This document discusses corporate social responsibility and compliance with regulations in Nigeria. It begins by introducing the topic and concepts of corporate social responsibility, environmental accounting, and stakeholders. It then provides details on Nigeria's regulatory framework for the environment, including various laws and regulations. However, it notes that environmental policies are rarely enforced in Nigeria due to lack of political will and corruption. The document examines the role of stakeholders in protecting the environment and achieving sustainable development.
Addressing Sustainability Exposures through Corporate Social Responsibility i...ijtsrd
There has been considerable progress in holding companies accountable for their social responsibility performance. However, progress on socio economic and environmental impact of their practices has been more limited thereby creating an atmosphere of unfavorable business conduct and sustainability exposures. The absent of internationally recognized standards of corporate social responsibility in Nigeria have further aggravated the issue. There have also been little to no report on corporate responsibility in relation to enterprises overall economic relevance to the economy, import dependency, corruption, labour standards and eco efficiency in Nigeria. To this end, the study examined the extent to which organizations' corporate social responsibility tackles sustainability exposure as required by the Global Reporting Initiative. Survey and content analysis designs were used. Data were collected from primary and secondary sources of six Nigerian companies. T test and ANOVA were also used for the hypotheses tests. It was discovered that organizations' corporate social responsibility significantly addresses sustainability exposure through Global Reporting Initiative and other results. It was recommended that companies in Nigeria should adopt the global reporting initiative as a means of observing their corporate social responsibility. Regulatory authority should as a matter of urgency ensure that companies report on their sustainability impacts on the economy. Bassey Ekpo | Emmanuel E. Okon | Sunny B. Beredugo "Addressing Sustainability Exposures through Corporate Social Responsibility in Nigeria: An International Perspective" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-3 | Issue-5 , August 2019, URL: https://www.ijtsrd.com/papers/ijtsrd26644.pdfPaper URL: https://www.ijtsrd.com/management/other/26644/addressing-sustainability-exposures-through-corporate-social-responsibility-in-nigeria-an-international-perspective/bassey-ekpo
International Journal of Engineering Research and Development (IJERD)IJERD Editor
journal publishing, how to publish research paper, Call For research paper, international journal, publishing a paper, IJERD, journal of science and technology, how to get a research paper published, publishing a paper, publishing of journal, publishing of research paper, reserach and review articles, IJERD Journal, How to publish your research paper, publish research paper, open access engineering journal, Engineering journal, Mathemetics journal, Physics journal, Chemistry journal, Computer Engineering, Computer Science journal, how to submit your paper, peer reviw journal, indexed journal, reserach and review articles, engineering journal, www.ijerd.com, research journals,
yahoo journals, bing journals, International Journal of Engineering Research and Development, google journals, hard copy of journal
The Challenges of Microfinance Institutions in Empowering Micro and Small Ent...Mercu Buana University
This study aims to examine the challenges of microfinance institutions (MFIs) in empowering micro and small entrepreneur to concern and care not only for the business growth but also the environmental sustainability in their surroundings. Indonesia as developing countries also faces the environmental degradation that contributes by micro and small entrepreneurs. Moreover MFIs have substantial relationships in term to preserve the environment because of the objectives are not only achieve the profit but also balancing with the social (people) and environment (planet) achievement and MFIs clients also micro and small entrepreneur who as the majority contributor of environment degradation in developing countries. The discussion of the paper is determined by three research questions (i) What’s the role of MFIs in preserving the environment? (ii) How the role of corporate governance in MFIs? (iii) How the implementation of corporate governance in MFIs in empowering micro to implementing green activity (Indonesia evidence)? In addition, to ensure the commitment of MFIs should exist corporate governance, which supervise the compliance with Act No.1 2013 related to the sustainability concern from MFIs because until now the impact of the act has not given the significant impact yet because of the importance is not only the existence of regulation but also the consciousness all stakeholders related to comply and implementing of green activity.
Addressing Sustainability Exposures through Corporate Social Responsibility i...ijtsrd
There has been considerable progress in holding companies accountable for their social responsibility performance. However, progress on socio economic and environmental impact of their practices has been more limited thereby creating an atmosphere of unfavorable business conduct and sustainability exposures. The absent of internationally recognized standards of corporate social responsibility in Nigeria have further aggravated the issue. There have also been little to no report on corporate responsibility in relation to enterprises overall economic relevance to the economy, import dependency, corruption, labour standards and eco efficiency in Nigeria. To this end, the study examined the extent to which organizations' corporate social responsibility tackles sustainability exposure as required by the Global Reporting Initiative. Survey and content analysis designs were used. Data were collected from primary and secondary sources of six Nigerian companies. T test and ANOVA were also used for the hypotheses tests. It was discovered that organizations' corporate social responsibility significantly addresses sustainability exposure through Global Reporting Initiative and other results. It was recommended that companies in Nigeria should adopt the global reporting initiative as a means of observing their corporate social responsibility. Regulatory authority should as a matter of urgency ensure that companies report on their sustainability impacts on the economy. Bassey Ekpo | Emmanuel E. Okon | Sunny B. Beredugo "Addressing Sustainability Exposures through Corporate Social Responsibility in Nigeria: An International Perspective" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-3 | Issue-5 , August 2019, URL: https://www.ijtsrd.com/papers/ijtsrd26644.pdfPaper URL: https://www.ijtsrd.com/management/other/26644/addressing-sustainability-exposures-through-corporate-social-responsibility-in-nigeria-an-international-perspective/bassey-ekpo
International Journal of Engineering Research and Development (IJERD)IJERD Editor
journal publishing, how to publish research paper, Call For research paper, international journal, publishing a paper, IJERD, journal of science and technology, how to get a research paper published, publishing a paper, publishing of journal, publishing of research paper, reserach and review articles, IJERD Journal, How to publish your research paper, publish research paper, open access engineering journal, Engineering journal, Mathemetics journal, Physics journal, Chemistry journal, Computer Engineering, Computer Science journal, how to submit your paper, peer reviw journal, indexed journal, reserach and review articles, engineering journal, www.ijerd.com, research journals,
yahoo journals, bing journals, International Journal of Engineering Research and Development, google journals, hard copy of journal
The Challenges of Microfinance Institutions in Empowering Micro and Small Ent...Mercu Buana University
This study aims to examine the challenges of microfinance institutions (MFIs) in empowering micro and small entrepreneur to concern and care not only for the business growth but also the environmental sustainability in their surroundings. Indonesia as developing countries also faces the environmental degradation that contributes by micro and small entrepreneurs. Moreover MFIs have substantial relationships in term to preserve the environment because of the objectives are not only achieve the profit but also balancing with the social (people) and environment (planet) achievement and MFIs clients also micro and small entrepreneur who as the majority contributor of environment degradation in developing countries. The discussion of the paper is determined by three research questions (i) What’s the role of MFIs in preserving the environment? (ii) How the role of corporate governance in MFIs? (iii) How the implementation of corporate governance in MFIs in empowering micro to implementing green activity (Indonesia evidence)? In addition, to ensure the commitment of MFIs should exist corporate governance, which supervise the compliance with Act No.1 2013 related to the sustainability concern from MFIs because until now the impact of the act has not given the significant impact yet because of the importance is not only the existence of regulation but also the consciousness all stakeholders related to comply and implementing of green activity.
