Effects of Circular Economy Practices and Accounting Innovations on Sustainable Development Goals

Disraeli Asante-Darko (), Samuel Ato Dadzie (), Amoako Kwarteng (), Sena Agbodjah () and Theodora Ekua Aryee ()
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Disraeli Asante-Darko: Ashesi University
Samuel Ato Dadzie: Ghana Institute of Management and Public Administration (GIMPA)
Amoako Kwarteng: Ghana Institute of Management and Public Administration (GIMPA)
Sena Agbodjah: Academic City University College
Theodora Ekua Aryee: Ashesi University

Circular Economy and Sustainability, 2024, vol. 4, issue 4, 3059-3092

Abstract: Abstract The purpose of this study is to explore the implications of organizational-level circular economy practices and accounting innovations on the realization of sustainable development goals (SDGs). Grounded in institutional logic theory and utilizing survey data from 221 Ghanaian firms, this study employs structural equation modeling for its statistical analysis. The results underscore that both the circular economy and accounting innovation exert a substantial positive influence on the attainment of SDGs. Specifically, these factors directly affect SDGs such as SDG1, SDG2, SDG6, SDG7, SDG8, SDG12, SDG13, SDG14, and SDG15. Moreover, externalities, defined as adverse global occurrences like pandemics, negatively moderate the association and applicability of the circular economy and accounting innovation to SDGs’ achievement. This study enriches the academic discourse surrounding circularity, accounting innovation, and SDGs. Through the lens of institutional logics, it posits that the overarching objectives of the circular economy and SDGs align closely, emphasizing the pursuit of economic growth without jeopardizing the natural environment. Furthermore, it posits that accounting innovations are pivotal in steering the journey towards SDG ideals, considering that sustainable development should be approached as a dynamic continuum of change, with innovation as its cornerstone. The study also highlights that externalities, such as detrimental global events, possess the potential to impede advancements aimed at achieving SDGs.

Keywords: Circular Economy; Accounting Innovation; SDGs; Externalities; Ghana (search for similar items in EconPapers)
Date: 2024
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DOI: 10.1007/s43615-024-00468-1

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