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international business
Advances In Management

Vol. 5 (9) Sep. (2012)

General Article:

Environmental Accounting and Reporting In India: An Appraisal
Sharma V.K.
New York Institute of Technology, Bahrain Campus, BAHRAIN vks123@gmail.com Abstract

killed over 3,000 people, blinded several thousand and affected over 1,50,000 people.

Earth’s environment is a rich heritage handed over to us by previous generations. The present civilization is involved in varied activities. Many of these activities generate waste with potential constituents. The ultimate disposal of the waste leads to environmental pollution.
One of the significant buzzwords emerging out of the globalization and privatization paradigms has been corporate social responsibility. Responsibility towards environment has become one of the most crucial areas of social responsibility. We have witnessed environmental degradation during the recent years.
Environmental pollution is a worldwide phenomenon.
In many parts of the world, the magnitude of pollution of environment has already reached an alarming level.
It spoils human health, reduces economic productivity and leads to loss of amenities. Now-a-days, consumers expect firms to meet high health and safety standards for workers, respect human rights, protect the interests of consumers and meet environmental standards.

This concern had been repeatedly expressed in a series of international summits right from the sixties. Between 1968 and 1972, two international conferences met to assess the problems of the global environment and to suggest corrective action. For the first time the World Conference on global environment was held in June, 1972 and it was considered the pivotal event in the growth of the global environment movement. It was the first occasion on which the political, social and economic problems of the global environment were discussed at an inter-governmental forum with a view to taking corrective action. It aimed at



References: 25- 46 (2005) 2 "Accountants’ Attitudes and Environmental-sensitive Accounting", Accounting and Business Research, 24 (94), 109-20 (1994) Publisher, London (1990) 4 Reports, The Chartered Accountant, XLV (7) Jan. (1996) 5 McGraw Hills International Edition (1994) When the actual amount charged to operations in the Transparency and Sustainability", Accounting, Organizations and Society, 17 (5), 399-425 (1992) 7. Gupta S. K. and Mehra A., Contemporary Issues in Accounting, Ludhiana, Kalyani Publishers (2002) Mandatory Standards for Sustainability Reporting (2006) 10 11. Paul K. C. and Pal B., “Corporate Environmental Reporting in India, Indian Accounting Review, December, 27- 45 (2001) Association, December (2004) Environmental accounting should form a part of Intergovernmental Working Group of Experts on International Standards of Accounting and Reporting (1991). (Received 25th May 2012, accepted 18th July 2012) (65)

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