Environmental issues in the context of urban povetyMahtabAlam80
Localized environmental health problems such as inadequate household water and sanitation and indoor air pollution. City-regional environmental problems such as ambient air pollution, inadequate waste management and pollution of rivers, lakes and coastal areas.
Integrating Environmental Accounting in Agro-Allied and Manufacturing Indust...IJMER
ONLY WHEN THE LAST TREE IS CUT, ONLY WHEN THE LAST RIVER IS POLLUTED, ONLY WHEN THE LAST FISH IS CAUGHT, ONLY THEN WILL THEY REALIZE THAT YOU CANNOT EAT MONEY’ American proverb
Due to growing awareness and concern on the impact of human activity on the ecosystem, there is an
increasing trend to judge organizations in relation to the community in which it operates. The impact of the activities on the environment with regard to pollution of water, air, land and abuse of natural resources are coming under scrutiny of governments, stakeholders and citizens. Education is considered the key to effective development strategies and TVET institutions then must be the master
key that can alleviate poverty, promote peace, conserve the environment, improve the quality of life
for all and help achieve sustainable development. Unless proper accounting work is done, it cannot be determined that both have been fulfilling their responsibilities. The aim of the study was to explore whether distinctive processes of environmental accounting are possible in agro-allied and
manufacturing industries with a view to enhancing sustainability. To accomplish this aim, this research explores environmental accountability practices in TVET institutions. This paper is in part of an exploratory research project and it is limited in that it attempts to be illuminative and theoretically driven. The paper aims to prove that environmental reporting and disclosure will
enable in agro-allied and manufacturing industries undertake a major transformation that includes
approaches that harmonize economic prosperity, environmental conservation and social well-being.
However, while strategies for achieving this goal are not widespread, a range of international experiences is beginning to suggest ways forward. These initiatives include national TVET policy reforms, green campus, green curriculum, green community, green research and green culture. The paper includes suggested templates that can be useful in agro-allied and manufacturing industries
The influence of politics on environmental managementcaxtonk2008
Politics is part and parcel of environmental management
This calls for integration of political and environmental aspects in environmental management
It also calls for proper understanding of legislations and other political aspects in order to ensure effective and sustainable management processes
Key Components of Indonesia's Forest and Land GovernanceAksi SETAPAK
The Asia Foundation’s SETAPAK program is focused on
improving forest and land governance in Indonesia. Good
forest and land governance will allow Indonesia’s decentralized
governance to ensure transparency and accountability in the
management, protection and distribution of benefits from
natural resources to achieve pro-poor sustainable growth.
This briefing paper outlines six processes and mechanisms
that are key components of good forest and land governance
in Indonesia. Embedded in Indonesia’s forest and land
governance systems, these processes and mechanisms
include spatial planning, allocating licenses for land
concessions (such as for logging and mining activities, and
palm oil and timber plantations), environmental safeguards,
budgets for environmental management, monitoring land use
and enforcement of relevant laws and regulations.
A Corporate Social Responsibility, generally noted by “CSR”, refers to a corporation's initiatives to assess and take responsibility for the company's effects on environmental and social well-being. It generally applies to efforts that go beyond what may be required by regulators or environmental protection groups. Governments seeking to advance sustainable development are increasingly turning to policies and strategies that encourage, support, mandate, or directly demonstrate more socially and environmentally sound business practices. A central component of these policies involves promoting increased transparency of economic activities.
Social impact assessment (SIA) includes the processes of analyzing, monitoring and managing
the intended and unintended social consequences, both positive and negative, of planned
interventions (policies, programs, plans, projects) and any social change processes involved by
those interventions ( According to the International Association for Impact Assessment).In case
of fisheries science Social Impact Assessment is a method of gauging the social and cultural
consequences of alternative fishery management actions or policies. The purpose and logic of the
SIA are the same as those for the economic and ecological elements of environmental impact
analysis and assessment. An impact assessment determines (social/cultural) conditions in areas
or populations likely to be affected by the regulatory action or policy; projects future effects of
continuing the status quo; and then estimates effects, relative to the status quo, that will result on
local, regional, and national scales if reasonable fishery management alternatives are
implemented.
This slideshow looks at the efficacy of Corporate Social Responsibility (CSR) agreements and two brief case studies in Bolivia and Ecuador. It also considers what a "new story" of humanity on Earth could look like, offering a historically supported alternative to the "tragedy of the commons."
