DOCSLIB.ORG

Forum on Natural Capital Accounting for Better Policy Decisions: Taking Stock and Moving Forward

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Forum on Natural Capital Accounting for Better Policy Decisions: Taking Stock and Moving Forward Public Disclosure Authorized Forum on Natural Capital Accounting for Better Policy Decisions: Taking Stock and Moving Forward October 2017 Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Wealth Accounting and the Valuation of Ecosystem Services www.wavespartnership.org Wealth Accounting and the Valuation of Ecosystem Services Forum on Natural Capital Accounting for Better Policy Decisions: Taking Stock and Moving Forward Edited by Michael Vardon, Steve Bass, Sofia Ahlroth and Arjan Ruijs WAVES is a World Bank-led global partnership that aims to promote sustainable development by ensuring that natural resources are mainstreamed in development planning and national economic accounts. © 2017 International Bank for Reconstruction and Development / The World Bank 1818 H Street NW Washington, DC 20433 Telephone: 202-473-1000 Internet: www.worldbank.org This work is a product of the staff of The World Bank with external contributions. The findings, interpretations, and conclusions expressed in this work do not necessarily reflect the views of The World Bank, its Board of Executive Directors, or the governments they represent. The World Bank does not guarantee the accuracy of the data included in this work. The boundaries, colors, denominations, and other information shown on any map in this work do not imply any judgment on the part of The World Bank concerning the legal status of any territory or the endorsement or acceptance of such boundaries. Rights and Permissions The material in this work is subject to copyright. Because The World Bank encourages dissemination of its knowledge, this work may be reproduced, in whole or in part, for noncommercial purposes as long as full attribution to this work is given. Any queries on rights and licenses, including subsidiary rights, should be addressed to World Bank Publications, The World Bank Group, 1818 H Street NW, Washington, DC 20433, USA; fax: 202-522- 2625; e-mail: [email protected]. Suggested Citation Vardon, M., Bass, S., Ahlroth, S. and Ruijs, A. (Eds) (2017). Forum on Natural Capital Accounting for Better Policy Decisions: Taking Stock and Moving Forward. World Bank WAVES, Washington D.C. Cover photo: Fishermen ©Curt Carnemark/World Bank Contents Abbreviations .................................................................................................................................................................................... vii Acknowledgments ......................................................................................................................................................................... xi Preface ................................................................................................................................................................................................ xiii Executive Summary ...................................................................................................................................................................... xv Chapter 1. Introduction to the Forum on Natural Capital Accounting for Better Policy Decisions........... 1 Chapter 2. The Policy and Institutional Context for Natural Capital Accounting .............................................. 5 Chapter 3. Natural Capital Accounting for Policy – A Global View of Achievements, Challenges and Prospects ................................................................................................................................................................... 17 Chapter 4. From Accounts to Policy: Dutch – Experiences with Natural Capital Accounting .................... 31 Chapter 5. Applying Natural Capital Accounting in Government Decision Making – Opportunities for New Uses and Collaborative Design ............................................................................................................. 39 Chapter 6. Natural Capital Accounting for State of the Environment Reporting in the Australian Capital Territory ............................................................................................ 45 Chapter 7. Water Accounts and Management in Botswana........................................................................................ 61 Chapter 8. The Use of Natural Capital Accounts in the Design of Public Policy in Colombia ...................... 67 Chapter 9. Using Water Accounts and Modeling to Help Set Water Prices in Colombia ............................ 77 Chapter 10. Costa Rica: Influence of Natural Resources Accounting on Public Policy and Decision Making ...................................................................................................................................................... 85 Chapter 11 . The Contribution of Energy and CO2 Accounting to Policy in Costa Rica .................................... 93 Chapter 12. Implementing Natural Capital Accounting in Developing Countries: Public-Academic Partnerships and Policy Uptake in Guatemala ........................................................................................ 103 Chapter 13. The Integrated Economic-Environmental Modeling Platform: An Application to Guatemala’s Fuelwood and Forestry Sector ............................................................................................ 115 Chapter 14. Linking Natural Capital Accounts and Development Policy: The Case of Indonesia’s Intended Nationally Determined Contribution ........................................................................................ 