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The Influence of Buddhist Philosophy on Sustainability Reporting in Sri Lanka

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New Horizons in Management, Leadership and Sustainability

Part of the book series: Future of Business and Finance ((FBF))

Abstract

The study explores the influence of Buddhist philosophy as a motivator for sustainability reporting (SR) by companies, in a developing country setting. The data were collected through semi-structured interviews with managers of listed and non-listed companies in Sri Lanka, a country ingrained in Buddhist philosophy for over two and a half millennia. The findings indicate that corporate social responsibility has been practised in Sri Lankan society since ancient times. The beliefs, thinking patterns and mindset of listed and non-listed company managers, born and raised under Buddhist background, is heavily influenced by Buddhist teachings of ‘kamma’, rebirth, conservation, empathy and social sustainability. Evidenced in the study is the translation of personal values to corporate values as the motivation for sustainability projects and SR. Contrary behaviour demonstrated by a large conglomerate and a subsidiary of a multinational company indicated that these companies did not appreciate the local values and beliefs inspired by Buddhist philosophy.

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Notes

  1. 1.

    ‘Sustainability report is a report published by a company or organization about the economic, environmental and social impacts caused by its everyday activities. Sustainability reporting can be considered as synonymous with other terms for non-financial reporting; triple bottom line reporting, corporate social responsibility reporting, and more’ (GRI 2020, p. 1).

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Author information

Authors and Affiliations

  1. Department of Accounting, Monash Business School, Monash University, Clayton, Australia

    Prabanga Thoradeniya

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  1. Prabanga Thoradeniya
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Correspondence to Prabanga Thoradeniya .

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Editors and Affiliations

  1. School of Business, Woodbury University, Burbank, CA, USA

    Satinder Dhiman

  2. Department of Management, Monash University, Clayton, VIC, Australia

    Ramanie Samaratunge

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Thoradeniya, P. (2021). The Influence of Buddhist Philosophy on Sustainability Reporting in Sri Lanka. In: Dhiman, S., Samaratunge, R. (eds) New Horizons in Management, Leadership and Sustainability. Future of Business and Finance. Springer, Cham. https://doi.org/10.1007/978-3-030-62171-1_27

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