Environmental Management Accounting

Married Working women have increased over a period of time and the stereotype care taking of children has taken its break. Today there is high demand for taking care of children's of working parents. This necessitated the establishments of numerous day care or child care centers. To rightly say, this industry is facing a cut-throat competition which leads to pooling in of finance from many sources for its smooth working. This paper analyses as to how the day care center operators manage their funds required to operate their business, what are its sources, expenditure, cost and pricing strategy, profitability and awareness of the role of financial institution in day care business. The reason behind this study is find out on an average what is the day care fees prevailing among the respondents in Bangalore, how funds are managed in day care business and how it is earning profits for its owner, having the fact known that the demand for the same is more. Day care, being a women centric business, this research also focuses on finding out what kind of government aid and financial institutions' help it is receiving. For this purpose, the required data was collected through distributing questionnaire to fifty day care centers in Bangalore. For the purpose of comparison, secondary data was also reviewed.

Environmental Management Accounting (EMA) is concerned
with physical and monetary information, therefore enabling a new type of analysis that supports decision making while considering the environmental dimension. However, for an organization to apply EMA is necessary to meet business requirements and therefore the potential benefits and likely costs of the implementation should be assessed in the first place. The first objective of this paper is to highlight the reasons for implementation of EMA
referring to eco-efficiency, cost-effectiveness, investment appraisal, strategic positioning and compliance. The second is to presents a high-level blueprint for EMA implementation for a theoretical company and highlight the factors that influence the success of the implementation. The conclusions suggest that given the multitude of EMA methodologies, comparative studies might shed more light for practitioners.

The idea of writing this book occurred to us a long time back but not in a planned way. Having understood the importance of sustainability accounting education, in 2012, at the Department of Accounting, University of Sri Jayewardenepura, Sri Lanka, we introduced an elective course unit on Sustainability Management Accounting (SMA), perhaps for the first time in an undergraduate course in the country. As a part of this course unit, the students had to develop a case study on SMA aspects of a selected organization. When visiting various organizations for data collection purposes with students, I witnessed how Sri Lankan companies implemented various environmental management strategies with the help of accounting/numbers. Though very little is written about them, these organizations were doing remarkably well in many respects. When the Department of Accounting held a Forum on Sustainability Management Accounting in 2014 with the primary purpose of educating the business professionals on this emerging field of accounting, we published these case studies in a Special Issue of the Journal of Accounting Panorama on the theme of  Sustainability Management Accounting in Sri Lanka.

At the Institute of Certified Management Accountants (CMA) National Management Accounting Conference, in June 2014, we pioneered another project to publish Environmental Management Accounting (EMA) Guidelines for  Sri Lankan Enterprises. These guidelines were well received by the Sri Lankan business professionals and, in August 2014, I conducted a workshop on Adopting Environmental Management Accounting based on these guidelines. Through these guidelines and the workshop we attempted to address the “What” question with Sri Lankan business professionals in mind. While disseminating  knowledge of  this discipline through these various means, we felt it was  important to address the “How” question also keeping Sri Lankan and international readers in mind. Over the years of our experience with industry engagement, we  observed how EMA was applied by Sri Lankan enterprises in different ways. However, little was recorded on how and to what extent EMA was being applied in Sri Lanka or in emerging economies. Therefore we thought it was timely to showcase Sri Lankan examples of EMA applications.  This was  even highlighted when the Department of Accounting, University of Sri Jayewardenepura, was hosting the Global Conference of Environmental and Sustainability Management Accounting Network (EMAN) in January 2015 in Colombo for the first time in the South Asian Region  .

I was fortunate to have a set of students (they are now graduates working in different organizations) from the first batch of the Sustainability Management Accounting course unit, who were inspired to engage in an arduous project of this nature.  After perusing the literature, we first decided on the chapter plan of this book. The chapters were arranged to showcase EMA practices in different environmental domains such as energy, water, waste and carbon footprint. We originally desired to include a chapter on bio-diversity management and EMA, but due to various practical limitations we had to abandon the topic. The next challenge came when we decided on the industry sectors to be covered under these environmental domains.  Though the industries were mainly selected on accessibility criteria we attempted to maintain a mix of industries in each chapter. Ultimately we realized that we had been a little biased towards the apparel industry, but due to its  importance  in Sri Lanka we thought it was alright to leave it  that way.

