Insights into Blue Accounting Disclosures: Accounting Discipline Paradigm

The rapid evolution of marine knowledge necessitates in-depth transdisciplinary ocean sustainability studies that could provide pathways in solving the losses in ocean health and catalyze the blue economy, both of which present significant challenges. This decline in ocean health should be a cause for global concern because the oceans provide food, livelihood, and employment for billions of people worldwide. It also negates the United Nations Sustainable Development Goals. The paper provides a conceptual understanding of blue accounting disclosure from the stand point of accounting discipline in view of conflicting paradigms available in the public domain. The research method used is a qualitative method through literature review and conceptual modeling. The study's findings establish a new paradigm for blue accounting disclosure, focusing on sustainability reporting for the oceans and marine ecosystems by corporate bodies. The findings of this study have policy and practical implications for the advancement of corporate reporting and the accounting profession. The paper recommends a paradigm shift from traditional accounting practices, focused primarily on financial reporting to embrace more forward-looking disclosures in corporate reporting.