The present review paper is a sincere attempt to synthesise dominant theories behind the sustainability disclosure of business organisations around the world. As studies by various researchers on sustainability reporting (SR) have employed several theories to explain the motive and rationale behind adopting sustainability disclosure practices, it is pertinent to study and understand all major theories in one study to develop a theoretical base for sustainability disclosure by corporations worldwide. Further, the study has provided a detailed account of all significant global standards and frameworks on sustainability reporting. The paper adds to the growing body of literature through developing an understanding of theoretical and reporting framework on sustainability.