125 Chapter 15. Measuring Green Growth for Environmental Economic Policies in the Netherlands ............... 131 Chapter 16. The Use of Water Accounts for Water Policy in the Netherlands .................................................... 139 Chapter 17. Environmental Accounts in Dutch Energy Policies ................................................................................. 147 Chapter 18. Use of Mineral Asset Accounts in the Philippines .................................................................................... 157 Chapter 19. Natural Capital Accounting in Rwanda: The Process and Potential Applications ..................... 163 Chapter 20. How Environmental Accounts in Sweden Are Driven by Changing Policy Need ................... 173 Chapter 21. Natural Capital Policy in the United Kingdom .......................................................................................... 181 Chapter 22. Assessing Strategies to Achieving the SDGs: An Integrated Economic-Environmental Modeling Approach .......................................................................................................................................... 187 Chapter 23. Developing Pilot Ecosystem Accounts in the European Union: Potential Policy Applications ........................................................................................................................................................... 197 Chapter 24. The Aichi Targets and Biodiversity Conservation – The Role of Natural Capital Accounting ............................................................................................................................................................. 205 Chapter 25. Applying Natural Capital Accounting to Water Policy ....................................................................... 217 Chapter 26. Business and National Accounting for Natural Capital – Toward Improved Understanding and Alignment ................................................................................................................... 229 Annex 1. Summary of Country Questionnaires for the Forum on Natural Capital Accounting for Better Policy Decisions .................................................................... 237 Annex 2. 2016 Forum on Natural Capital Accounting for Better Policy Decisions, Participant List ..................................................................................................................................................... 241 Annex 3. Short Biographies of Authors ...................................................................................................................... 243 Abbreviations 25 YEP 25 Year Environment Plan A4S Accounting for Sustainability Project ABS Australian Bureau of Statistics ACT Australian Capital Territory AFR Africa ANU Australian National University BANGUAT Bank of Guatemala Bappenas Ministry of Development Planning, Indonesia BCCR Central Bank of Costa Rica BCG Central Bank, Guatemala BMZ Deutsche Gesellschaft Fur Internationale Zusammenarbeit BOM Bureau of Meteorology, Australia BPC Botswana Power Corporation BPS National Statistics Office, Indonesia BUAN Botswana University of Agriculture and Natural Resources BUR Biennial Update Report, Costa Rica CAR Regional autonomous corporations CBD Convention on Biological Diversity CBS Statistics Netherlands CEA Competent Environmental Authorities, Colombia CGE Computable general equilibrium CIC Core implementing country CICES Common International Classification of Ecosystem Services CO2 Carbon dioxide COMPES Council for the National Economic and Social Policy, Colombia COP Community of practice COP Conference of the Parties COP21 UNFCCC COP Paris 2015 CRIRSCO Combined Reserves International Reporting Standards Committee DANE National Administrative Department of Statistics, Colombia Defra Department for Environment, Food, and Rural Affairs, United Kingdom DENR Department of Environment and Natural Resources, Philippines DfID Department for International
Load more

Recommended publications
  • Green Accounting and Material Flow Analysis: Alternatives Or
    View metadata, citation and similar papers at core.ac.uk brought to you by CORE provided by Publikationsserver des Wuppertal Instituts für Klima, Umwelt, Energie Wissenschaftszentrum Kulturwissenschaftliches Nordrhein-Westfalen Institut Institut Arbeit Wuppertal Institut für und Technik Klima, Umwelt, Energie GmbH Peter Bartelmus with André Vesper Green Accounting and Material Flow Analysis Alternatives or Complements? Papers No. 1 06 · July 2000 ISSN 0949-5266 Wuppertal Wuppertal Wuppertal Institut für Klima, Umwelt, Energie GmbH Division for Material Flows and Structural Change Peter Bartelmus Döppersberg 19 42103 Wuppertal Tel.: 0202-2492 -132 Fax: 0202-2492 -138 E-Mail: [email protected] http://www.wupperinst.org Paper originally submitted to the Klausurtagung, Vereinigung für Ökologische Ökonomie e.V. (Weimar 25-27 Oct. 1999). Comments and suggestions by Jochen Luhmann are gratefully acknowledged. Table of Contents: 1 Introduction: getting physical? 5 2 Physical and monetary accounting: commonalities and differences 7 2.1 Rationale and approaches 7 2.2 (E)valuation: pricing the priceless and weighting by weight 11 2.2.1 Valuation methods 11 2.2.2 Linking physical and monetary approaches 12 3 First results 15 3.1 TMR of some industrialized countries 15 3.2 Green accounts: Germany and selected countries 15 4 Analysis and policy use 19 4.1 Ecological vs. economic sustainability: two sides of the same coin? 19 4.2 Sustainability strategies 20 4.3 Environmental accounts and policy making 22 Annex: SEEA Germany 1990 — First
    [Show full text]
  • Green Accounting for Sustainable Development: Case Study of Industry Sector in West Bengal Maniparna Syamroy 1 , Asutosh College, Kolkata, India
