case-study methodology, 22 semi-structured interviews were conducted at a large mining company. Additionally, secondary data, including the company’s sustainability reports from 2018 to 2023, were gathered. A thematic data analysis was used. Findings The study shows that sustainability reporting contributes to strategic management. More specifically, sustainability reporting facilitates strategy implementation (single-loop learning) by identifying deviations, prescribing actions and clarifying responsibilities. Moreover, it facilitates strategy formulation (double-loop learning) by supporting materiality analysis and external benchmarking, identifying strategic uncertainties and reassessing and adjusting the strategy. Research limitations/implications This case study is exploratory. While NordMine represents a unique case, it is possible that studying a different company would result in different insights. Therefore, future longitudinal case studies are suggested to build on and further develop the findings presented in this paper. Practical implications The findings originate from a resource-intensive company that is at the forefront of sustainability transition and has recently reformulated its strategy toward sustainability. The study provides detailed insights into how sustainability reporting can be used by practitioners in different industries to facilitate strategic management, for example, by identifying sustainability key performance indicators and improving their follow-up. Originality/value The study contributes to the literature by problematizing the link between sustainability reporting accounting and strategic management. It shows how sustainability reporting affects processes and activities that are usually considered to be related to strategy formulation (interactive control) and implementation (diagnostic control).

Purpose We investigate whether environmental, social, and governance (ESG) disclosure and board gender diversity (BGD) affect the firm value for a sample of French non-financial listed firms during the concurrent enactment of French CSR and BGD quota laws. Specifically, we investigate whether ESG disclosure is positively associated with firm value, examine the impact of BGD on firm value, and explore whether reaching a critical mass of female directors (three or more) further enhances firm value. Design/methodology/approach Drawing upon agency theory, resource dependence theory, and critical mass theory, we develop our study hypotheses. We apply Generalized Method of Moments (GMM) multivariate linear models to 900 observations during the period 2011 to 2019 to reach empirical findings while addressing endogeneity concerns. Findings Our findings indicate that ESG score positively influences the firm value (Tobin’s Q), whereas BGD has a negative impact. Moreover, BGD positively affects the firm value when the number of women directors reaches a threshold of five, supporting the critical mass theory perspective. Research limitations/implications Our study focuses solely on France, limiting generalizability due to its unique regulatory environment, yet emphasizing the importance of considering diverse regulatory contexts in future research. Practical implications The study offers insights for corporate management to address stakeholders’ growing demands to disseminate a greater volume of ESG information, comply with women’s quota systems, and appoint experienced and talented female directors to ensure effective governance, rather than symbolically increase female representation in boardrooms. Social implications The study informs regulators and policymakers on promoting ESG disclosure practices and establishing guidelines for achieving an optimal number of qualified women directors to maximize governance effectiveness. Originality/value The study enhances stakeholders' understanding of how ESG disclosure and BGD influence firm market value, with a specific focus on the implications of the Copé-Zimmermann law and French CSR regulations.