Environmental and Social Accounting assists Financial Market to contribute to Sustainable Development
Authors: Sepetis, Anastasios 
Nikolaou, Ioannis 
Sophoulis, C. 
Issue Date: 1-Sep-2005
Conference: 9th International Conference on Environmental Science and Technology, 1-3 September 2005, Rhodes Island, Greece 
Keywords: Financial intermediary and sustainable development, Environmental accounting, Corporate sustainability, Capital market
Abstract: 
Nowadays, financial markets are almost spontaneously playing a central and critical role in implementing the principle of sustainable development. In the financial market, many organizations (companies, banks, insurances etc) make contracts and carry out a vast variety of transactions. The decisions and strategies that are accomplished spontaneously affect environmental conservation, social equity and economic development. From this point of view, the financial market designs and implements policies to enable these organizations bear sustainable practices. A distinct tendency is already evident to transcend spontaneity and follow consciously selected similar strategies and practices. However, the absence of a universally accepted standard method to record environmental and social information is still hindering the integration of theory and practices into a coherent policy and management instrument. For example, the common practice of manipulating “bad” and “good” news in public reports as well as the biased and incomplete disclosure of information about environmental and social issues still reinforces the uncertainty of stakeholders’ decisions (e.g. the investors’ selection of portfolio, Bank’s and Insurance’s lending). Nevertheless, this kind of information is obviously crucial for designing effective decision by financial stakeholders. This paper attempts to contribute to our better understanding of the role that environmental accounting methods play in recording authentic and valid data referring to all aspects of financial information that is essential for the sustainable financial markets’ decision-making.
URI: https://uniwacris.uniwa.gr/handle/3000/2040
Type: Conference Paper
Department: Department of Business Administration 
School: School of Administrative, Economics and Social Sciences 
Affiliation: University of West Attica (UNIWA) 
Appears in Collections:Conference Papers or Poster or Presentation / Δημοσιεύσεις σε Συνέδρια

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