IJAAR-SSE/V1N2/N15/P13

ENVIRONMENTAL ACCOUNTING – A TOOL FOR SUSTAINABLE DEVELOPMENT

ADEKANMI ADEREMI DANIEL

Department of Accounting,
College of Management and Social Sciences,
Oduduwa University,
Nigeria.

 

ADEDOYIN RAMAT ADEWUMI

Department of Accounting,
College of Management and Social Sciences,
Oduduwa University,
Nigeria.

 

ADEWOLE JOSEPH ADEYINKA

Department of Banking and Finance,
College of Management and Social Sciences,
Oduduwa University,
Nigeria.

 

ABSTRACT

This study examined the level of environmental accounting practice of listed firms in Nigeria. This was with a view to providing information on how environmental accounting could be employed to enhance sustainability economic development. Secondary source of data collection was employed for the study. Purposive sampling technique was used to select a sample of 50 firms listed on the main board of the Nigerian Stock Exchange based on availability of their annual reports from 2005 to 2012. Qualitative data were sourced. Data collected were analysed with the aid of descriptive statistics. Based on Global Reporting Initiative and Global Environmental Management Initiative vis-à-vis separate environmental report; environmental protection measures; eco-efficiency indicators; policy, programmes, activities and certifications; environmental & social research & development; environmental report audit; compliance with environmental regulation; social and environmental provisions; government & other incentives related to environmental protection received; details of social and environmental liabilities & contingent socio-environmental liabilities; award received; and emissions trading. The study found that in aggregate the selected companies reporting for 2005, 2006, 2007, 2008, 2009, 2010, 2011 and 2012 is 8.8%, 10.8%, 19.6%, 22.1%, 25.4%, 28.8%, 33.3% and 37% respectively. Despite the commitment through the Kyoto Protocol that by 2005, nations should have made demonstrable progress to promote sustainable economic development, the aggregate value of disclosure is approaching average, this highlight a gap that need to be filled to ensure sustainable development. The study recommends that government and business should consolidate on their efforts that enhance environmental sustainability and companies should take corrective measures where their activities devalue the environmental.

Keywords:

Environmental Accounting; Sustainability Development; Nigeria.

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