Assessing the Influence of Green Accounting Practices on Mining Companies’ Financial Outcomes

Mary Phiri and Newman Wadesango
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Mary Phiri: Department of Accounting, Midlands State University, Zimbabwe
Newman Wadesango: Centre for Academic Excellence, University of Limpopo, Republic of South Africa

CECCAR Business Review, 2024, vol. 5, issue 10, 50-63

Abstract: This paper examined the influence of green accounting policies on financial performance, an area of increasing importance as organizations strive to align financial and environmental objectives. Green accounting, recognized as a vital environmental management tool, informs stakeholders about a company’s ecological practices and concerns, with standards such as ISO 14001 highlighting potential positive impacts on financial outcomes. Despite existing literature suggesting a beneficial link between green accounting and financial performance, this study aimed to investigate this relationship more deeply through a quantitative approach using questionnaires as data collection tools. Data was collected from one mining firm to explore how the adoption of green accounting practices fosters innovations in product design, enhances company reputation, and reduces operational costs. Findings indicate that these policies not only contribute to sustainable practices but also improve financial performance by driving efficiency and brand loyalty. Additionally, the study emphasizes the importance of fostering environmental awareness in host communities to strengthen the relationship between mining companies and local stakeholders. This research offers significant contributions to the literature by providing empirical insights into the mechanisms through which green accounting influences financial outcomes, thereby highlighting its value as a strategic tool in corporate environmental management.

Keywords: green accounting policies; financial performance; environmental accounting; environmental audits (search for similar items in EconPapers)
JEL-codes: M41 M49 Q56 (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:ahd:journl:v:5:y:2024:i:10:p:50-63

DOI: 10.37945/cbr.2024.10.06

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