Other Titles: | Η περιβαλλοντική και κοινωνική λογιστική βοηθά τη χρηματοπιστωτική αγορά να συμβάλει στη βιώσιμη ανάπτυξη |
Authors: | Sepetis, Anastasios Nikolaou, Ioannis |
Editors: | Nikolaou, Ioannis |
Translator: | Sepetis, Anastasios |
Publisher: | Springer |
Issue Date: | 15-Jan-2015 |
Conference: | 9th International Conference on Environmental Science and Technology, 1-3 September 2005, Rhodes Island, Greece |
Is Part of: | Environmental and Social Accounting |
Series: | Accounting |
Keywords: | Financial intermediary and sustainable development, Environmental accounting |
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. |
Notes: | 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. |
ISSN: | 1234-5678 |
URL: | 338375213_ENVIRONMENTAL_AND_SOCIAL_ACCOUNTING_ASSISTS_FINANCIAL_MARKET_TO_CONTRIBUTE_TO_SUSTAINABLE_DEVELOPMENT |
URI: | https://uniwacris.uniwa.gr/handle/3000/2053 |
Type: | Conference Paper |
Project: | ΔΡΑΣΕΙΣ ΗΛΕΚΤΡΟΝΙΚΗΣ ΔΙΑΚΥΒΕΡΝΗΣΗΣ «Επέκταση και Εμπλουτισμός με νέες Υπηρεσίες της Κεντρικής Υποδομής για την παροχή Ολοκληρωμένου Περιβάλλοντος Βιβλιοθήκης ως Υπηρεσίας – (ILSaS+)» ΠΑΝΕΠΙΣΤΗΜΙΟ ΔΥΤΙΚΗΣ ΑΤΤΙΚΗΣ |
Department: | Department of Early Childhood Education and Care |
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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