    The Journal of Industrial Statistics (2017), 6 (1), 57 - 71 5 7 Green Accounting for Sustainable Development: Case Study of Industry Sector in West Bengal Maniparna SyamRoy 1 , Asutosh College, Kolkata, India Abstract The challenge of sustainable development in developing countries is to probe deeper into the visible and invisible areas inhibiting the cause of green economy - raising the standard of living but with due consideration to resource use and environmental impact. Sector-wise assessment of the environmental indicators can help to reflect the realities of economic growth and development. The conventional national income accounting (SNA) or the Gross Domestic Product (GDP) cannot be a complete indicator of sustainable development because it deals only with changing stock and flow of man-made capital but not of natural capital such as land, water, air, forest etc., and of its depleting stock as used up through its present economic activities. Continuous effort to find the right indicator as appropriate signaling mechanism of sustainable development, green accounting emerged as one of the possible indicators of sustainability. This paper demonstrates how an industrial resource account for two vital resources – water and air resources for West Bengal can be prepared using mainly secondary data from different government publications. The paper shows the data gaps. This study provides the methodology and data types which can help in improving the green accounting system of the state as well as the country to help in sustainable development oriented policy formulations. 1. Introduction: Sustainable Development and Green Accounting 1.1 The focus of all developing nations is on building up “Green Economy” which signifies human well-being and social equity together with reducing environmental risks and ecological scarcity.
    [Show full text]
  • The Impact of Green Accounting on Sustainable Development
    Inspira-Journal of Commerce, Economics & Computer Science (JCECS) 103 ISSN : 2395-7069 (Print), General Impact Factor : 2.0546, Volume 03, No. 03, July-Sept., 2017, pp. 103-106 THE IMPACT OF GREEN ACCOUNTING ON SUSTAINABLE DEVELOPMENT Dr. R. K. Tailor ∗ ABSTRACT Growth can no longer be measured in strictly economic terms such as the monetary value of output, income or expenditure per head. Additional criteria are needed for green growth. Prosperity consists in our ability to flourish as human beings-within the ecological limits of a finite planet. The challenge for our society is to create the conditions under which this is possible. Green growth will come from applying green public procurement and green research and development. Appropriate penalties such as making the polluter pay for pollution and incentives like tax breaks for investment in green R&D are required. However, measuring green growth will need additional criteria such as sustainability, greenness, happiness or well-being. Green or environmental accounting could be the answer. At the corporate level, this requires the identification and monetary measurement of the traditional private internal costs that directly affect the bottom line of the balance sheet. These are direct costs, such as materials and labor, which are attributed to a product or department and indirect costs, or overheads, such as rent, administration, depreciation, fuel and power. Above all, externalities such as social and economic environmental costs that impact the external environment must also be taken into account. Although often ignored, their inclusion as internal items in corporate accounts could mean that scarce resources are more efficiently allocated.
    [Show full text]
  • Environmental Accounting As Perspective for Hotel Sustainability: Literature Review
    Tourism and Hospitality Management, Vol. 20, No. 1, pp. 103-120, 2014 S. Jankovi ć, D. Kriva čić: ENVIRONMENTAL ACCOUNTING AS PERSPECTIVE FOR HOTEL ... ENVIRONMENTAL ACCOUNTING AS PERSPECTIVE FOR HOTEL SUSTAINABILITY: LITERATURE REVIEW Review Sandra Jankovi ć Dubravka Kriva čić Received 12 February 2014 Revised 12 March 2014 21 May 2014 Abstract Purpose – Competitive environment and numerous stakeholders’ pressures are forcing hotels to comply their operations with the principles of sustainable development, especially in the field of environmental responsibility. Therefore, more and more of them incorporate environmental objectives in their business policies and strategies. The fulfilment of the environmental objectives requires the hotel to develop and implement environmentally sustainable business practices, as well as to implement reliable tools to assess environmental impact, of which environmental accounting and reporting are particularly emphasized. The purpose of this paper is to determine the development of hotel environmental accounting practices, based on previous research and literature review. Approach – This paper provides an overview of current research in the field of hotel environmental accounting and reporting, based on established knowledge about hotel environmental responsibility. The research has been done according to the review of articles in academic journals. Conclusions about the requirements for achieving hotel long-term sustainability have been drawn. Findings – Previous studies have shown that environmental accounting and reporting practice in hotel business is weaker when compared to other activities, and that most hotels still insufficiently use the abovementioned instruments of environmental management to reduce their environmental footprint and to improve their relationship with stakeholders. The paper draws conclusions about possible perspectives that environmental accounting has in ensuring hotel sustainability.
