Despite the current trends to encourage companies to create a sustainability report, the strategic and performance management behind such reports is often unclear. Utilizing several conceptual perspectives, inside-out, outside-in and twin-track, this development paper investigates how companies can integrate corporate activities, functions and stakeholders not only to produce a sustainability report, but to integrate sustainability issues in the strategic management and performance measurement as well. This conceptual paper develops a framework that can be used to assess companies’ documents, including sustainability reports, materiality assessments, stakeholder engagement, etc., on their approach to sustainability activities. Initial findings reveal that strategy, stakeholder management, performance measurement and reporting are often created in separate departments, seldom coordinating these business functions to reorganize a company’s sustainability activities. This indicates that more explicit integration of different approaches is needed, and it raises a question for future research how such an integration could actually be achieved.