ing ▁on ▁economic , ▁environmental ▁and ▁social ▁performance ▁by ▁all ▁organizations ▁is ▁as ▁routine ▁and ▁compar able ▁as ▁financial ▁reporting ". ▁ ▁In ▁order ▁to ▁help ▁fin ance ▁teams ▁and ▁account ants ▁embed ▁sust ain ability ▁into ▁their ▁account ing , ▁The ▁Prince ▁of ▁Wales ▁set ▁up ▁The ▁Prince ' s ▁Account ing ▁for ▁S ust ain ability ▁Project ▁( A 4 S ) ▁in ▁ 2 0 0 4 . ▁ ▁History ▁The ▁concept ▁of ▁sust ain ability ▁account ing ▁has ▁emer ged ▁from ▁develop ments ▁in ▁account ing . ▁Broad ▁develop ments ▁in ▁account ing ▁have ▁occurred ▁over ▁the ▁past ▁forty ▁years , ▁although ▁narrow ▁develop ments ▁have ▁occurred ▁over ▁the ▁past ▁ten ▁years . ▁The ▁development ▁reve als ▁two ▁distinct ▁lines ▁of ▁analysis . ▁The ▁first ▁line ▁is ▁the ▁philosoph ical ▁debate ▁about ▁account ability , ▁if ▁and ▁how ▁it ▁cont ributes ▁to ▁sust ain able ▁development , ▁and ▁which ▁are ▁the ▁necessary ▁steps ▁towards ▁sust ain ability . ▁This ▁approach ▁is ▁based ▁on ▁an ▁entirely ▁new ▁system ▁of ▁account ing ▁designed ▁to ▁promote ▁a ▁strategy ▁of ▁sust ain ability . ▁The ▁second ▁line ▁is ▁the ▁management ▁perspective ▁associated ▁with ▁varied ▁terms ▁and ▁tools ▁towards ▁sust ain ability . ▁This ▁could ▁be ▁seen ▁as ▁an ▁extension ▁of ▁or ▁modification ▁to ▁conventional ▁financial ▁cost ▁or ▁management ▁account ing . ▁To ▁develop ▁sust ain ability ▁account ing ▁de ▁nov o ▁allows ▁a ▁complete ▁re app rais al ▁of ▁the ▁relative ▁significance ▁of ▁social , ▁environmental ▁and ▁economic ▁benefits ▁and ▁ris ks ▁and