ACCG101 Lecture Notes - Lecture 11: Deepwater Horizon Oil Spill, Emissions Trading, Social Accounting
30 May 2018
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Week 11 Sustainability
What is Sustainability?
Sustainable development is ‘development that meets the needs of the present
without compromising the ability of future generations to meet their own needs.
Need for sustainability
- Competition for resources
- Climate change
- Economic globalisation
- Connectivity and
communication
Emphasis on
- Environmental protection
- Social equity
- Economic performance
Limitations of Traditional Accounting
- Focus on economic performance (wages, profit)
- Remain silent on social and environmental issues (pollution, child labour,
social costs to communities)
- How is success calculated? (profitable or socially responsible?)
What we do now:
- Explore the unmarked and unreported voices in social and environmental
issues, and the attributing consequences
Environmental Accounting
Carbon emissions
- Emissions trading scheme (ETS) are designed to control emissions
by allowing participants to trade excess emissions permits
- Carbon tax where a levy is paid based on the amount of emissions of
greenhouse gases (GHGs)
Water accounting
- Australian Water Accounting Standards – provide guidance and explanatory
material to assist in preparing, presenting and assuring general purpose water
accounting reports
Social Accounting
- Began in the 70s and again in the mid 90’s
- Now it is of huge importance that social and environmental accounting
becomes embedded in organisational culture, custom and law
- Involves the preparation and publication of an account about an organisation’s
social, environmental, employee, community, customer and other stakeholder
interactions and activities, and, where possible, the consequences of those
interactions and activities
find more resources at oneclass.com
find more resources at oneclass.com
Document Summary
Sustainable development is development that meets the needs of the present without compromising the ability of future generations to meet their own needs. Remain silent on social and environmental issues (pollution, child labour, social costs to communities) How is success calculated? (profitable or socially responsible?) Explore the unmarked and unreported voices in social and environmental issues, and the attributing consequences. Emissions trading scheme (ets) are designed to control emissions by allowing participants to trade excess emissions permits. Carbon tax where a levy is paid based on the amount of emissions of greenhouse gases (ghgs) Australian water accounting standards provide guidance and explanatory material to assist in preparing, presenting and assuring general purpose water accounting reports. Began in the 70s and again in the mid 90"s. Now it is of huge importance that social and environmental accounting becomes embedded in organisational culture, custom and law.
