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    The paper draws from the theoretical constructs of Peirce’s (1991) visual semiotic system of icon, index and symbol and Aristotle’s (1984) persuasive appeals of ethos, pathos and logos, to develop an explicit three-step visual content analysis for photographic images and their accompanied text/caption. Specific application questions for each step of the analysis are designed as a toolkit to complement the applicability of the framework. Sustainability related photographs in the Coca-Cola Company’s 2018 Business & Sustainability Report are examined to illustrate the applicability of the analytical framework.