    [Show full text]
  • Analysis on the Relationship Between Green Accounting and Green Design for Enterprises
    Sustainability 2015, 7, 6264-6277; doi:10.3390/su7056264 OPEN ACCESS sustainability ISSN 2071-1050 www.mdpi.com/journal/sustainability Article Analysis on the Relationship between Green Accounting and Green Design for Enterprises Jui-Che Tu and Hsieh-Shan Huang * Graduate School of Design, National Yunlin University of Science and Technology, Yunlin 640, Taiwan; E-Mail: [email protected] * Author to whom correspondence should be addressed; E-Mail: [email protected]; Tel.: +886-7-721-3963; Fax: +886-7-722-1267. Academic Editor: Rachel J. C. Chen Received: 17 January 2015 / Accepted: 18 May 2015 / Published: 21 May 2015 Abstract: Green design is advocated and developed in response to the increasingly deteriorating global environment, but its implementation is only based on the morality of the entrepreneurs, without economic incentive and legal restraint. As a result, green design has not been widely adopted. In recent years, the European countries, the U.S., Japan, the UN and Taiwan have successively promoted environmental accounting guidelines and required enterprises to disclose environmental improvement information, so as to improve the environment through production that will unavoidably impact product manufacturing. How product design should respond to this trend is a concern of this study. This study adopted the KJ (Kawakita Jiro) method and the meta-research method to analyze the influence factors. Then, it was discussed whether green design is feasible. The results showed that the requirements of green accounting include: expanding corporate social responsibility, production cannot be exempted from environmental protection, the manufacturing of clean products can generate pollution, the external production cost should be internalized, the redesign to improve the product production process and packaging, reducing resource waste and implementing the (Reduce, Recycle, Reuse) 3R policy, lifecycle assessment for all assessments and developing environmentally-friendly products, which can be solved with green design.
    [Show full text]
  • Dematerialization and Capital Maintenance: Two Sides of the Sustainability Coin
    A Service of Leibniz-Informationszentrum econstor Wirtschaft Leibniz Information Centre Make Your Publications Visible. zbw for Economics Bartelmus, Peter Working Paper Dematerialization and capital maintenance: Two sides of the sustainability coin Wuppertal Papers, No. 120 Provided in Cooperation with: Wuppertal Institute for Climate, Environment and Energy Suggested Citation: Bartelmus, Peter (2002) : Dematerialization and capital maintenance: Two sides of the sustainability coin, Wuppertal Papers, No. 120, Wuppertal Institut für Klima, Umwelt, Energie, Wuppertal, http://nbn-resolving.de/urn:nbn:de:bsz:wup4-opus-13592 This Version is available at: http://hdl.handle.net/10419/49124 Standard-Nutzungsbedingungen: Terms of use: Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Documents in EconStor may be saved and copied for your Zwecken und zum Privatgebrauch gespeichert und kopiert werden. personal and scholarly purposes. Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle You are not to copy documents for public or commercial Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich purposes, to exhibit the documents publicly, to make them machen, vertreiben oder anderweitig nutzen. publicly available on the internet, or to distribute or otherwise use the documents in public. Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, If the documents have been made available under an Open gelten abweichend von diesen Nutzungsbedingungen die in der dort Content Licence (especially Creative Commons Licences), you genannten Lizenz gewährten Nutzungsrechte. may exercise further usage rights as specified in the indicated licence. www.econstor.eu Wissenschaftszentrum Kulturwissenschaftliches Nordrhein-Westfalen Institut Institut Arbeit Wuppertal Institut für und Technik Klima, Umwelt, Energie GmbH Peter Bartelmus* Dematerialization and Capital Maintenance: Two Sides of the Sustainability Coin Papers No.
