ACT505: Sustainable Business Practices in the Sri Lankan Tea Industry

This case study examines the sustainable business practices of a tea plantation company in Sri Lanka, which contributes significantly to the country's exports. The tea industry faces environmental challenges such as climate change and labor issues. The company employs strategies like reducing greenhouse emissions, protecting biodiversity, and embracing tree planting programs. Labor issues are addressed through mechanization and continuous dialogue with the workforce. Socio-political and economic factors influence management, accounting, and assurance processes, with buyers emphasizing environmental and social responsibility. The company utilizes integrated reporting and adheres to stakeholder and legitimacy theories to ensure sustainability. The study explores the impact of external certifications, internal audits, and various isomorphism processes on embedding sustainable practices within the company's operations, highlighting the importance of ethical business conduct and sustainability reporting.