Research Project Accounting 2022

Running head: ACCOUNTING RESEARCH PROJECT
Accounting Research Project
Name of the Student
Name of the University
Author’s Note

1ACCOUNTING RESEARCH PROJECT
The main aim of this report is the analysis and evaluation of different aspects of
environmental accounting undertaken by certain companies listed in the Australian Securities
Exchange (ASX). For this purpose, this report undertakes the analysis of ten ASX listed
companies for assessing their environmental accounting. More specifically, the environmental
accounting approaches of these companies are compared with each other in order to find the
companies conducting the most effective environmental accounting. In addition, environmental
accounting of these companies is also compared to certain other companies in other countries for
examining the effectiveness of environmental accounting of the ASX listed companies.
Discussion
It has become necessary for the business organizations to provide information on
environmental accounting in their annual reports so that the stakeholders like investors,
shareholders and others can gain information in them (Schaltegger and Burritt 2017). The same
aspect can be seen in case of the Australian ASX listed business organizations since these
companies have taken certain steps as a part of their environmental accounting. It can be seen
that these business have undertaken certain incredible steps as part of environmental accounting
(Schaltegger and Burritt 2017). Some of the environmental accounting initiatives are
management of E-Waste in the most cost effective and sustainable manner through extracting
valuable precious metals, management of harmful toxins and materials that is dangerous for
humans, delivery of environmentally sustainability solutions, utilization of effective technologies
in the most profitable as well as environmentally friendly manner and many others. At the same
time, these business organizations are collaborating with renowned environmental agencies for
providing more environment friendly solutions. Moreover, it needs to be mentioned that some of
these organizations are being considered as the major companies in the world as it is known for
world’s leading emission compliance. However, it can be seen from 2019 and 2018 annual
reports of E2 Metal Limited that the company has provided much information on environmental
accounting (wcsecure.weblink.com.au 2019).
However, the company has disclosed that they have ensured the compliance with all
required environmental legislations since its main operation involves exploration of different
kinds of metals like gold and others (Franzeseet al.2015). It implies that the annual reports of the

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company do not provide any information on its environment accounting activities the name of
the next ASX listed company is Eagle Health Holdings Limited and this company has a
similarity with E2 Metal Limited since both of them have not disclosed much information on
environmental accounting. In the 2018 annual report, the company has mentioned that the
business operation of the company is not subject to any kind of environmental legislations in
Australia and china. This is the only piece of information disclosed by Eagle Health Holdings
Limited as a part of environmental accounting and majority portion of the annual reports of 2019
and 2018 are full of accounting and financial information. This is another crucial aspect in case
of Australian environmental accounting that needs to be taken into consideration. This implies
that in spite of the involvement of major environmental accounting activities, certain companies
like E2 Metal Limited, Eagle Health Holdings Limited and others have not disclosed any
information on these activities in the annual report.These aspects can be considered as ineffective
for the environmental accounting of these companies because of the absence of adequate
information on environmental accounting. This creates significant doubt on the fact that whether
these companies have undertaken any environmental accounting initiative or not. One possible
reason for this could be the publication of separate sustainability or environmental reports where
these companies have disclosed all the necessary information on their environmental accounting
activities in details. Therefore, the investors, shareholders and other stakeholders are required to
access their sustainability reports or environmental reports for gaining information on their
environmental accounting activities. This is a crucial aspect that needs to be taken into
consideration in environmental accounting (Bennett and James 2017).
It needs to be mentioned that these companies have adopted certain innovating as well as
crucial environmental accounting strategies while targeting the broader community (Makori and
Jagongo 2013). Some of the business organizations have been established based on the simple
principle that is a firm commitment towards ensuring better healthcare outcome of the people of
communities across Australian and New Zealand. This is a major environmental accounting
strategy for bringing positive impact on the lives of the people of these two countries (Makori
and Jagongo 2013). For example, the name of Ebos Group Limited can be taken since the
company has been unwaveringly committed towards the overall wellbeing of the people of
community through ensuring increased accessibility to an open range of medicines along with
therapeutic goods and other key healthcare products (ebosgroup.gcs-web.com 2019). This