The objective of the study is to examined Corporate Social Responsibility Disclosure in quoted money deposit
Banks in Nigeria. The research design used for this study is historical research design. The design was used so as to
capture relevant information from annual financial statement of quoted companies. The population of the study
consists of Twenty one (21) deposit money banks in Nigeria and a sample of eight commercial banks was randomly
selected using convenient sampling technique. Data were analyzed using ordinary least squares regression. The
findings of this research indicate an existence of negative relationship between firm complexity and environmental
disclosed in the Nigerian banking sector. It also indicates the existence of positive relationship between earnings and
CSR disclosure in the Nigerian banking sector and that bank size was negatively related to the extent of corporate
social responsibility disclosure by Nigerian banks. The implication of these findings is that as bank increase its
activities they should also be concern with the well-being of the environment which they operate. Finally, the study
recommends that banks should focus on activities that will synchronize its corporate goals with the sustainability of
the environment
Thanks to all my readers. It gives boost when I get calls from my readers and am always happy to revert back to my followers and readers. I am sorry if I am unable to reply to all the e-mails due to my busy schedule.
Contact me for any type of assignments help(nominal charges).
Thanks and Regards,
Er. Bhavi Bhatia
e-mail: bhavi.bhatia.411@gmail.com
Phone: +91-9779703714, +91-9814614666
Integrating Environmental Accounting in Agro-Allied and Manufacturing Industr...IJMER
‘ONLY WHEN THE LAST TREE IS CUT, ONLY WHEN THE LAST RIVER IS
POLLUTED, ONLY WHEN THE LAST FISH IS CAUGHT, ONLY THEN WILL THEY REALIZE
THAT YOU CANNOT EAT MONEY’ American proverb
Due to growing awareness and concern on the impact of human activity on the ecosystem, there is an
increasing trend to judge organizations in relation to the community in which it operates. The
impact of the activities on the environment with regard to pollution of water, air, land and abuse of
natural resources are coming under scrutiny of governments, stakeholders and citizens. Education is
considered the key to effective development strategies and TVET institutions then must be the master
key that can alleviate poverty, promote peace, conserve the environment, improve the quality of life
for all and help achieve sustainable development. Unless proper accounting work is done, it cannot
be determined that both have been fulfilling their responsibilities. The aim of the study was to explore
whether distinctive processes of environmental accounting are possible in agro-allied and
manufacturing industries with a view to enhancing sustainability. To accomplish this aim, this
research explores environmental accountability practices in TVET institutions. This paper is in part
of an exploratory research project and it is limited in that it attempts to be illuminative and
theoretically driven. The paper aims to prove that environmental reporting and disclosure will
enable in agro-allied and manufacturing industries undertake a major transformation that includes
approaches that harmonize economic prosperity, environmental conservation and social well-being.
However, while strategies for achieving this goal are not widespread, a range of international
experiences is beginning to suggest ways forward. These initiatives include national TVET policy
reforms, green campus, green curriculum, green community, green research and green culture. The
paper includes suggested templates that can be useful in agro-allied and manufacturing industries
Environmental Sustainability Accounting and the Performance of Oil and Gas Co...ijtsrd
This research paper seeks to establish Environmental sustainability Accounting and the performance of Oil and Gas Companies in Rivers State, Nigeria. To achieve the objective of the study, hypotheses were formulated, and a review of related literature was made. The hypotheses were tested using multiple regression analysis with the aid of E View, using a 5 level of significance. Based on the findings of this study, we conclude that the disclosure of human resources disclosure and environmental sustainability disclosure significantly affect the financial performance of oil and gas companies in Rivers State. It was recommended among others that the government should put in place suitable legislation for all companies to make adequate disclosure of their activities to the Environment, and firms should formulate and implement environmentally friendly policies. Isaac Laime Odogu | Timinipre Joseph Okpobo "Environmental Sustainability Accounting and the Performance of Oil & Gas Companies in Rivers State, Nigeria" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-6 | Issue-5 , August 2022, URL: https://www.ijtsrd.com/papers/ijtsrd50644.pdf Paper URL: https://www.ijtsrd.com/management/accounting-and-finance/50644/environmental-sustainability-accounting-and-the-performance-of-oil-and-gas-companies-in-rivers-state-nigeria/isaac-laime-odogu
Environmental issues in the context of urban povetyMahtabAlam80
Localized environmental health problems such as inadequate household water and sanitation and indoor air pollution. City-regional environmental problems such as ambient air pollution, inadequate waste management and pollution of rivers, lakes and coastal areas.
Integrating Environmental Accounting in Agro-Allied and Manufacturing Indust...IJMER
ONLY WHEN THE LAST TREE IS CUT, ONLY WHEN THE LAST RIVER IS POLLUTED, ONLY WHEN THE LAST FISH IS CAUGHT, ONLY THEN WILL THEY REALIZE THAT YOU CANNOT EAT MONEY’ American proverb
Due to growing awareness and concern on the impact of human activity on the ecosystem, there is an
increasing trend to judge organizations in relation to the community in which it operates. The impact of the activities on the environment with regard to pollution of water, air, land and abuse of natural resources are coming under scrutiny of governments, stakeholders and citizens. Education is considered the key to effective development strategies and TVET institutions then must be the master
key that can alleviate poverty, promote peace, conserve the environment, improve the quality of life
for all and help achieve sustainable development. Unless proper accounting work is done, it cannot be determined that both have been fulfilling their responsibilities. The aim of the study was to explore whether distinctive processes of environmental accounting are possible in agro-allied and
manufacturing industries with a view to enhancing sustainability. To accomplish this aim, this research explores environmental accountability practices in TVET institutions. This paper is in part of an exploratory research project and it is limited in that it attempts to be illuminative and theoretically driven. The paper aims to prove that environmental reporting and disclosure will
enable in agro-allied and manufacturing industries undertake a major transformation that includes
approaches that harmonize economic prosperity, environmental conservation and social well-being.
However, while strategies for achieving this goal are not widespread, a range of international experiences is beginning to suggest ways forward. These initiatives include national TVET policy reforms, green campus, green curriculum, green community, green research and green culture. The paper includes suggested templates that can be useful in agro-allied and manufacturing industries
The influence of politics on environmental managementcaxtonk2008
Politics is part and parcel of environmental management
This calls for integration of political and environmental aspects in environmental management
It also calls for proper understanding of legislations and other political aspects in order to ensure effective and sustainable management processes
Key Components of Indonesia's Forest and Land GovernanceAksi SETAPAK
The Asia Foundation’s SETAPAK program is focused on
improving forest and land governance in Indonesia. Good
forest and land governance will allow Indonesia’s decentralized
governance to ensure transparency and accountability in the
management, protection and distribution of benefits from
natural resources to achieve pro-poor sustainable growth.
