The paper examined the extent of environmental accounting and its relationship with corporate sustainability with an ardent focus on controversies, contradictions, gaps and relationships with previous explorations. The researchers adopted an assiduous literature review approach on the diverse perspectives of investigators and scholars through probing into their conceptualizations, empiricism and theoretical underpinnings of industrialized nations, emerging economies and least developed countries. The analysis provides a comprehensive overview of recent studies on multiple dimensions of environmental accounting and their interrelationship with corporate sustainability. We observed that there was a broad gap on the issue of profitability, financial leverage, industry type and social and moral responsibility of environmental accounting. Additionally, we also discovered that the relationship between environmental accounting and corporate sustainability has not been effectively established in emerging economies. Premised on this intriguing findings, it was recommended that standard setters should yield to the incessant calls and proposals canvassed by renowned scholars for directives bordering on the establishment of International Financial Reporting Standards (IFRS) on environmental accounting (EA) in order to enhance corporate sustainability (CS).

This paper seeks to provide a novel approach and insight into the synergies between corporate social responsibility (CSR), environmental disclosure (ED) and financial reporting quality (FRQ) which is emerging and changing rapidly. The study examined the nexus between corporate social responsibility (CSR), environmental disclosure (ED) and financial reporting quality (FRQ) among corporate entities listed on the Nigeria Stock Exchange (NSE). Data were collected from a sample of 169 listed firms in Nigeria. The research used a panel data set comprising of 624 firm year observations spanning the period 2015 to 2017. The empirical results of the study revealed that there exists a significant relationship between environmental disclosure(ED), firm size (FS), and financial reporting quality (FRQ). However, empirical evidence shows an insignificant relationship between social disclosure (SD), leverage and financial reporting quality (FRQ). We therefore recommend a proposal for the establishment of an inductive corporate social responsibility/environmental disclosure/financial reporting framework that future scientists/scholars can institute to explore the determinants of corporate social responsibility (CSR), environmental disclosure (ED) and financial reporting quality (FRQ) in developing countries.

The paper examines environmental Disclosure Modelling in a Developing Economy using the Craigg double hurdle model and controlling for the role of corporate governance. This study employs the ex-post research design and investigates firm’s environmental disclosures in Nigeria, by controlling for corporate governance characteristics. The study employs a sample of 35 non-financial firms listed on the Nigerian Stock Exchange using the simple random sampling technique. Secondary data retrieved from the financial statements of the selected companies was used for the study. Both the Tobit and double-hurdle models were estimated but based on the Bayesian and Akaike’s information criteria for model selection, the double-hurdle model is preferred. The result reveals that though Board size is not a significant determinant of probability to disclose environmental information in annual reports (-0.0408, p=0.175), it is a significant determinant of the extent of environmental disclosure reports (0.1943, p=0.00) given that a firm has decided to disclose. Board independence is a significant determinant of both probability to disclose environmental information and extent of disclosure (-2.2373, p=0.00) with a negative coefficient. The Board gender diversity is not a significant determinant of probability to disclose environmental information in annual reports (-0.60076, p=0.461), it is a nevertheless a significant determinant of the extent of environmental disclosure reports (-3.5913, p=0.00) when firms then decide to disclose. Institutional ownership turns out to be a significant determinant of both the probability to disclose environmental information and extent of disclosure (0.0273, p=0.00) when firms choose to disclose. Finally, the truncated model results also reveals that though managerial ownership is not a significant determinant of probability to disclose environmental information in annual reports (-0.01352, p=0.148), it is nevertheless a significant determinant of the extent of environmental disclosure reports (-0.0206, p=0.001) when firms then decide to disclose.