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initiative of the company is changing the face of environmental accounting in Australia. Key
sustainability initiatives towards community and social responsibility are another key feature of
environmental accounting in Australia. Business organizations are taking initiatives to ensure the
wellbeing of the community in which they operate such as donation to school, colleges, hospitals
and other healthcare, funding different kinds of community awareness events and others. In case
of social responsibilities, some of the major steps that the Australian business organizations are
taking in environmental accounting are reduction in carbon emission, different healthcare
immunization programs and others. Companies operating in the transportation industry, mining
industry and industries that involve large use of different vehicles are providing great emphasis
on carbon emission from the use of their vehicles. For example, Ebos Group Limited has been
able in offsetting hundred per cent of the emission of carbon associated with the use of vehicles
in Australian and New Zealand for business purpose (ebosgroup.gcs-web.com 2019). As a part
of social responsibility, the same company has successfully administered one thousand free flu
vaccines. These are crucial environmental accounting initiatives taken by the Australian business
organizations (Campbell and Tilley 2014).These initiatives can be considered as good aspect in
terms of environmental accounting since these companies are undertaking the necessary steps for
mitigating the impact of their business operation on the environment and society.
Adoption of the appropriate environmental policies, procedures and regulations can be
considered as another crucial step in environmental accounting in these Australian companies.
The main aim behind complying with these environmental rules, policies and procedures is the
promotion of sustainable economic development in all the business segments while ensuring the
measurement of the effects of the business activities on the environment so that the results can be
improved in terms of environmental awareness (Soobaroyen and Ntim 2013). Certain other
objectives of these environmental rules and regulations are the decrease in the use of natural
resources through reuse, reduction in the use of materials or recycling, utilization of recyclable
products and application of environment-friendly business practices to decrease the overall
impact of the business operations on the environment and community. In this case, E-Cargo that
is an ASX listed Australian company can be presented since this company has been
implementing several initiatives in their business related to environmental policies and
procedures; some of these initiatives are utilization of recycling paper, promotion of double-page
printing, promotion of paperless environment, installation of energy-efficient lighting fixtures

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along with sectioned lighting and introduction of energy-saving equipment. At the same time,
there are many business organizations in Australia that do not involve themselves in such
business activities that have material influence on the environment. For example, the names of
the companies like E-Cargo and others can be taken. One important aspect in relation to the
environmental accounting in Australia is the collaboration of the companies with different
international environmental companies as well as agencies for ensuring better environmental
accounting mechanism (asx.com.au 2019). For instance, E3SIXTY has been successful in
establishing international relationship with the companies like Major European Logistics Group,
Lodge Cottrell, AECOM, Squire Patton Boggs, Kemetco and ETech (e3sixty.com.au 2019). At
the same time, it can also be seen that the business organizations of Australia are using modern
technologies in the business operations like mining and others that are largely environment-
friendly as compared to the traditional business operation equipment. For example, E3SIXTY is
using more economically efficient mining equipment for its business operations so that the
overall impact on its mining operations on the environment can be reduced (Ascui 2014).
There are other companies all over the world that have undertaken environmental
accounting on serious basis. Some of them are Tesco Plc., Sainsbury Plc., Exxon Mobil and
others. In case of the environmental accounting of Tesco Plc., its initiatives are developed around
three pillars that are People, Product and Places. The environmental accounting initiatives of
Tesco Plc. are based on these pillars (tescoplc.com 2019). On the other hand, the environmental
accounting of Exxon Mobil is developed around certain aspects like corporate governance;
safety, health and workplace; climate change related risk management, community engagement
and human rights; and local development and supply chain development
(corporate.exxonmobil.com 2019). Almost the same can be seen in case of Sainsbury Plc. The
main environmental accounting operations of this company are developed based on bringing
positive difference to the community, respect to the environment, integrated sourcing and safe
workplace (about.sainsburys.co.uk 2019).
Conclusion
The above discussion involves in the analysis and evaluation of the environmental
accounting practices of the ASX listed companies. It can be seen from the above discussion that

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most of the Australian companies are involved in effective environmental reporting initiatives
and they have provided the information on their environmental accounting initiatives in specific
sections of the annual reports in the forms of social responsibilities, community engagement and
others. These companies have provided significant emphasis to some of the most crucial
environmental accounting issues like betterment of overall community, carbon emission,
betterment of the heath of animals, reduction as well as management of waste, compliance with
the appropriate environmental rules as well as regulations and other. All these initiatives are
important in brining improvement in the environment related issues and other sustainability
related issues. At the same time, it can also be seen from the above discussion that some of the
business organizations have been carried out their business operations in such a manner so that
their business operations do not create any material effects on the environment. In this manner,
they have declared themselves as environmental-friendly companies. The above discussion also
indicates towards such companies that have not disclosed any information on their environmental
accounting activities in the annual report since they have only disclosed their compliance with
the environment rules and regulations.One main reason for this can be the issue of sustainability
reports by these companies that include the information on these companies’ adopted initiatives
for environmental accounting. On the basis of the above whole discussion, it can be said that
E3SIXTY and E-Cargo are two of the best companies among the selected ten companies because
these two companies have taken vast initiatives for environmental accounting and they have
ensured the disclosure of all necessary information of environmental accounting in their annual
reports.

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