This briefing paper outlines six processes and mechanisms
that are key components of good forest and land governance
in Indonesia. Embedded in Indonesia’s forest and land
governance systems, these processes and mechanisms
include spatial planning, allocating licenses for land
concessions (such as for logging and mining activities, and
palm oil and timber plantations), environmental safeguards,
budgets for environmental management, monitoring land use
and enforcement of relevant laws and regulations.
A Corporate Social Responsibility, generally noted by “CSR”, refers to a corporation's initiatives to assess and take responsibility for the company's effects on environmental and social well-being. It generally applies to efforts that go beyond what may be required by regulators or environmental protection groups. Governments seeking to advance sustainable development are increasingly turning to policies and strategies that encourage, support, mandate, or directly demonstrate more socially and environmentally sound business practices. A central component of these policies involves promoting increased transparency of economic activities.
Social impact assessment (SIA) includes the processes of analyzing, monitoring and managing
the intended and unintended social consequences, both positive and negative, of planned
interventions (policies, programs, plans, projects) and any social change processes involved by
those interventions ( According to the International Association for Impact Assessment).In case
of fisheries science Social Impact Assessment is a method of gauging the social and cultural
consequences of alternative fishery management actions or policies. The purpose and logic of the
SIA are the same as those for the economic and ecological elements of environmental impact
analysis and assessment. An impact assessment determines (social/cultural) conditions in areas
or populations likely to be affected by the regulatory action or policy; projects future effects of
continuing the status quo; and then estimates effects, relative to the status quo, that will result on
local, regional, and national scales if reasonable fishery management alternatives are
implemented.
This slideshow looks at the efficacy of Corporate Social Responsibility (CSR) agreements and two brief case studies in Bolivia and Ecuador. It also considers what a "new story" of humanity on Earth could look like, offering a historically supported alternative to the "tragedy of the commons."
The objective of the study is to examined Corporate Social Responsibility Disclosure in quoted money deposit
Banks in Nigeria. The research design used for this study is historical research design. The design was used so as to
capture relevant information from annual financial statement of quoted companies. The population of the study
consists of Twenty one (21) deposit money banks in Nigeria and a sample of eight commercial banks was randomly
selected using convenient sampling technique. Data were analyzed using ordinary least squares regression. The
findings of this research indicate an existence of negative relationship between firm complexity and environmental
disclosed in the Nigerian banking sector. It also indicates the existence of positive relationship between earnings and
CSR disclosure in the Nigerian banking sector and that bank size was negatively related to the extent of corporate
social responsibility disclosure by Nigerian banks. The implication of these findings is that as bank increase its
activities they should also be concern with the well-being of the environment which they operate. Finally, the study
recommends that banks should focus on activities that will synchronize its corporate goals with the sustainability of
the environment
Thanks to all my readers. It gives boost when I get calls from my readers and am always happy to revert back to my followers and readers. I am sorry if I am unable to reply to all the e-mails due to my busy schedule.
Contact me for any type of assignments help(nominal charges).
Thanks and Regards,
Er. Bhavi Bhatia
e-mail: bhavi.bhatia.411@gmail.com
Phone: +91-9779703714, +91-9814614666
Integrating Environmental Accounting in Agro-Allied and Manufacturing Industr...IJMER
‘ONLY WHEN THE LAST TREE IS CUT, ONLY WHEN THE LAST RIVER IS
POLLUTED, ONLY WHEN THE LAST FISH IS CAUGHT, ONLY THEN WILL THEY REALIZE
THAT YOU CANNOT EAT MONEY’ American proverb
Due to growing awareness and concern on the impact of human activity on the ecosystem, there is an
increasing trend to judge organizations in relation to the community in which it operates. The
impact of the activities on the environment with regard to pollution of water, air, land and abuse of
natural resources are coming under scrutiny of governments, stakeholders and citizens. Education is
considered the key to effective development strategies and TVET institutions then must be the master
key that can alleviate poverty, promote peace, conserve the environment, improve the quality of life
for all and help achieve sustainable development. Unless proper accounting work is done, it cannot
be determined that both have been fulfilling their responsibilities. The aim of the study was to explore
whether distinctive processes of environmental accounting are possible in agro-allied and
manufacturing industries with a view to enhancing sustainability. To accomplish this aim, this
research explores environmental accountability practices in TVET institutions. This paper is in part
of an exploratory research project and it is limited in that it attempts to be illuminative and
theoretically driven. The paper aims to prove that environmental reporting and disclosure will
enable in agro-allied and manufacturing industries undertake a major transformation that includes
approaches that harmonize economic prosperity, environmental conservation and social well-being.