The next biggest challenge was when collecting data for the study. In addition to time constraints we had several other obstacles to overcome. Though we wanted to explore the Sri Lankan enterprises, when collecting data we came across a challenge over the generic definition of “Sri Lankan enterprises”. Some companies who follow noteworthy EMA practices have been largely influenced by the guidelines of their foreign parent companies. Since we wanted to showcase Sri Lankan practices, we decided to select only companies with a Sri Lankan ownership and control (I doubt whether the term “indigenous Sri Lankan enterprises” is the correct word here). Due to this delineation we had to exclude many companies that were pioneers in environmental management in the country. We also encountered another problem with regard to EMA practices. Some companies follow initiatives that are of a pure CSR nature and those projects do not have any relationship with the core businesses. Therefore we had to ignore these EMA practices for which there is no business case.

Except for a few exceptions, we visited all the companies described in the book to witness these practices at first hand. We interviewed several managers of each company in charge of these practices.  We used an interview guide to better structure our interviews.  Moreover, we always referred to various other documents as a means of triangulation. We were surprised when some companies were not at all hesitant to share their very confidential information with us to build our cases.  Now, in retrospect, we realized that we had been collecting data for this study over a period of minimum two years, albeit not at the same level of intensity. When collecting data we found that these companies were at different levels of the development stages of EMA. This phenomenon revealed that in some companies there were sophisticated EMA systems in certain environmental domains, while in other domains EMA was e at primitive levels. However, since our focus was on environmental domains we did not have much of a problem here.

As I mentioned in the second paragraph the objective of this book is to showcase Sri Lankan EMA practices. An international reader might question why Sri Lanka is important for him/her. Though we have internal validation, we thought it necessary to have some ground for justifying the selection of Sri Lanka. Although the following list is not exhaustive, it provides some justifications for our selection. The list below highlights the natural endowments of Sri Lanka and the challenges to preserve the natural environment while pursuing  economic development:

This paper examines the impact of environmental accounting on sustainable development in Nigeria. The study used content analysis research design. The extant literature reviewed that the efforts made by the Nigerian companies to make environmental disclosures deserve appreciation, but in most cases the quality and quantity of disclosures are not satisfactory as observed that environmental accounting has positive impact on sustainable development in Nigeria. The paper concludes that the impact of environmental accounting is that organizations can track their environmental data and other green house gas (GHG) emission against reduction targets, and facilitates environmental reporting to provide sustainability related data that is comprehensive, auditable, and timely to advance and strengthen the interdependent and mutually reinforcing pillars of sustainable development-economic development, social development and environmental protection in Nigeria. The paper recommends that a standard should be developed by regulatory bodies to guide the practices of Environmental Accounting.

Accounting for environmental tangible services can be measurable and accounted for in the books of accounting. Accounting for final environmental services is important to public policy because those services contribute significantly to human welfare and are not captured in existing welfare accounts. Even though Cost accounts include both tangible and intangible costs, it has failed to include environmental costs that are hidden and bound to be incurred in the future and considered as contingency costs. The nineteenth century engineers' concern with true cost are misplaced and believed to be a " scientific " approach to identifying causes and effects. Environmental cost management is becoming increasingly important in many organizations because such costs are increasing day by day due to regulatory requirements involving heavy

Di era yang semakin modern, dunia industri terus berkembang dan semakin kompleks.
Perkembangan tersebut memberikan dampak terhadap unsur-unsur lain di sekitar industri
tersebut berada khususnya lingkungan. Industri yang semakin maju berdampak pada semakin
parahnya kerusakan lingkungan akibat pencemaran limbah, penambangan, eksplorasi minyak
bumi dan batu bara dan lain-lain. Ikatan Akuntan Indonesia telah mengeluarkan beberapa
PSAK terkait dengan akuntansi lingkungan. Dengan dikeluarkannya PSAK tersebut dunia
industri mau tidak mau harus mengikuti apa yang telah diatur dalam PSAK tersebut. PSAK
terkait akuntansi lingkungan dikeluarkan dengan tujuan untuk menjamin bahwa perusahaan
telah melaksanakan kewajibannya dalam pemulihan kerusakan lingkungan akibat operasi
perusahaan. Penelitian ini dilaksanakan dengan tujuan untuk menjamin bahwa perusahaan
telah mengikuti standar yang ditentukan IAI dalam menerapkan akuntansi lingkungan sebagai
salah satu pertanggungjawaban lingkungan. Penelitian ini dilakukan dengan menggunakan
data kualitatif dengan mendeskripsikan objek yang diteliti. Hasil penelitian menunjukan
bahwa perusahaan secara umum telah melaksanakan PSAK khususnya no 57 terkait dengan
provisi yang timbul akibat operasi perusahaan, jumlah provisi tersebut tergantung pada
ukuran perusahaan. Dengan penelitian ini diharapkan dapat menjadi salah satu alternatif
pemecahan masalah pertanggungjawaban lingkungan dalam rangka menambah nilai bagi
perusahaan.
Kata Kunci: Akuntansi Lingkungan, Nilai Perusahaan, Pernyataan Standar Akuntansi
Keuangan, Pertanggungjawaban Lingkung

