ENVIRONMENTAL ACCOUNTING PRACTICES AND SUSTAINABILITY REPORTING IN THE ENERGY SECTOR

ABSTRACT

This study examines the impact of environmental accounting practices on sustainability reporting in Nigeria’s energy sector, focusing on a sample of 9 firms listed on the Nigeria Exchange Group over the period 2020 to 2023. The variables analyzed included environmental cost accounting, carbon accounting, environmental financial accounting and environmental management accounting. Various statistical and econometric tools were applied to analyze the data. The findings revealed a statistically significant relationship between environmental cost accounting and sustainability reporting. While carbon accounting, environmental financial accounting and environmental management accounting have an insignificant impact on sustainability reporting. Based on these findings, the study recommended that organizations should consider integrating more robust environmental cost accounting practices in their operation, companies should assess whether its current integration into sustainability reporting is optimal and Organizations should consider conducting a review of the effectiveness of environmental management accounting tools and methodologies in promoting sustainability goals, ensuring that they support actionable insights for improving sustainability performance.