The paper describes and evaluates how a higher education institution (Budapest Business School -- BBS), aspiring for AACSB accreditation, co-created innovative tools, based on the UN's Sustainable Development Goals and the principles of sustainable development. The paper has two interrelated objectives: to present what sort of innovative, web-based tools can be used to promote sustainable practices at higher education institutions and to highlight how such practices support institutional development processes in the context of candidacy for AACSB accreditation. Based on the academic literature on ethics and sustainability education, the respective accreditation standards, and internal sources (databases and feedback from participants of events using the educational tools), these innovative tools were found useful for higher education institutions aspiring for AACSB accreditation in ensuring that their governance, faculty, staff, and students not only understand sustainability but also have the capacity to act sustainably and promote sustainable practices.