Enacting Environments is an ethnography of the midst of the encounter between corporations, sustainable development and climate change. At this intersection 'environmental management' and 'carbon accounting' are put into practice. Purportedly, these practices green capitalism. Drawing on fieldwork of day-to-day practices of corporate environmental accountants and managers, Ingmar Lippert reconstructs their work as achieving to produce a reality of environment that is simultaneously stable and flexible enough for a particular corporate project: to stage the company, and in consequence capitalism, as in control over its relations to an antecedent environment. Not confined to mere texts or meetings between shiny stakeholders co-governing the corporation – among them some of the world's biggest auditing firms, an environmental non-governmental organisation (NGO) and standards – control is found to be distributed across as well as limited to a myriad of practical work situations, involving spreadsheets and slide shows. Carbon accounting takes place in the midst of docile as well as dissident humans and nonhumans. As a result of this analysis, Enacting Environments establishes how carbon emission facts are produced and co-configure climate change realities. Ingmar Lippert argues: within capitalism, environment does not exist in the singular but in the plural; and these environments are not existing out there to be read off some anterior Nature but they are brought into social, economic and political existence in the practices of accounting for them. Providing a portfolio of methods to study techno-managerial engagement with carbon, Ingmar Lippert shows how much is overlooked in received theories of corporate environmental accounting, theories of the performativity of environmental economics and, ultimately, the epistemic and ontic effects of fact-making in the heart of neoliberal capitalism.

cite as: Ingmar Lippert (2013). Enacting Environments: An Ethnography of the Digitalisation and Naturalisation of Emissions. PhD Dissertation in Sociology, University of Augsburg, Augsburg.

Worldwide natural resources such as coal and water are becoming scarcer each year. Individuals as well as companies need to use natural resources sparingly and responsibly, and decrease waste production. It is not only about the usage of resources, but also about the waste that occurs as a result thereof. Management accounting improves decision-making as it communicates decision-relevant insight and analysis to every decision-maker in a company, focussing on their social and environmental duties. The annual statements on the websites of the Top 10 South African companies in 2014 were analysed and compared to 2012, 2008, and 2003. A „Word cloud‟ was created for each year based on sixteen key words to determine whether awareness grew with regard to for instance sustainability and the environment. This paper is conceptual and exploratory in nature as it highlights the demand on natural resources as well as the steps that can be taken to minimise the impact on natural resources. Companies seem to become more aware of what they do to the environment and would like to take action where ever they can in order to be acceptable to investors. In the early 1980s companies did what is referred to as call “green washing” to comply with legalities. However it seems that this has now changed to a true awareness and “green” companies are becoming more and more competitive due to their truly environmentally friendly activities. In order to assist companies to become even more aware of waste and their environmental responsibility, they may need to be made more aware of the use of management accounting tools such as Activity Based Costing (ABC) and Material Flow Cost Accounting (MFCA) simultaneously.
Keywords: Environmental management accounting (EMA), Material Flow Cost Accounting (MFCA), environmental efficiency, Activity Based Costing (ABC), water footprint, energy, carbon, waste.

