Question

Explain the different ways in which accounting can be used to support environmental and sustainability concerns. Take care to illustrate you answer by reference to at least one relevant example (from the press, lecture discussions guest lecture etc.)

Answer 1

Different ways in which accounting can be used to support environmental and sustainability concerns are as follows:-

Most business activities have environmental impacts.Environmental management accounting uses standard accountancy methods to identify, analyse,manage and reduce these cost in a way that can benefit both the business and environment.

Example- leftover manufacturing materials,in addition to allow a business to operate in a greener,fashion, environmental accounting.

From sustainability to business resilience highlights the important accountants can and must, play in embracing sustainability challenges. It also provides guidance on how to ensure that the organisations that accountants serve are resilient, by linking these challenges to a broader business agenda and strategy.

Example-hazardous waste management.