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Abstract

This academic article explores the theoretical foundations and current challenges faced by accounting incorporating Environmental, Social, and Governance (ESG) criteria into financial information systems. Through a critical literature review, it examines the limitations of traditional accounting, the emergence of social and environmental accounting, and the main theories that support the evolution toward sustainable accounting models. Furthermore, it analyzes the international regulatory frameworks that guide the preparation of sustainability reports and contemporary debates regarding their legitimacy, scope, and measurement. Finally, it discusses the epistemological, technical, and regulatory challenges involved in this paradigmatic shift, highlighting the need to integrate sustainability as a structural axis within the accounting discipline.