Increased sustainability initiatives among the largest Canadian firms: Routine, strategic or board oversight

Using a multi-theory framework, we analyze why there is a difference in reporting between firms in their number of sustainability indicators. Firms not only need to earn profits but also contribute to the well-being of society and the environment. A firm’s corporate social responsibility (CSR) activities as visible from its sustainability reporting disclosure help it in various ways such as gaining greater legitimacy among its stakeholders, improving its competitive advantage (Grant et al., 2015), attracting talent (Turban & Greening, 1996), reducing risk (Godfrey et al., 2009), etc. Formal sustainability reporting has been available for over two decades and is no longer considered novel. However, the diversity and details in their reporting differ among these firms