    [Show full text]
  • From Growth to Green Growth - a Framework
    NBER WORKING PAPER SERIES FROM GROWTH TO GREEN GROWTH - A FRAMEWORK Stéphane Hallegatte Geoffrey Heal Marianne Fay David Treguer Working Paper 17841 http://www.nber.org/papers/w17841 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 February 2012 The research in this paper was funded in part by the World Bank and by Meteo-France. The views expressed herein are those of the authors and do not necessarily reflect the views of the World Bank, its executive directors, the countries they represent, or the National Bureau of Economic Research. NBER working papers are circulated for discussion and comment purposes. They have not been peer- reviewed or been subject to the review by the NBER Board of Directors that accompanies official NBER publications. © 2012 by Stéphane Hallegatte, Geoffrey Heal, Marianne Fay, and David Treguer. All rights reserved. Short sections of text, not to exceed two paragraphs, may be quoted without explicit permission provided that full credit, including © notice, is given to the source. From Growth to Green Growth - a Framework Stéphane Hallegatte, Geoffrey Heal, Marianne Fay, and David Treguer NBER Working Paper No. 17841 February 2012 JEL No. D90,Q01,Q32,Q4 ABSTRACT Green growth is about making growth resource-efficient, cleaner and more resilient without slowing it. This paper aims at clarifying this in an analytical framework and proposing foundations for green growth. This framework identifies channels through which green policies can potentially contribute to economic growth. Finally, the paper discusses the policies that can be implemented to capture co-benefits and environmental benefits. Since green growth policies pursue a variety of goals, they are best served by a combination of instruments: price-based policies are important but are only one component in a policy tool-box that can also include norms and regulation, public production and direct investment, information creation and dissemination, education and moral suasion, or industrial and innovation policies.
    [Show full text]
  • A Guidebook to the Green Economy
    A guidebook to the Green Economy Issue 1: Green Economy, Green Growth, and Low-Carbon Development – history, definitions and a guide to recent publications Division for Sustainable Development, UNDESA This document was prepared by Cameron Allen and Stuart Clouth, UN Division for Sustainable Development, August 2012 Contents 1. Introduction.....................................................................................................................5 2. Related concepts: Green economy, green growth and low‐carbon development.............6 3. Green Economy................................................................................................................7 3.A. Publications.................................................................................................................................. 9 Towards a Green Economy: Pathways to Sustainable Development and Poverty Eradication – UNEP........ 9 Working Towards a Balanced and Inclusive Green Economy – Environmental Management Group, United Nations........................................................................................................................................................ 10 Green Economy Briefing Papers ‐ UNEP...................................................................................................... 11 Why a Green Economy Matters for the Least Developed Countries ‐UNEP, UNCTAD, UN‐OHRLLS............ 11 Measuring Progress Towards a Green Economy ‐ UNEP............................................................................
    [Show full text]
  • Full Cost Accounting and Social Environmental Effects on Global Warming Phenomenon
    Accounting and Management Information Systems Vol. 8, No. 4, pp. 567 – 588, 2009 FULL COST ACCOUNTING AND SOCIAL ENVIRONMENTAL EFFECTS ON GLOBAL WARMING PHENOMENON Cornelia DASC ĂLU 1, Chira ţa CARAIANI, Raluca GU ŞE, Camelia Iuliana LUNGU & Florian COLCEAG The Bucharest Academy of Economic Studies, Romania ABSTRACT The purpose of this research is a critical analysis of current knowledge in the field of accounting recognition policies and procedures as well as social and environmental reporting, leading to a conceptual clarification of externalities induced by global warming effects. We propose a review of FCA – Full Cost Accounting literature that allows the conventional costing model to expand to an eco-costing model able to generate costs that are compatible with the sustainable development objectives. The study represents a fundamental inductive research, using qualitative methods to identify the theoretical and practical difficulties of externalities recognition in social and environmental accounting. Thus, a pertinent knowledge base on externalities will emerge, in order to incorporate external costs into the conventional accounting model. Global warming, externalities, full cost accounting, social and environmental accounting model, stakeholders INTRODUCTION The present global economy is governed by market forces that do not generally uphold ecological principles. Prices include accounting information designed as an expression of economic reality, ignoring the environmental impact and therefore generating decisions that are in
    [Show full text]
  • The Effect of Green Accounting Implementation on Improving the Environmental Performance Mining and Energy Companies in Indonesia
    Binus Business Review, 10(2), July 2019, 131-137 P-ISSN: 2087-1228 DOI: 10.21512/bbr.v10i2.5767 E-ISSN: 2476-9053 The Effect of Green Accounting Implementation on Improving the Environmental Performance Mining and Energy Companies in Indonesia Wahyuni1; Inten Meutia2; Syamsurijal3 1,2Accounting Department, Faculty of Economics, Sriwijaya University 3Economic Science Department, Faculty of Economics, Sriwijaya University Jln. Srijaya Negara Bukit Besar, Palembang 30139, Indonesia [email protected]; [email protected]; [email protected] Received: 6th July 2019/ Revised: 5th August 2019/ Accepted: 12th August 2019 How to Cite: Wahyuni, Meutia, I., & Syamsurijal. (2019). The Effect of Green Accounting Implementation on Improving the Environmental Performance Mining and Energy Companies in Indonesia. Binus Business Review, 10(2), 131-137. https://doi.org/10.21512/bbr.v10i2.5767 ABSTRACT This study aimed to prove the effect of green accounting implementation on improving environmental performance in mining and energy companies in Indonesia. In this study, the implementation of green accounting was taken from the green accounting concept that contained quantitative and qualitative information reported by the company. The observation period of this study was three years from 2014 to 2016. The object of this research was the mining and energy companies registered in the Global Reporting Initiative (GRI) database in Indonesia. The data used were secondary data obtained from sustainability reporting with the GRI-G4 report type. Data analysis was using panel data regression with a random effect model approach. The results show that the implementation of green accounting in the form of recycled materials, renewable energy, and green cost allocation has a positive and significant effect on improving environmental performance.
