Empirical Study on Green Accounting Disclosure Practices in Selected Indian Petroleum Companies: Towards Sustainable Enterprise Development
Abstract
Due to environmental concerns and the requirement for long-term company survival, the global petroleum sector must now move toward sustainable business practices. With an emphasis on their contribution to sustainable company growth, this research article offers an extensive empirical analysis into the green accounting disclosure practices of a few Indian petroleum corporations. The research uses a multi-dimensional method, integrating quantitative financial report analysis, business sustainability disclosures, and environmental performance data. To determine the level of green accounting techniques used by these businesses, a broad range of variables, such as carbon emissions, energy efficiency, and environmental spending, are studied. This study assesses the development of green accounting practices and their relationship to financial performance metrics using data collected over a number of years. It also looks at how legal frameworks, global sustainability standards, and activities targeted at certain industries have influenced these disclosure practices. The research's conclusions help to clarify how sustainability is included into the financial reporting of the petroleum business. It illuminates the drivers, difficulties, and advantages of green accounting disclosure for a subset of Indian petroleum businesses and provides insights into the road to sustainable business growth. As they work together to match company operations with environmental and social responsibility objectives, legislators, investors, and sustainability advocates may all benefit from these insights. This empirical research emphasizes the significance of openness, responsibility, and sustainable practices in the petroleum business in the face of global environmental issues. In the end, it emphasizes how important green accounting may be in facilitating the shift to a more robust and sustainable energy industry.
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References
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