However, while strategies for achieving this goal are not widespread, a range of international
experiences is beginning to suggest ways forward. These initiatives include national TVET policy
reforms, green campus, green curriculum, green community, green research and green culture. The
paper includes suggested templates that can be useful in agro-allied and manufacturing industries
Environmental Sustainability Accounting and the Performance of Oil and Gas Co...ijtsrd
This research paper seeks to establish Environmental sustainability Accounting and the performance of Oil and Gas Companies in Rivers State, Nigeria. To achieve the objective of the study, hypotheses were formulated, and a review of related literature was made. The hypotheses were tested using multiple regression analysis with the aid of E View, using a 5 level of significance. Based on the findings of this study, we conclude that the disclosure of human resources disclosure and environmental sustainability disclosure significantly affect the financial performance of oil and gas companies in Rivers State. It was recommended among others that the government should put in place suitable legislation for all companies to make adequate disclosure of their activities to the Environment, and firms should formulate and implement environmentally friendly policies. Isaac Laime Odogu | Timinipre Joseph Okpobo "Environmental Sustainability Accounting and the Performance of Oil & Gas Companies in Rivers State, Nigeria" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-6 | Issue-5 , August 2022, URL: https://www.ijtsrd.com/papers/ijtsrd50644.pdf Paper URL: https://www.ijtsrd.com/management/accounting-and-finance/50644/environmental-sustainability-accounting-and-the-performance-of-oil-and-gas-companies-in-rivers-state-nigeria/isaac-laime-odogu
This study examines empirically the relationship between corporate social responsibility and financial performance of some selected banks in Nigeria with the use of secondary data, sourced from six (6) selected banks annual reports and accounts using Judgemental sampling in a population of fifteen (15) Banks. Financial summary between “2002-2011” i.e. ten (10) years period and NSE FACT Book were used to obtain data. The objective of this study is to examine the impact of banks financial performance on Corporate Social Responsibility. The study utilized multiple regressions for the analysis of collected data, findings from the analysis of selected banks show that financial performance (PAT, ROCE, EPS) have significant positive impact on corporate social responsibility, and the collinearity test show that there is no Multicollinearity between the independents variables. The Independent Variables are PAT, ROE, ROA, EPS and ROCE which constitute indicators of banks financial performance while the Dependent variables are Philanthropic, Economic, Legal and Ethical Responsibilities (CSR). It is recommended that Nigerian banks should embrace the culture of CSR and government should established laws and regulations to oblige financial institutions or rather banks in Nigeria to give adequate attention to social responsibility, social accounting and put in place strong mechanisms and institutions to monitor compliance and if possible determine the quantum amount of charitable contribution to be reported in their annual reports and accounts by providing index or range.
International Journal of Business and Management Invention (IJBMI) is an international journal intended for professionals and researchers in all fields of Business and Management. IJBMI publishes research articles and reviews within the whole field Business and Management, new teaching methods, assessment, validation and the impact of new technologies and it will continue to provide information on the latest trends and developments in this ever-expanding subject. The publications of papers are selected through double peer reviewed to ensure originality, relevance, and readability. The articles published in our journal can be accessed online.
The study analyzed the effect of corporate social responsibility on the financial performance of
organizations in Nigeria with emphasis on the construction companies. The population constitutes four
construction companies who are the leaders in the business.
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𝐓𝐉 𝐂𝐨𝐦𝐬 (𝐓𝐉 𝐂𝐨𝐦𝐦𝐮𝐧𝐢𝐜𝐚𝐭𝐢𝐨𝐧𝐬) is a professional event agency that includes experts in the event-organizing market in Vietnam, Korea, and ASEAN countries. We provide unlimited types of events from Music concerts, Fan meetings, and Culture festivals to Corporate events, Internal company events, Golf tournaments, MICE events, and Exhibitions.
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"𝐄𝐯𝐞𝐫𝐲 𝐞𝐯𝐞𝐧𝐭 𝐢𝐬 𝐚 𝐬𝐭𝐨𝐫𝐲, 𝐚 𝐬𝐩𝐞𝐜𝐢𝐚𝐥 𝐣𝐨𝐮𝐫𝐧𝐞𝐲. 𝐖𝐞 𝐚𝐥𝐰𝐚𝐲𝐬 𝐛𝐞𝐥𝐢𝐞𝐯𝐞 𝐭𝐡𝐚𝐭 𝐬𝐡𝐨𝐫𝐭𝐥𝐲 𝐲𝐨𝐮 𝐰𝐢𝐥𝐥 𝐛𝐞 𝐚 𝐩𝐚𝐫𝐭 𝐨𝐟 𝐨𝐮𝐫 𝐬𝐭𝐨𝐫𝐢𝐞𝐬."
[Note: This is a partial preview. To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
Leading companies such as Nike, Toyota, and Siemens are prioritizing sustainable innovation in their business models, setting an example for others to follow. In this Sustainability training presentation, you will learn key concepts, principles, and practices of sustainability applicable across industries. This training aims to create awareness and educate employees, senior executives, consultants, and other key stakeholders, including investors, policymakers, and supply chain partners, on the importance and implementation of sustainability.
LEARNING OBJECTIVES
1. Develop a comprehensive understanding of the fundamental principles and concepts that form the foundation of sustainability within corporate environments.
2. Explore the sustainability implementation model, focusing on effective measures and reporting strategies to track and communicate sustainability efforts.
3. Identify and define best practices and critical success factors essential for achieving sustainability goals within organizations.
CONTENTS
1. Introduction and Key Concepts of Sustainability
2. Principles and Practices of Sustainability
3. Measures and Reporting in Sustainability
4. Sustainability Implementation & Best Practices
To download the complete presentation, visit: https://www.oeconsulting.com.sg/training-presentations
Putting the SPARK into Virtual Training.pptxCynthia Clay
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11.corporate social responsibility and compliance with regulations in nigeria
1. Research Journal of Finance and Accounting www.iiste.org
ISSN 2222-1697 (Paper) ISSN 2222-2847 (Online)
Vol 3, No 2, 2012
Corporate Social Responsibility and Compliance with
Regulations in Nigeria
Leyira, Christian Micah
Department of Accounting
University of Portharcourt, Nigeria;
Uwaoma Ironkwe Esq
Department of Accounting
Univeristy of Porthcourt, Nigeria
Olagunju , Adebayo(Corresponding author)
Department of Financial Studies
Redeemer’s University, Mowe, Nigeria
Email: olagunju66@yahoo.com
Introduction
The effect of different industrial sector activity on the environment varies enormously but it is an
incontrovertible statement that damages are been done to the environment world wide. Environmental
concerns rarely form an integral part of development plans particularly in third world countries like
Nigeria. The realization that sustainable development can only be achieved through interdependence
between economic growth and environmental quality through compliance with existing regulations has
compelled some governments to now regard the environment as valued and integral part of Economic
growth. Hence, environmental problems have become a priority by Government both in domestic and
international scene.
