Proceedings of 29th International Business Research Conference
24 - 25 November 2014, Novotel Hotel Sydney Central, Sydney, Australia, ISBN: 978-1-922069-64-1
Sustainability Reporting for Sustainable Development: A
case for East Africa Economies
Stanley Machuki
Eastern Africa is one of the fastest growing regions in the world experiencing
enormous economic growth. This development has come at a time when a global
focus on sustainable development is on the rise to ensure that organisations and
business do not only prosper financially but also in social and environmental
ethical terms. In regard to this major initiatives have been developed to ensure
sustainable developments such as the renowned Global Reporting Initiative.
Whereas sustainability reporting is mainly applied under Global Reporting Initiative
framework implying it is a global thing the practice has not been translated
globally. Good practice and reporting has mainly been recorded in economically
advanced nations with little sustainability reporting being noted in most developing
nations. This paper therefore seeks to advocate for increased comprehensive
corporate reporting to match the rate at which businesses are growing in the
developing nations as this is will be a be a milestone towards achieving
sustainable development.
The paper is based on research from developing economies of Eastern African
Countries that are slowly adopting sustainability reporting initiative amid their
rapidness in developing. The countries have greater potential for development as
they continue to experience the discovery of more natural resources like oil among
other major valuable resources both locally and in the International arena. It is
argued in this paper that there is need to increase the level of sustainability
reporting by businesses in the region to match the development rate. This will in
turn translate to greater transparency and accountability which will foster greater
sustainable developments not only in the region but also globally.
Key words: Sustainability reporting, sustainable development, business
development, economic growth and developing nations.
Research Field: Sustainable Business and Economic Development
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Stanley Machuki, Masters in Environment Management & Sustainability, University of South Australia,
Kenya, Email: stanley7muchiri@gmail.com