48 International Journal of Social Ecology and Sustainable Development, 4(2), 48-72, April-June 2013 Copyright © 2013, IGI Global. Copying or distributing in print or electronic forms without written permission of IGI Global is prohibited. Copyright © 2013, IGI Global. Copying or distributing in print or electronic forms without written permission of IGI Global is prohibited. The Implementation of Sustainability Reporting in SGR Group: Some Challenges of Transition from “Greenwashing” to Relational Change Maria-Gabriella Baldarelli, Department of Management, University of Bologna, Bologna, Italy Mara Del Baldo, Department of Economics, Society and Politics, University of Urbino “Carlo Bo”, Urbino, Italy ABSTRACT The implementation of sustainability reporting entails contradictory elements that can involve greenwashing or corporate governance procedures modifcations, as well as the mission and accounting system of a company. Based on the premise in this paper, the authors show the end of a frst step of research process and answer the question: How does the introduction of a Sustainability Report (SR) transform mission, governance and accountability of enterprises? Attention is focused on the implications of the process of social and sustainable accountability with respect to the values order, structure and tools of governance, and those used to account for and hold the stakeholders accountable for the results, modality, and objectives which characterize the accountability of corporate activity. The deductive research approach is based on an analysis of the litera- ture regarding sustainability development and sustainability reporting. The inductive method is based on the analysis of a research case related to an Italian multi-utility company: SGR Group. The analysis carried out focused on features of the sustainability process started by the company and interpreted it as the challenge launched by the Group to contribute to create, through its own activities, a civil economy which is typical of the corporate culture of responsibility and sustainable market economy built on the civil corporation. Keywords: Accountability, Governance, Mission, Sustainability, Sustainability Report 1. INTRODUCTION The process of transition from accounting to accountability, which has the almost exclusive objective of improving the corporate image, has an extremely and limited effect over time in relation to the stakeholders, as had been demonstrated in the vast literature on the matter (Adams, 2004; Adams & McNicholas, 2006; Gray et al., 1987; Gray, 1994; Gray et al., 1995; Gray & Bebbington, 2000). The ex- tent, to which organizations shape managerial decision-making to initiate the sustainability reporting process, depends on a number of DOI: 10.4018/jsesd.2013040104