摘要：Indian industries in the context of environmental protection do not have clear policies at the national orindustrial level in order to ensure compliance to environmental norms. Thus, there is a growingconcern for Indian industry to comply with the environmental reporting with regard to environmentalprotection. To address this gap, this paper proposes a framework which can be very effective todevelop strategies for Indian industries environmental legal framework with regard to environmentalprotection. Researchers have understood the linkage based on extant literature review which issupported through ISM and MICMAC joined with the inter-relationship between the varied elements.Our study is unique and innovative as we have focused on exploring the different effects of therelationship between environmental accounting, industry and sustainability. The framework proposedin this paper can be utilized to develop strategies towards sustainable development which are focused,practical and effective. The primary challenge of environmental accounting legal framework is theabsence of standards in identifying all that needs to be measured and deciding how it is to bemeasured. The conclusion drawn from the ISM hierarchy shows a high interrelationship andinterconnectivity between GRI and CERES for sustainability reporting. Environmental awareness andenvironmental accounting leads to sustainable reporting.