However, environmental policies and regulations are not lacking but are rarely enforced especially in
Nigeria. The inability of Government to implement stringent environmental regulations is compounded
by the fact that the goals of most corporate organizations are purely economic. Little attention is
devoted to their social responsibilities. Corruption is another aspect. Most corporate bodies saddled
with the responsibilities of implementing these regulations lack the political will to do so.
This paper attempts to discuss the concept and history of corporate social responsibility, environment,
stakeholders and sustainable development, regulatory framework and corporate social responsibility
and environmental audit.
The Concept of Corporate Social Responsibility
Corporate social responsibility is also known as social accounting, social and environmental accounting
and Non-financial reporting. It emphasizes the notion of accountability. Crowder(2000:20) defines
social accounting as “an approach to reporting a firm’s activities which stresses the need for
identification of socially relevant behaviour, the determination of those to whom the company is
accountable for its social performance and the development of appropriate measures and reporting
techniques”
Corporate social responsibility is often used as an umbrella term (Wikidepia, the free Encyclopedia)
to describe a broad field of research and practice, the use of more narrow term to express a specific
interest is thus not uncommon. For instance, Environmental accounting is a subset of social accounting,
focuses on the cost structure and environmental performance of a company. It principally describes the
preparation, presentation, and communication of information related to an organization’s interaction
with the natural environment.
Accounting for impacts on the environment may occur within a company’s financial statements,
relating to liabilities, commitments and contingencies for the remediation of contaminated lands or
other financial concerns arising from pollution. Such reporting essentially expresses financial issues
arising from environmental legislation.
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Thus, corporate social responsibility, a largely normative concept, seeks to burden the scope of
accounting. It points to the fact that companies influence their external environment (both positively
and negatively) through their actions and should therefore account for these effects as part of their
standard accounting practices.
Organizations are seen to benefits from implementing social accounting practice in a number of ways
e.g. increased information for decision making, maintaining legitimacy, more accurate product or
service costing etc. according to Business in the community (BITC) the “process of reporting on
responsible business performance to stakeholders” (i.e. social accounting) helps integrate such
practices into business practices, as well as identifying future risks and opportunities.
History of Corporate Social Reporting/Social Accounting
Modern forms of social accounting first produced wide spread interest in the 1970s. Its concepts
received serious consideration from Professional bodies including professional Accounting Standards
Board’s Predecessor, the American Institute of Certified Public Accountants, and Business
representative bodies e.g. the Confederation of British Industry (ICAEW 1975; CBI 1971; AICPA
1977 cited in Wikipedia)
Abt Associates, the American Consultancy firm, is one of the foremost businesses that experimented
with social Accounting. In the 1970s Abt Associates conducted a series of social audits incorporated
into its annual reports. The social concerns addressed included “productivity, contribution to
knowledge, employment security, fairness of Employment opportunities, health, education and self
development, physical security, transportation, recreation and environment(Blake,Frederick,Myers
176: 149) the social audits expresses Abt Associates performance in this areas in financial terms and
thus aspired to determine the company’s net social impact in balance sheet form (Harvard Business
Review 1973 : 42 – 43) other examples of early applications include Laventhal and Horvarth a
reputable firm, and the first National Bank of Minneapolis( now U.S Bancorp) (Blake etal: 149) .
Yet, social accounting practices were only rarely codified in Legislation. The French bilan social
and the British 2006 Companies Act poses a significant exception(Gray 2000: 5) Interest in social
accounting cooled off in the 1980s and was only resurrected in the mid 1990s, partly matured by
growing ecological and environmental awareness (Gray 2000 : 9)
The Environment and Stakeholders
The environmental stakeholders are under moral and legal obligations to protect and enhance the
natural environment. They can do this by combating destructive environmental projects; promoting
environmental sustainability of natural resources, good environmental policy/practice; and striving for
environmental justice. The environmental stakeholders include the government and its regulatory
Agencies the projects proponents, the local communities, the non governmental organization (NGO’s)
and the general public. In essence, every one is a stakeholder in the environment. The government has
a major role to play in providing national regulatory framework for integrating development and
conservation.
The government should:
i. Establish a comprehensive system of Environmental law and provide for its implementation
and enforcement by all stakeholders.
ii. Review the adequacy of legal, political and administrative controls concerning
implementation and enforcement mechanisms.
iii. Ensure the national policies development plans and programmes, budgets and other decisions
take full account of their on the environment.
iv. Use economic incentive or disincentive as appropriate to achieve sustainability.
The environmental stakeholders will create credible and trusted framework (GRI 2009) largely because
of the way they are created; through a multi-stakeholder, consensus seeking approach. This means that
representatives from a broad cross section of society – business, civil society, labour, accounting
investors, academics, governments, and others – from all around come together and achieve consensus
on what guidelines on environment should contain. Organizations typically initiate different types of
stakeholders’ engagement as part of their regular activities, which can provide useful inputs for
decision on reporting. These may include stakeholder engagement for the purpose of compliance with
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internationally- agreed standards, or informing ongoing organizational business processes. In addition,
stakeholders’ engagement may also be implemented specifically to inform the report preparation
process.
Intermediation between Environment and Sustainable Development
Environmental degradation is largely caused by man’s activities and can also be a consequence of
man’s hazards. The result is that natural process of ecosystem is altered and possibly damaged
irreparably. When the environment becomes degraded, all forms of life are threatened (Farinloye 2006
cited in the Punch, July 24 pg 16,2006). Also, Osibanjo (1998: 150) refers to the environment as
“man’s immediate surrounding’s (that is, water, air, land including associated living and non-living
resources) which provides life support system for mankind”. This definition implies that the
environment provides the natural resources on which national economies are built and sustained.
Accordingly and for conceptual analysis, the ethical, social, political, technological, legal, etc
environments can be distinguished. The social environment consists of attitudes, desires, expectations,
degrees of intelligence and education, beliefs and customs of people in a society or group. The political
and legal environment refers to laws, regulations and government agencies. The ethical environment,
which can be subsumed under the social environment, includes set of generally accepted and practiced
standards of personals conduct (Koontz and Weihrich, 1988:30).