This research builds on the complementary corporate social responsibility (CSR) literatures in strategy and marketing to provide insight into the efficacy of CSR as a challenger's competitive weapon against a market leader. Through an investigation of a real-world CSR initiative, we show that the challenger can reap superior business returns (i.e., more positive attitudinal and behavioral outcomes) among consumers who

This paper concerns the currently popular issue of integrated reporting of
public companies. The aim of the paper is to identify the previously discussed topics in the Polish-language journals and collective works on integrated reporting and to specify the main conclusions formulated by their authors on the basis of empirical research. The next aim of this paper is identification research areas that require deeper studies using detailed empirical methods. Also, the paper explains the specifics of creating an environmental impact assessment, which is specialized assessment required by environment protection law and is a reliable
source of non-financial information about future investments of the company. In view of the results obtained so far, empirical research needs to be progressed on integrated reporting, particularly in the context of the determination of reliable sources of non-financial information of adequate quality, which - in conjunction with the financial information - will be useful when making investment decisions by investors.
Keywords: Intergrated reporting; environmental impact assessment; environmental decision.

Environmental sustainability in the company: what relationship between voluntary disclosure and internal management? The dimension of environmental sustainability within the business activities represents a theme of growing importance. This paper analyses the relationship between "voluntary disclosure environmental" and "internal environmental management" in order to understand if and how the two dimensions are related and consistent with each other. The internal environmental management is considered, in particular, as the company's attention towards environmental sustainability as part of the systems internal decisions and implementation of sustainability practices. From the theoretical point of view, the study identifies four categories representative of possible associations, making use of a matrix representative of the high-low two dimensions indicated and defined in accordance with previous studies. The test sample is represented by forty-four companies operating in sectors considered at high environmental impact. The results show a prevalence of internal environmental management practices than the voluntary disclosure.

As the industries and their production have grown in India over the years, the risk of sustainability increases because industries have been polluting the environment at an alarming rate. The industries are hence contributing to the pollution of the environment which raises the question of their regulation and monitoring. Various countries have mandated environmental reporting to be furnished to stakeholders in the companies' annual reports through Environmental Management Accounting (EMA). This provides an insight into the activities of the company towards preservation of natural resources and environment. Environmental Reporting has still been in its nascent stage in India which provides scope for standardization of rules and regulations. This paper hence understands the concept and importance of EMA and problems faced in its adoption. Also, this study studies the Environmental Disclosures practices in ACC Cement.

With an increase in the number of the companies that have adopted the ISO 14001 standard, the interest demonstrated in research studies regarding the assessment of the motives for and benefits from the ISO 14001 standard implementation has also been increasing. Nevertheless, in spite of the importance of the ISO 14001 standards, a discussion on their importance and the role of accounting in this process yet remains an open issue among researchers and practitioners. Starting from the above said, the main purpose of the research conducted in this paper is to identify the motives for and benefits from the implementation of the ISO 14001 standard and to examine the role of accounting in the implementation process. The empirical research in this paper was performed on the example of the 33 companies that have the obligation to submit their data on the sources of environmental pollution to the National Pollution Register. The data were collected through a poll of the management of the companies via a questionnaire, whereas the data analysis was performed by using various quantitative statistical methods and techniques, and primarily through the application of descriptive statistics and non-parametric tests. The results of the research indicate that the primary motives for the introduction of the ISO 14001 standards are an environmental responsibility, creating the image of a socially responsible company and the improvement of performances, whereas the benefits can be synthesized through the improvement of environmental performances, efficiency and profitability. Also, the results of the research study indicate that the managers of the companies partly recognize the role of accounting in the implementation of the ISO 14001 standard. The main conclusion of the research is that the management of the companies partly recognize the role of accounting in the ISO 14001 standards implementation. The main conclusion of the research is that the management of the companies in Serbia understand the importance of the implementation of the ISO 14001 standards, but not to a proper extent, as well as the role of accounting in that process.

This is a term paper requirement for the course ACT516M (Accountancy Enrichment Course) offered at De La Salle University for Term 3, SY 2006-2007. It has three papers on the Balanced Scorecard and one paper on Environmental Management Accounting. Please do not cite. Thank you.

Environment and sustainability are relatively new issues for business1 and even as recently as 20 years ago these terms were rarely if ever used in their present meaning. However, they are now recognized as pressing and urgent issues for humanity generally, perhaps the single most important issue of this generation.2 This can affect business in a number of different ways, in particular, through government policies and stakeholder pressures; especially, in recent years there has been strong public and political pressure on business generally to mitigate its impacts on climate change through carbon emissions. There is also a growing recognition that since at least some degree of significant environmental change is now unavoidable, it is prudent for businesses to try to anticipate this as far as possible and to adapt to its likely effects. More positively, some businesses have seen a chance to create new business opportunities and to improve economic performance through a proactive approach.

