Page 203 - SUSTAINABILITY ISSUES & COVID-19

The author also analyzes the Sustainability Report’s weaknesses, which is challenging to be used as a comparison tool
between companies because there is no single standard that can represent the performance of Sustainability Accounting
in the aggregate. One way to motivate companies to implement sustainability accounting is to take advantage of the
company’s instinctive nature, which is always competing to prove its superiority compared to its competitors. Based
on this, we recommend a solution in the form of a Sustainability Index that utilizes Artificial Intelligence capabilities.
External and internal companies can use this index in assessing how far the company is implementing its sustainability
strategy.

Previously, several indexes were triggered, but still had many weaknesses. Therefore, the authors bring a solution
by utilizing Artificial Intelligence technology to produce a universal standard measure of sustainability that can
overcome the previous index problem. This index can later become a proving ground for a company to maintain its
business continuity in the long term and influence its current valuation. The index produces from processing and
comprehensive analysis of variants contained in the Sustainability Report, which can then rely on as a comparison tool
for the sustainability performance of each company. This index will then motivate the company to give its best efforts
if it wants to get a proper Sustainability Index score.

ORIGINALITY/VALUE

Like companies that fail to keep up with technological developments, companies that are unable to move towards
sustainable development will be left behind and defeated by companies that can elaborate on sustainability accounting.
Companies should be able to see the costs incurred for this effort as an “investment” for more enormous benefits. Even
so, the company’s motive in carrying out sustainability accounting must still interpret with sincerity that this effort aims
at something more magnificent than business profitability alone. The implementation of this sustainability strategy
becomes a form of the company’s contribution to improving social welfare and environmental preservation.

Keywords:
Sustainability Accounting, Sustainability Report, Sustainability Index, Corporate Sustainability Strategy, and
Investment.

JEL Classification
JEL: M41

202 International Conference on Sustainability
(5 Sustainability Practitioner Conference)
Th