Title: The contribution of environmental accounting in corporations: evidence from Greece

Authors: Lois Petros; Drogalas George; Tabouratzi Efthalia; Papanaoum Spiros

Addresses: Department of Accounting, Economics and Finance, University of Nicosia, 46 Makedonitissis Avenue, 1700 Nicosia, Cyprus ' Department of Business Administration, University of Macedonia, 156 Egnatia Street, 54636, Thessaloniki, Greece ' Department of Accounting and Finance, Hellenic Mediterranean University (HMU), Estavromenos, 71410, Heraklion, Crete, Greece ' MSc School of Social Sciences, Hellenic Open University, 18 Aristotelous Street, 26335, Patras, Greece

Abstract: The research's purpose was to explore the importance of environmental accounting in Greek enterprises, to describe its role and to define its contribution towards business and state. A questionnaire was used to investigate the issue, which was answered by 126 specialist employees in companies using environmental accounting. Regarding the findings, it was found that it helps to make financial decisions, to comply with the relevant legislation and the main deterrent to its adoption is the difficulty to economically measure the costs to the environment. Environmental accounting is primarily used for energy management and the main costs of enterprises are related to the control of the environmental impact of productive activity. The research's contribution is to prove the necessity of the adaptation of Greek companies to the new environmental conditions, highlighting the important role in administrative and financial decisions, and the preparation of financial statements based on environmental accounting practices.

Keywords: environmental accounting; corporate environmental awareness; incentives to adopt environmental accounting; deterrents; supporting factors.

DOI: 10.1504/JGBA.2022.129057

Journal for Global Business Advancement, 2022 Vol.15 No.3, pp.344 - 368

Received: 03 Dec 2022
Accepted: 06 Dec 2022

Published online: 16 Feb 2023 *

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