Since the 1980s, the three sustainability directions, including social, environmental, and economic pillars, have guided theoretical developments and policy-making efforts worldwide. Dr Olga Golubeva at Stockholm Business School, Stockholm University, explored the potential of accounting to contribute to the three pillars framework. Olga capitalises on the ability of the accounting discipline to reflect and record organisational and social surroundings. Read More
Furthermore, Olga believes that accounting is not limited to traditional financial reporting, but includes the speeches given by company managers. This ‘managerial talk’ can be applied as a discourse to explore what is happening within organisations.
In her recent study, Olga examined 20 speeches on sustainability topics given by top managers from government organisations, NGOs, and private firms in Sweden. Aside from the traditional three pillars, she identified a new key theme within these management speeches: namely, the role of technology in sustainability.
Managers described technology both as an enabler and an obstacle to the attainment of the three pillars of sustainability. Many of them stated that technology could help to protect the environment, improve society, and foster economic growth. However, they also outlined ways that it can hinder sustainable development.
For instance, technology can be used to develop renewable energy infrastructure, optimise the usage of resources, and even prevent natural disasters. However, it can also increase carbon emissions and promote over-consumption.
When it comes to social development, technology can help to reduce poverty and provide new education opportunities. On the other hand, it can also increase inequalities between individuals and nations, spread false information through digital platforms, and provide ways to control people’s behaviour.
Within the economic pillar, although technology can support the transition to a more sustainable economy, it can also threaten the existence of certain companies, or the whole sector.
By analysing the empirical material, Olga also highlighted mechanisms that could encourage the positive use of technology for enabling sustainable development. These include measures on how technology should be governed, analysed, evaluated and disclosed.
Overall, Olga suggests that technology can act both as an enabler and an interference when trying to achieve sustainability goals. She proposes that if modern technology is utilised properly, sustainability strategies that seek environmental, social and economic benefits may be improved over time. Given its crucial impacts on sustainable development, Olga argues that technology should be incorporated into the three pillars framework.
Her insights could guide policymaking, while also inspiring researchers to upgrade the three pillars framework.
