Executive Summary Sustainability reporting is a concept that organizations are finding hard to ignore. Stakeholders in contemporary world are able to legitimize activities and operations of an organization based on how well the organization performs with regard to social, economic, and environment aspects, which constitute sustainable development. Australia, as a country impacted by global forces, cannot be isolated from this new developments taking place and as a result, the country’s performance of many organizations is going to be benchmarked on sustainability reporting. What therefore this means is that, Australia needs to adopt and implement the most appropriate global standardized tools for her sustainability reporting needs. This report finds out that adoption of GRI is critical and beneficial for sustainability of Australia organizations. Introduction The nature of doing business has been undergoing transformation in the last few decades and today, stakeholders are demanding that organizations should reveal their business activity performances (Perego, 2009). Contemporary organizations under the influence of stakeholders are finding it necessary to pay attention to sustainability performance of organizations’ activities with regard to economic, social and environment aspects (Kolk, 2006). This is being reflected in the changing nature of organizations’ strategies, operational activities, and public disclosure, which are becoming necessary and common. Therefore, sustainability reporting (SR) is becoming a norm among organizations in and outside Australia, and according to Hubbard (2011), SR involves “reporting aspects of organization’s environmental and social as well as economic aspects of an organization’s performance” (p.824). Sustainability reporting reasons The first reason has to do with market mechanisms whereby, market drivers have resulted into growth of numerous ethical, social, and environmental investment funds, which in turn have influenced the necessity for sustainability disclosures (Vormedal and Ruud 2009). Social drivers have also become part of reasons for the growth of sustainability reporting. According to Solomon and Lewis (2002), organizations are becoming more obliged to disclose information regarding their social, environmental, and ethical performance as required by stakeholders (Vormedal and Ruud, 2009). Legitimacy theory posits that, organizations have to legitimize their behavior and at same time justify their activities, which therefore makes sustainability reporting to be the avenue to obtain ‘social license’ of operation and at same time, establish good reputation for the organization (Ortas and Moneva, 2011). Political and regulatory drivers are also contributing to the growth of sustainability reporting as great emphasis of political agenda centers on social and corporate responsibility of organizations (Ortas and Moneva 2011). The take on this is that, political policies and legislations may influence the need for organizations to have sound and functional SR practices. The last reason for growth of SR has to do with emergence of global standard-setting institutions, which in one way or the other are becoming avenues settin