The Importance of Measurement and Accounting in Achieving Sustainability

• In Event: Topics in Sustainability and Social Responsibility

Abstract

There is increasing attention on the part of society and business to the importance of achieving sustainability. In order to achieve a goal of sustainability, it is crucial to utilize meaningful measures to guide actions and measure success. Using the correct measures can motivate the correct actions, clarify progress, and indicate where further work needs to be done. While using the wrong measures can motivate the wrong actions, inaccurately indicate progress, and even impede progress. In a January 26, 2013 Wall Street Journal essay titled “My Plan To Fix The World's Biggest Problems* *Measure Them!,” Bill Gates advocates for the importance of using proper measurement techniques in order to help solve the world’s problems. In this essay, Bill Gates states, “I have been struck by how important measurement is to improving the human condition. You can achieve incredible progress if you set a clear goal and find a measure that will drive progress toward that goal.” (Gates 2013) This paper examines the current state of sustainability reporting, the development of key performance indicators, and the importance of such reporting.

Author

• Denise Guithues Amrhein, Saint Louis University