The role of corporate sustainability accounting in Iran—and the influence of board members as the primary decision-makers—is of great significance. Accordingly, this study sought to identify a model for corporate sustainability accounting, focusing on the psychological variables of board members and the process by which corporate sustainability accounting becomes established. Therefore, employing a grounded theory approach across two qualitative stages during the years 1403–1404, the study first identified psychological variables through interviews with qualified psychologists, reaching the point of saturation after conducting 12 interviews. In the second phase of data collection, interviews were conducted with corporate board members (meeting the study's eligibility criteria), and this stage reached saturation after thirteen interviews. During the analysis phase—utilizing the three-stage coding process (open, axial, and selective)—a model for the viability of corporate sustainability accounting, emphasizing the psychological variables of board members, was developed. Key categories identified included: establishing the necessary conditions for women's membership on corporate boards; verifying psychological qualifications through mental health assessments (conducted by competent legal and medical authorities); the exercise of power and violence; leadership capabilities; and a forward-looking approach to green product manufacturing. In addition to examining the importance of corporate sustainability accounting in business entities, this study offers a novel contribution by evaluating a key issue hindering the achievement and implementation of corporate sustainability accounting.