    [Show full text]
  • Accounting for Sustainability Cheryl Chan
    Accounting for Sustainability Cheryl Chan Green Accounting: creating a monetary value for environmental factors and factoring sustainability costs into financial results F a l l 2 0 1 1 Honors Capstone Professor Robert Edgell MGMT - 458- 0 0 3 U n i v e r s i t y H o n o r s i n B u s i n e s s A d m i n i s t r a t i o n 1 Cheryl Chan Abstract: This paper reports on a study of how, in a changing world, the environment is more than ever playing a bigger role in corporations and their strategies. Incorporating environmental strategy into a company’s business strategy can evolve the company’s reputation and competitive advantage as well as profit the earth and the corporation. This paper’s main focus is on putting a monetary value on something as intangible as the environment and its benefits and how that value has helped companies focus on their environmental policies and programs. This paper also touches upon the topic of how green initiatives can help a company increase their bottom line using Green Accounting. It is important to understand the role the environment plays on stakeholders and how creating sustainable practices will have a significant impact on how green initiatives should be treated. Businesses and governments need to understand both how to value environmental costs and benefits, such as pollution, emissions and waste and how stakeholders value environmental goods that have no monetary market price. In this paper I will argue that by encouraging companies to account for their carbon emissions, water disclosure and waste management and more specifically how putting those values into quantitative data will help companies realize a competitive advantage and perhaps an additional profit.
    [Show full text]
  • Green Accounting: the Way to Economic Sustainability Dr. Egiyi
    International Journal of Advanced Economics and Sustainable Development | ISSN 2766-2659 Published by ACADEMIC INK REVIEW | https://airjournal.org/ijaesd 12011 WestBrae Pkwy, Houston, TX 77031, United States [email protected]; [email protected] Green Accounting: The Way to Economic Sustainability Dr. Egiyi, Modesta Amaka1; Alio, Florence2 1Department of Accountancy, Godfrey Okoye University 2Department of Accountancy, University of Nigeria, Enugu Campus Publication Process Date Received October 1st, 2020 Accepted October 20th, 2020 Published November 30th, 2020 ABSTRACT The emergence of green accounting began in 1992 in the United States of America. This was as a result of the concerns of the external stakeholders. They stakeholders understood that the prevention pollution would not be adopted as the primary choice of environmental management by firms and industries until the costs of non-preventive methods and the economic values of the prevention of pollution could be seen by managers and business decision making bodies. Green accounting considers environmental resources and vicissitudes in them, it integrates the result into the system of national account thus to provide quality information, which serves as a foundation for planning and making policy for integrated sustainable development and by extension, growth of the nation. Nations of the world mine and drill natural resources not regarding the impact it leaves on the environment. Keywords: Green Accounting; Sustainable Development; Economic Sustainability; Environmental Pollution International Journal of Advanced Economics and Sustainable Development | IJAESD Vol. 1., No. 1| November, 2020 | pp. 19-25 https://airjournal.org/ijaesd 1. Introduction Green Accounting as a new term in the accounting practice has been receiving much welcome around the world as the once foretold plague of the effect of climate change has become more blatant.
    [Show full text]