Analysis of corporate sustainability reports using text mining

Abstract

The entire concept of sustainability came into focus when companies realized that the survival of the human race is dependent on continued health and viability of the earth’s life support system. The most widely used definition of sustainable development is from the 1987 Brundtland report, which states that “it is a development that meets the needs of the present without compromising the needs of the future generation.” The report indicated that economic inequalities present in, society would lead to over-exploitation of resources. Although economic growth is essential for, poorer countries, this should not follow a pathway that leads to environmental destruction. Hence it was decided to create regulatory bodies to address the current environmental and development problems and be prepared for the long-term challenges of sustainability in the future. In our report, we have mainly focused on the GRI Reporting Standards that was launched in 2000. It helps all companies, governments, and organizations to communicate their contribution in dealing with critical issues like climate change, corruption, and human rights. Under this reporting, companies are expected to publish a sustainability report (also called CSR or ESG report) where they have to show their environment, economic, and social impacts. GRI reporting is widely used by several organizations, governments, NGOs in more than 90 countries including India.