Strategic Green Accounting and CSR Analytics: A Framework for Integrating Environmental Responsibility Into Business Strategy

Abstract

Green accounting is a system that integrates the costs and the benefits attached with the environment. It shows the inclusion of such costs and benefits in the traditional accounting strategies and their methodology. Including the advantages and disadvantages, it becomes of vital impact to discuss the effect of green accounting on financial statements and its analysis. Green accounting strategies come of great benefit to the customers, public, investors, as they get a complete image of the company. The investors are informed of the reaped advantage, policies followed, reduction in risk, and optimum resource allocation. Many firms strategize in such alignments to increase their customer base and attract more customers on the basis of analytics. Other stakeholders like NGOs and other promotional firms get complete access to such information which leads to increase in the disclosure requirement of the companies. Hence, many investors, having rights in the shareholding, compel the management to follow such steps for the betterment of the society.