Green Corporate Accounting Practices: A special reference to Indian Corporate Sector
With the beginning of the industrial era man has been continuously damaging the environment
and ruining the ecology. The achievement of sustainable development remains the greatest
challenge faced by the human race. Besides the successful story of economic growth and
progress over past generation many people still live in poor conditions and suffer from
inadequate access to resources such as health and educational services, land asset and
infrastructural facilities which are required to give to those people a change for better life.
Sustainable development is the form of development which aims at sustainable consumption
and sustainable economic growth and tries to protect the environment. Due to challenges of
global warming, nations and people these days have all time high concern for environmental
protection and a new format of business has emerged as Green Business. This has led to a need
for consistent, decisive Environmental accounting principles. Environmental accounting,
which entails a subset of GAAP, presents additional, valuable information about non-monetary
transactions to provide a more holistic picture of both financial activity and associated risks.
This paper tries to bring the out need for environmental accounting in today’s corporate