Thus, the goal of sustainable development is to “meet the needs of the present without compromising
the ability of future generations to meet their own needs (Sustainability Reporting Guidelines, SRG).
As key forces in society, organizations of all kinds have an important role to play in achieving this
goal. Yet, in this era of unprecedented economic growth, achieving this goal can be seen more of an
aspiration than a reality. As economies globalize, new opportunities to generate prosperity and quality
of life arise through trade, knowledge sharing, and access to technology. However, these opportunities
are not always available for an ever increasing human population and are accompanied by new risks to
the stability of environment. Statistics demonstrating positive improvements in the lives of many
people around the world are counter-balanced by alarming information about the state of the
environment. Thus, the sustainability has been stressed to be of utmost importance in achieving
sustainable development (Mc McCarthy 1992: 5). The Brundt land Report ( World Commission on
Environment and Development, 1987) commissioned by the United nations to examine long term
environmental strategies, likewise argued that economic development and environmental protection,
could be made compatible but that this would require radical change in economic practices throughout
the world (Welford and Stanchan,2005 : 551 ). The report concluded that business policy needs to be
proactive and not reactive such that intergenerational considerations and long-term environmental
protection are observed.
Sustainable development poses a challenge to industry to produce higher levels of output using lower
levels of input and generating less waste.
Regulatory Framework and Corporate Social Responsibility
I. General Perspective
The Global Reporting Initiative (GRI) produces the world’s defacto standard in sustainability reporting
guidelines. Sustainability reporting is the action where an organization publicly communicates their
economic, environmental and social sustainability reporting by all organizations as routine as and
comparable to financial reporting. The GRI Guidelines are the most common framework used in the
world reporting. As of January 2009, more than 1500 organizations
(http/www.glpbalreporting.org/about GRI) from 60 countries use the Guidelines to produce their
sustainability reports. Reporting on sustainability performance is an important way for organizations to
manage their impact on sustainable development. The challenges of sustainable development are many,
and it is widely accepted that organizations have not only a responsibility but also a great ability to
exert positive change on the state of the world’s economy, and environmental and social condition.
Reporting leads to improved sustainable development outcomes because it allows organizations to
measure, track, and improve their performance on specific issues. Organizations are much more likely
to effectively manage an issue that they can measure.
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i. The Nigeria Experience
The basis of environmental policy in Nigeria is contained in the 1999 Constitution of the Federal
Republic of Nigeria. Pursuant to section 20 of the constitution, the state is empowered to protect and
improve the environment and safeguard the water, air, kind, forest and wildlife of Nigeria. In addition
to this, section 20 of Environmental Impact Assessment Act of 1992 (EIA Act) provides that the public
or private sector of the economy shall not undertake, embark on or authorize projects or activities
without prior consideration of the effect on the environment.
The Federal Government of Nigeria has promulgated various laws and regulations to safeguard the
Nigerian Environment. These include
1. Federal Environmental Protection Agency Act of 1988(FEPA ACT ) The following regulations
were made by the FEPA ACT
a) National Environmental Protection (Effluent Limitation) Regulations.
b) National Environmental Protection ( Pollution Abatement in industries and facilities Generating
waste) regulations and
c) National Environmental Protection (Management of solid and Hazardous waste) regulations.
d) Environmental Impact Assessment Act of 1992 (EIA ACT)
e) Harmful waste (special criminal protections etc) Act of 1988 (Harmful waste ACT).
The Federal Ministry of Environment (FME) administers and enforces environmental laws in
Nigeria. It took over this function in 1999 from the Federal Environmental Protection Agency
(FEPA) which was created under the FEPA ACT was absorbed and its functions taken over the
FME in 1999.
Other regulatory agencies with oversight functions on specific industries have also issued
guidelines to regulate the impact of such industries on the environment such as the Environmental
Guidelines and Standards for the Petroleum Industry in Nigeria (EGASPIN) 2002, published by
the Department of Petroleum Resources (DPR). However, pursuant to FEPA ACT, each state and
local government in the country may set up its own environmental protection body for the
protection and improvement of the environment within the state. Each is also empowered within
its jurisdictions. All the state laws; for example, Abuja, the federal capital territory has issued the
Abuja Environmental Protection Board (Solid Waste Control/Environmental Monitoring)
Regulation 2005, ( the Abuja Environmental Protection Board Regulations) which principally
governs solid waste control in Abuja. In Lagos State, the Lagos State Environmental Protection
Agency Law, was enacted to establish the Lagos State Environmental protection (LASEPA),
LASEPA’s function includes monitoring and controlling the disposal of waste in Lagos State and
advising the State government on all environmental management policies. Lagos State government
has also enacted Environmental pollution control law, to provide for the control of pollution and
protection of the environment from abuse due to poor waste management. Akwa Ibom State has
enacted the Environmental Protection and Waste Management Agency law, which establish the
Environmental protection and waste management Agency. This Agency is charged with
responsibilities which include identifying and proffering solution to and enforcing environmental
protection standards and regulations.
Regrettably, the EIA procedure of August 1994 devised and contrived by the regulatory body is
deficient and defective. In most cases, the provisions in the EIA procedure step outside the ambits
of the EIA ACT (Tayo: 2008:1). The faulty EIA procedure and vagaries of administrative fiats are
being used to undermine the EIA ACT. Hence there is a legacy of environmental degradation and
public impairments arising from the projects whose approvals were purportedly obtained under the
EIA ACT. The failings of the regulator in this respect give rise to violent agitations in the oil
bearing communities, to assert their rights to healthy and unpolluted environment.
The EIA practice in Nigeria (in its present form) is a show case for corruption and infraction of
the EIA Act. Also, the public access to information through the public registry is yet to be
honoured in compliance since the commencement of the EIA Act in 1992.
Regrettably, the Niger Delta Local communities, more than not, are unable to make informed
contributions and decisions on projects affecting their environment accordance with the laws of the
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land. So they make recourse to violent agitations and the oil companies cash in on the justifiable
reaction of the local communities to invite security agencies to unleash mahem and terror on them.
