iarjbmIARJBMIARJBM2708-514710.47310/iarjbm.2021.v02i01.061Sustainability Accounting and Reporting-A Situation Analysis of HPCLK.V.RameshRaviPrakashAchantaInstitute of Public Enterprise, Hyderabad, Telangana, IndiaSikkim University, Gangtok, Sikkim, IndiaThe 2020 World Economic forum at Davos was significant in a way that climate change and sustainability accounting became the dominating agenda for the gathering. It was quite evident that the concern on climate, which laterally touched the corporate in the past, has now become mainstream. The most important issue for everyone to understand a business is accounting and in the contemporary days of global accounting, reporting on non-finance areas is the key reporting towards accountability of an enterprise. Public sectors are accountable not merely to shareholders but to the stakeholders as well. Accounting on sustainability enables organizations to communicate to the stakeholders its goals and to ascertain what they are pursuing to accomplish. It is the businesses connect to the society. Thereby scope of accounting is widened to include financial details and also non-financial details. Traditionally in the preparation of Financial statements of a corporate included Income and Expenses reflected in profit and loss statement, Assets, Equity and Liabilities shown in Balance sheet and Cash flow statement. In this paper HPCL has been considered and the authors reveal that HPCL is transparent and consistent, when it comes to sustainability reporting. It is very imperative that Sustainable accounting is not a regulatory or statutory obligation but a social commitment of the corporate towards the country and consumes the resources therefore it is largely dependent on the commitment levels of the corporate. Sustainable accounting involves Integrated thinking, reporting and sustainability. Sustainability accounting goes beyond disclosures.