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Advances in Environmental Accounting and Management has three main
objectives. First, it enhances understanding of global
environmental issues, especially valuation and disclosure of
environmental impacts of firms' activities. Second, it makes
management, investors and other stakeholders aware of the financial
and economic consequences of our failure to address the
environmental issues. Third, it encourages management to improve
the firm's environmental performance and disclosures.
Accounting as an academic discipline has not made any real strides
in addressing social and environmental concerns facing this planet.
Since the first volume of the series was published in 2000, there
have been no changes in the focus of accounting and it is still
taught and practiced in the same way.
Social/environmental/sustainability accounting is still a fringe
subject despite the fact that ignoring environmental issues has
serious consequences for the survival of this planet. Unless social
and environmental accounting is formally recognized, firms will
continue to view it as a means to convey information that enables
them to manage their reputation without actually making any real
efforts to improve the environment. The papers included in this
volume discuss different aspects of sustainability, environmental
performance, and environmental disclosures. Overall, it is fairly
obvious from these papers that firms are aware of the impact of
their activities on the environment. Some of the papers analyze
what firms do about environmental issues and how these activities
and their impact on the environment are disclosed in the financial
statements. Though the papers come to different conclusions, it
becomes clear from these studies that firms have problems in
managing the impact of their environmental activities as well as in
disclosing full and realistic information on these activities.
Thus, it appears from these papers that firms manage their message
to look good to outsiders.
The accounting profession, especially in the US, has lost
credibility and this has serious implications for environmental
reporting. As a number of papers in this volume attest, the amount
of environmental reporting has increased in the period from the
1980s-mid 1990s. However, the value of those disclosures is open to
serious question. The research for most of the papers in this
volume was completed prior to the Enron scandal, but the findings
indicate a need to re-evaluate what is reported about the firm's
relationship to the physical environment.
In the two years since the publication of the last volume of this
series, the planet has witnessed some devastating environmental
events some of which can be attributed to human causes. However, we
have also seen the world uniting (except mainly for the United
States and Australia) to reduce greenhouse gases and hopefully
slowdown global warming. Recognizing that sustainable development
is a way that can lead to well being of the society in the long
run, most of the world has therefore agreed to ratify the Kyoto
Protocol.
There is hope that the USA and other industrialized countries will
ratify the Protocol and all countries including China and India,
which are exempt from emission cuts, will make efforts to reduce
pollution emissions beyond the limit set by the Protocol. Economic
growth in China and India is resulting in a rapid increase in the
greenhouse gas emissions in those countries. It is especially
important that plants in India and China use newer pollution
technologies in generating electricity to meet their energy needs.
Their continued participation in the dialogue is important to
control pollution emissions beyond the Kyoto Protocol.
Environmental issues are multi-faceted and they are being debated
in several disciplines. These issues may be technical, legal,
economical, measurement, managerial, or ethical in nature, and
different disciplines focus on the issues of interest to them.
Accounting is primarily concerned with measurement of
pollution-related performance and cost, and reporting of this
information to stakeholders. Consistent with the goals of
Sarbanes-Oxley Act, it is important that accounting regains its
lost credibility and provides reliablepollution-related information
to the stakeholders so that they evaluate their risk properly. This
volume contains papers which deal with some of the important issues
related to pollution information and should of interest to
investors, management, regulators and other individuals interested
in environmental accounting.
Several papers contained in this volume deal with disclosure of
environmental information. Some papers examine what motivates
environmental disclosures, whereas other examine whether
environmental reporting reflects any real commitment or it is
merely a propaganda ploy. While some firms may be genuinely
interested in reporting their environmental performance correctly,
others may use it as a tool to look good. Another paper in this
issue shows that an alignment of management commitment, strategic
planning and proactive managerial actions result in better
environmental performance and this leads to better return on
investment. Though there is no uniform format for reporting
environmental information, the last paper in this issue provides
discussion on integrating the living systems theory with the
accounting disclosure model. In brief, this issue contains several
interesting articles dealing with different aspects of
environmental disclosures.
*Addresses the Kyoto Protocol on an international level
*Discusses how an accountant measures pollution-related performance
and cost
*Investigates the motive behind disclosure of environmental
information
Advances in Environmental Accounting & Management aims to
advance knowledge of the governance and management of corporate
environmental impacts and the accounting for these, including
issues related to measurement, valuation, and disclosure. It also
aims to increase the awareness of management, accounting
practitioners, investors and other stakeholders of the financial
and social consequences of corporate environmental impacts,
encouraging greater environmental accountability and
responsibility. Researchers and practitioners are encouraged to
submit papers on any social and environmental issue, based on
theoretical and empirical research, conceptual arguments and
descriptive models. Coverage includes, but is not limited to the
following issues: Environmental accounting including, for instance,
issues related to the measurement and valuation of environmental
costs and liabilities. Accountability for environmental issues such
as climate change, water scarcity and biodiversity.
Social/Environmental/Sustainability disclosures, reporting and
assurance. Environmental management and control systems. Social and
ethical investing.
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