The multinational oil and gas industry gives itself moral and legal authority to regulate its own
activities and also dictates to the government agencies regarding the regulatory regime. This
enables the law to be prostituted to the greedy oil and gas industry. Consequently, the
multinational views collaboration with local communities as an undue burden on it rather than a
means to develop a productive rapport with its social environment. It was on this backdrop that
shell faced a suit in its home based on accusations that its operations have led to environmental
damage in Nigeria. The suit which was brought by four Nigerian fishermen and farmers along with
friends of the earth focused on the activities in the Niger Delta region, (Business Report, No.140,
dated 6 November ,2008) Friends of the Earth have said they hope the lawsuit will make the
company take notice, being brought for the first time in a Dutch Court. The group alleged that the
Company disregarded actions brought against it in Nigerian Courts.
According to the suit, oil spills had resulted in soil and water that could not be used for Agriculture
of fishing, even nearly three years after the spillage occurred.
Environmental Audit
The ultimate aim of environmental auditing is to safeguard the environment and minimize the risks
to human health.
Glantier, etal (2002 pg.430) considered environmental audit as an essential management tool
which compels companies not to wait for restrictive legislation to bring about change. As green
consciousness grows and develops, more companies are beginning to evaluate both its commercial
implications and the impact any legislation and regulation could have for their operations.
It is in the light of the above reasoning that Vark Murksalu (a senior manger of auditing
standards in Canada) as reported by Jeffery (2000:9) asserts that:
Auditors are examining financial statement items that reflect environmental matters such as the
cost of initiatives to prevent, abate, or remedy damage to the environment, and the consequences
of violating environmental damage done by others or to natural resources.
In other for the auditors to perform the above stated duties with ease. Veneables (2002.394)
suggested the following Qualities of a good Auditor in environmental Auditing.
As with all operational auditing, it is necessary for the internal auditor to have an extensive
understanding of the organization, its culture markets, operations, products and people. There is
also a need to comprehend the environmental policy fully and especially its rationale. The internal
auditor must be able to identify with the objective of the corporate policy. The plan for
environmental audits should cover regular review of policy to verify that appropriate revisions are
being made for changes in environmental threats, public attitudes, legislation or circumstances of
the institute of chartered Accountants.
As regards guidelines for the auditing of financial statements affected by environmental matters
Jeffery (2000:2), suggests the following:
Understanding of the client’s business, assessing risk and understanding internal control
environmental perspective. Gray (2003:511) recommends the following steps for environmental
audit.
1. Existing legislative requirements in health, safety practices and forth coming regulatory
developments are analyzed.
2. Internal procedures and external requirements are examined, compared and contrasted the
implications of external requirements on production processes and equipment are
assessed and the impact in terms of waste and emission are evaluated. Employee safety
will also be examined.
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3. The organizational structure, administration and communication processes of the
company are analyzed to determine the extent to which management is informed of the
(and can therefore control) environmental impact of the company’s activities.
Conclusion
In the developed countries, compliance with environmental standards is best achieved not only
when government regulators enforce the law, but also with strong community pressure both
on the operators and on the government agencies. The western legal system allows affected
groups to be heard in administrative procedure and gives them standing in litigation. In
Nigeria, there are frequently less political and legal avenues for the participation of local
communities and NGO’s in the administrative, political and judicial decision- making process
regarding environmentally sensitive facilities.
Since 1990’s there has been recurring instability in the Niger Delta, especially, which account
for 90 percent of crude oil produced in the country? This had negatively impacted on gross
Domestic product and stymied growth in the sector. The disturbance had also led to an
increase in unemployment and negated the drive for direct foreign investment, as the country
is perceived insecure.
Nigeria does have policies on environmental management, but in practice leaves little to be
desired as the provision enshrined in the various instruments of intervention are rarely
enforced, due to inadequate human resource; inadequate and mismanaged funds, low degree
of public awareness of environmental issues; corruption on the part of enforcement officers.
Et cetera.
Therefore, to build a sustainable economic society with low environmental impact, tighter
regulation and better enforcement of existing environmental laws would help stem
degradation of the environment and prevent future occurrence. Also, existing Laws on
Environmental matters should be reviewed to conform to current social expectations since the
law is dynamic and is a veritable instrument of social change.
Companies should disclose annually, reports on the role played by them in environmental
protection; such information reflects their social responsibilities and their inclination to protect
the interest of both the present and future generation.
References
Blake etal, Social Auditing P. 149
D Crowder (2000:20):Social and Environmental accounting (London, Financial Times Prentice Hall).
Farinloye I (2006): Disasters; Man’s plea of guilt. The Punch, July 24, pg 15
G 3 Guidelines (SRG); World Commission on Environment and Development our common Future
Oxford: Oxford university press, 1978. p43
Gray, etal. Current Developments, pg 17
Gray RH, DL Owen and Adams (1996): Accounting and Accountability: changes and challenges in
Corporate Social and Environmental Reporting (London: Prentice Hall)
Global Reporting Initiative (GRI) :pp.2000-2006
Ikporukpo (2001:76-86) The human Environment, In Government, Society and the Economy an
Introduction to Social Sciences, faculty of Social Sciences. Ibadan.
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Vol 3, No 2, 2012
Koontz H and Weirich (1988): Management. Mc Graw Hill, New york.
Mccarthy (1992:10-11): Downing out the alarm bell of Global warming. The times, Weekend review,
May 30
Official Home Page of Encyclopedia of nations (2006): From –http/www.wikipedia. org- Oct 13, 2006
Osibanjo, O (1998: 150- 165) Industrial Pollution, workers health and the environment In poverty,
Health, and the Nigerian Environment. A Oshuntogun Ed) FEDEN: Lagos
Tayo. A. (2008:2) The Environmental Impact Assessment Practice in Nigeria: The journey so far
Welford, R and stachan P.A(2005: 551-604): Environmental issues and corporate environmental
management. In management concepts and practices. T Hannagan (Ed) Prentice Hall. London
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