A Framework for Environmental Reporting Through Financial Statements

18 Pages Posted: 16 Sep 2010

Date Written: December 16, 2008

Abstract

Since the 1990’s there have been several proposals worldwide concerning environmental reporting, but few of them are related to environmental reporting through financial statements. Nowadays there is still a need for a proposal that encompasses key environmental concepts, underlying principles, qualitative characteristics, and the specific regulatory treatment of environmental costs and liabilities for reporting through annual financial statements.

Recently, the Federation of European Accounting Experts (FEE) has made a proposal for a comprehensive conceptual framework (underlying principles and qualitative characteristics) for environmental reporting, while the United Nations Division for Sustainable Development has proposed the use of specific environmental management accounting (EMA) tools for internal and external accounting recognition of environmental costs and revenues.

Furthermore, the Commission of European Communities has made a recommendation for the regulatory treatment (recognition, measurement and disclosure) of environmental costs and liabilities through financial statements. In this work, one links the three previous proposals in order to propose a comprehensive process for environmental reporting through financial statements.

Keywords: Social Responsibility, Environmental Reporting, Environmental Management

JEL Classification: M14, M49

Suggested Citation

Mongrut, Samuel A. and Tong Chang, Jesus, A Framework for Environmental Reporting Through Financial Statements (December 16, 2008). Available at SSRN: https://ssrn.com/abstract=1677989 or http://dx.doi.org/10.2139/ssrn.1677989

Jesus Tong Chang

affiliation not provided to SSRN ( email )

No contact information is available for Samuel A. Mongrut

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