Stakeholders' pressure motivates the deployment of systems of environmental management control. Nevertheless, few insights are available regarding the impact of stakeholders' pressure on the extent to which eco-control systems are used. Findings from previous research on eco-control are said to be inconclusive, due to the lack of empirical evidence. In addition, the literature on hotels/tourism indicates a scarcity of studies investigating the factors associated with the use of these systems in the hotel sector. In this study, to help fill this gap, we contribute to the existing literature. We investigate, empirically, the associations between the impact of stakeholders' pressure and the use of eco-control systems, and whether the extent of using these systems is associated with hotel performance in the United Arab Emirates (UAE). Our findings conclude that the impact of stakeholders' pressure influences the extent of using eco-control systems in UAE hotels. However, contrary to expectations, the extent of using these systems is not significantly associated with hotel performance. Our findings and interpretations could reflect 'practice variation' in the adoption of eco-control systems in UAE hotels. It could be that UAE hotels do not capitalize on the implications the adoption of these systems could have on their performance. The academic and practical implications of our findings are discussed.

As a guest to a hotel you would have seen the notice ‘Save our planet,’ but may not have taken it seriously. However, it carries the message that the hotel solicits your (guest’s) support in preserving water, energy and environment. Unlike in any other industry, the support of the guest is indispensable in hotels to successfully implement initiatives aimed at preserving the environment. Preserving the environment in connection with the tourism industry is getting increasingly important due to various reasons such as growing green consciousness among tourists, mounting media coverage on environmental concerns and development of new concepts such as eco-tourism and responsible travel.

How does a corporation know it emits carbon? Acquiring such knowledge starts with the classification of environmentally relevant consumption information. This paper visits the corporate location at which this underlying element for their knowledge is assembled to give rise to carbon emissions. Using an Actor-network theory (ANT) framework, the aim is to investigate the actors who bring together the elements needed to classify their carbon emission sources and unpack the heterogeneous relations drawn on.

Based on an ethnographic study of corporate agents of ecological modernisation over a period of 13 months, this paper provides an exploration of three cases of enacting classification. Drawing on Actor-Network theory, we problematise the silencing of a range of possible modalities of consumption facts and point to the ontological ethics involved in such performances. In a context of global warming and corporations construing themselves as able and suitable to manage their emissions, and, additionally, given that the construction of carbon emissions has performative con-sequences, the underlying practices need to be declassified, i.e. opened for public scrutiny. Hence the paper concludes by arguing for a collective engagement with the ontological politics of carbon.

In the recent past, board gender diversity grabs the attention of many researchers in the field of corporate finance. Prior literature suggests gender diversity in the boardroom significantly improves corporate governance and had a favourable impact on firm’s performance. However, gender diversity in the boardrooms and its linkage with firm’s performance is one of the debatable issues since the findings of empirical evidence are diverse across the countries. The main thrust of this study is to investigate the linkage between gender diversity in the boardroom and firm’s performance. A sample size of top 139 non-financial companies listed in NSE for a time period of five years, i.e., from 2011–12 to 2015–16 is used in this monograph. In order to investigate the linkage between gender diversity in the boardroom and the firm’s performance, the study employed Random-Effect GLS Regression Model as suggested by the Hausman Test. The findings of the study reveals that there lay a positive association between Proportion of Independent Female Directors on the Board and the Firm’s Performance (MVANW) after controlling the variables BOARD SIZE, FIRM SIZE, and Leverage (DER).

In this study, it is focused on how sustainable management accounting systems and activity based cost can consistently be executed. In order to explain sustainable management accounting systems, environmental management accounting are covered. Improvements in sustainable management accounting systems will be providing benefit to the internal decision makers and investors about managing these costs.

Bu çalışmada, Sürdürülebilir Yönetim Muhasebesi Sistemi ile Faaliyete Dayalı Maliyetlemenin uyumlu bir şekilde yürütülebileceği konusuna odaklanılmıştır. Sürdürülebilir Yönetim Muhasebesi Sisteminin gelişimini ifade etmek için çevresel yönetim muhasebesi kavramı ele alınmıştır. Sürdürülebilir Yönetim Muhasebesi Sistemindeki gelişmeler, bu maliyetlerin yönetimi için iç karar alıcılara ve yatırımcılara sosyal maliyet bilgisi sağlayacaktır.

