Title: Finding the cash flows in the profit-pollution nexus: petroleum refineries in Canada

Authors: Vanessa Magness, Marzieh Sabetjoo, Aziz Guergachi, Muhammad Khalid Gill

Addresses: Ted Rogers School of Business Management, Ryerson University, 350 Victoria Street, Toronto, Ontario M5B 2K3, Canada. ' Ted Rogers School of Business Management, Ryerson University, 350 Victoria Street, Toronto, Ontario M5B 2K3, Canada. ' Ted Rogers School of Business Management, Ryerson University, 350 Victoria Street, Toronto, Ontario M5B 2K3, Canada. ' Faculty of Engineering, Architecture and Science, Ryerson University, 350 Victoria Street, Toronto, Ontario M5B 2K3, Canada

Abstract: This study builds on earlier work in the oil and gas industry that observed a negative relationship between pollution and profit. We argue that new technology lowers the cost of clean operations, and that a reduction in waste-emission enhances revenue streams and reduces the cost of waste treatment.

Keywords: environmental performance; financial performance; resource-based theory; oil and gas industry; critical accounting; profit-pollution nexus; petroleum refineries; Canada; environmental pollution; waste emission; revenue streams; waste treatment; wastewater treatment; environmental accounting.

DOI: 10.1504/IJCA.2010.033433

International Journal of Critical Accounting, 2010 Vol.2 No.3, pp.267 - 288

Published online: 02 Jun 2010 *

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