Philosophical foundation and Accounting Thought on Implementation of The Triple Bottom Line in Indonesia

Abstract : The Triple Bottom Line, introduced by Elkington in the mid-1990s, has achieved widespread institutional legitimacy, becoming embedded in corporate reporting standards, regulatory frameworks, and business school curricula globally. However, despite this proliferation of TBL rhetoric, corporate behavior has not substantively changed, particularly in emerging economies such as Indonesia. This study examines the philosophical foundations and accounting thought underlying the implementation of TBL in Indonesia, addressing the persistent gap between sustainability rhetoric and corporate practice. Employing qualitative content analysis within an interpretive paradigm, this library research synthesizes theoretical frameworks from stakeholder theory, legitimacy theory, and institutional theory to understand how Indonesian corporations conceptualize and operationalize TBL dimensions—economic (profit), social (people), and environmental (planet). The analysis reveals that Indonesian TBL implementation is characterized by symbolic adoption driven by institutional pressures rather than substantive ethical commitment, reflecting organized hypocrisy in sustainability reporting. Philosophical examination through eudaimonic ethics and critical accounting perspectives demonstrates that authentic TBL implementation requires transcending instrumental rationality toward inclusive profitability notions that integrate stakeholder well-being. The study identifies five critical challenges: rhetoric-practice gaps, weak integration of philosophical ethics with accounting practice, insufficient digital transformation adoption, inadequate ethical governance frameworks, and power asymmetries in stakeholder engagement. Recommendations emphasize developing culturally-grounded sustainability accounting frameworks that synthesize Indonesian philosophical traditions—including Stewardship and Common Good principles rooted in Catholic Social Teaching—with international best practices, strengthening environmental management accounting capabilities, and fostering genuine stakeholder dialogue to enable transformative corporate sustainability in Indonesia.