Globalisation has boosted the demand for a more transparent accounting of corporate responsibilities encompassing social, economic and environmental dimensions. Proactive companies search for competitive advantage in markets by differentiating themselves from competitors. One way to do this is to engage in corporate social responsibility. This trend raises the issues of whether any connection between corporate social responsibility and competitiveness exists or even whether engagement in corporate social responsibility contributes to competitiveness. On the basis of an empirical study this article discusses the connections between corporate social responsibility and competitiveness of Finnish firms. The study by VTT and TKK Dipoli explored this connection from the following angles: first, how companies take into account corporate social responsibility requirements of stakeholders, second, how corporate social responsibility requirements guide business activities and decision making of companies and, third, whether and how socially responsible actions enhance firms’ competitiveness. The empirical study consists of case studies in companies identified to be leaders in corporate social responsibility and of a company survey with 150 respondents. As with several other studies, this study also provides support to the existence of a positive connection between corporate social responsibility and competitiveness. The chapter discusses the results of the study and identifies implications, recommendations and proposals for further research on corporate social responsibility and environmental management accounting.

This paper explore the feasibility of integrating material flow cost accounting (MFCA) technique with existing environmental management systems (EMS) in a brewery process for improved waste-reduction decisions and increased environmental performance. Decisions to reduce wastewater generation in the past have focused on end-of-pipe approach, with little attention paid to the costs of generating brewery wastewater resulting in negative environmental impact. A case study was performed in a micro-brewery which provides evidence that applying MFCA supports and can improve waste-reduction decisions by brewery managers. The paper highlights the gains of applying MFCA from the case study with improvements in cost savings and increased environmental performance. The paper suggests that a significant implication for micro-breweries in South Africa is the availability of waste related information both in costs and volume for improved waste-reduction decisions for an improved waste-reduction strategy.
Key words: Wastewater, brewery process waste, material flow cost accounting (MFCA), waste-reduction decisions, negative product, positive product.

This research investigates the relationship between proactive environmental management and financial performance from strategic management aspect. Despite popularity of the business case for environmental sustainability (BCES) among business leaders and scholars, however, the role of strategic initiatives in enabling a BCES remains unclear. Underpinned by dynamic capabilities theories, core strategic outcomes in terms of environmental strategic focus and environmental shared vision were postulated as sources of firms’ dynamic capabilities. These environmental capabilities enable firms to effectively exploit their environmental resources for building environmental performance which eventually contribute to their financial performance. The research model was validated via survey data collected in year 2017 from 124 Malaysian manufacturers certified with ISO 14001. Findings from data analysis via SEM-PLS structural model analysis indicated environmental strategic focus has a significant effect on environmental performance. Likewise, environmental performance illustrated a significant positive effect on financial performance. However, contrary to prediction, environmental shared vision has no effect on environmental performance. This study recognises some limitations and suggested directions for future research.

The main objective of this article is to illustrate the accounting methodology for eco-efficiency measurement, which allows for inclusion of the economically-orientated component in the processes of environmental reporting on tourist destination integral product, whilst examining the interrelation of eco-costs and values found in the classic LCC and particular tourist destination SBU (Strategic Business Unit). The process of tourist destination integral product eco-efficiency measurement calls for development of environmental accounting methods suitable for presentation of economically-orientated sustainability information. In the complex process of integral product eco-efficiency measurement, LCA (Life Cycle Assessment) and LCC (Life Cycle Costing) take important roles. Interpretation and presentation of the data includes detailed cradle-to-grave environmental impact assessment of direct and indirect tourist activity and different products of tourist destination SBU's. Eco-costs represent the monetary component in the processes of environmental accounting and reporting on environmental impact of tourist destination integral product.

The present throughput "waste" economy, which requires more than 80 tons per person of nonrenewable
natural resources a year, is sacrificing Earth’s ecosystems and future options to
maintain the material wealth of Americans and Europeans. This cycle of massive consumption of
non-renewable resources and the accompanying by-products of enormous waste and pollution
are problematic for the long-term success and survival of most organizations and perhaps
humanity itself. This destructive practice will gradually yield to custom-tailored services and
products. Environmental accounting will help speed this transition, and will be made feasible
through the use of information rich technologies, required to manage a sustainable economy.
This paper presents a suggested model of implementation.