The Problem With Reporting Pollution Allowances: Reporting Is Not the Problem

Gibson, Kathy

doi:10.1006/cpac.1996.0073

Cited by 43 publications

(28 citation statements)

References 2 publications

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“…One, the dynamic nature of portfolio design and construction of SRIs does not lend itself immediately to description in product disclosure statements. Reporting, as Gibson (1996) argues in the context of the reporting of pollution allowances, is not the problem. The evidence we have presented suggests that the monitoring of qualitative research delegated to agent fi rms has been lax.…”

Section: Discussionmentioning

confidence: 99%

“…Until now, the social accounting literature has tended to focus on motivations of reporters issuing information on a voluntary basis (Owen et al, 2001) rather than on regulation of extra-fi nancial reporting by companies and fi nancial institutions. An ideological critique of regulated reporting of environmental information is found in the work of Gibson (1996). Legal comment on SRI can be found in the work of Moodie and Ramsay (2003), Richardson (2002) and Whincop (2003).…”

Section: Prior Literaturementioning

confidence: 99%

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Management practices in Australasian ethical investment products: a role for regulation?

Haigh

Guthrie

2008

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This paper adds to the literatures on socially responsible investment (SRI), investment management, regulation of fi nancial services and social accounting by providing a comprehensive survey of investment methods used in SRI products and regulated social reporting in fi nancial services. Australian and New Zealand regulations require issuers of selfdeclarative SRI products to provide details on methods used in portfolio construction. Regulators' objectives to standardize the reporting of portfolio construction and thus improve its comparability were identifi ed by examination of parliamentary debates and other public reports. Portfolio construction styles of 86 SRI products managed by 63 fi nancial institutions in Australia and New Zealand were chosen for analysis. Statistical analysis was conducted to identify associations between styles, construction methods and assessment techniques over a four-year period: [2004][2005][2006][2007]. These aspects were further examined in 18 case studies. Over the period, diversity and intensity of construction methods had increased both within and between investment managers. The non-standard nature of management consultation used in SRI products, marketing needs to distinguish rather than standardize investment methods and the types of information thought relevant to clients did not reconcile easily with the types of information required by regulation. The more recent products in the sample tended to reference market indexes in portfolio construction, separate social considerations from fi nancial considerations and delegate qualitative assessments of invested companies. Consumer policy implications arise from questions bearing on the integrity of information attached to investment products and the effective monitoring of delegated investment processes.

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Section: Discussionmentioning

confidence: 99%

Section: Prior Literaturementioning

confidence: 99%

Management practices in Australasian ethical investment products: a role for regulation?

Haigh

Guthrie

2008

Bus Strat Env

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“…Some of the studies associated with social and environmental accounting focus on the technical dimensions of social and environmental accounting (Gibson, 1996;Lehman, 1996;Milne, 1996;Grinnell & Hunt, 2002) and associated reporting (Cho, Chen & Roberts, 2008;Freedman & Stagliano, 2008), while others have analyzed factors associated with (non)disclosure of corporate social and environmental performance (Buhr, 2001;Belal & Cooper, 2011). Yet others have analyzed or suggested forms of accounting that would facilitate a transition towards more socially and ecologically just societies and modes of operation (Birkin, 1996;Birkin, Edwards & Woodward, 2005;Crowther & Hosking, 2005;Thomson & Bebbington, 2005;Cooper et al, 2005).…”

Section: Social and Environmental Accounting And Reportingmentioning

confidence: 99%

A case study of critique: Critical perspectives on critical accounting

Dillard

Vinnari

2017

Critical Perspectives on Accounting

116

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As accounting academics, we have a responsibility to act in the public interest as conscience, critic and counselor of society regarding economic, social and environmental justice. In fulfilling this responsibility, we are concerned with how accounting, accountants, and accountability regimes can facilitate democracy by serving the needs of pluralistic communities, giving particular attention to the various underserved constituencies. Informed by Flyvbjerg's (2001) notion of phronetic social science research that matters, we reviewed 353 articles published in Critical Perspectives on Accounting from 1990 to 2014 identifying the focal constituency(s), the injustice(s) addressed, the groups or institutions responsible for the injustice as well as the proposals for social and political praxis outlined in the studies. Our review indicates that generally the studies identify a somewhat focused, though salient and appropriate, set of economic, social and/or environmental injustices experienced by various constituencies, and to some extent, the studies consider the context and conditions that perpetuate the inequality and injustices. However, as the field matures, there is a need for more robust development of the social and political implications of critical accounting research and for articulating the ideas and implications as action programs. Further, our review suggests that several relevant constituencies such as non-human animals, children, future generations, developing nations, and gender and sex/uality minorities have received little or no attention in the current literature.

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“…Moreover, Gibson (1996) argued that by trying to reduce harmful industrial pollution through "an economic blunt instrument, we are working within a false paradigm that the environment is a part of the economy, when in fact the reverse is true" (Gibson, 1996, p. 655-6). Milne (1996) maintains that the EPA gifted the majority of the annually distributed permits to coal fired utilities during the program's phase one (6 million permits) beginning in 1995 for large polluters and phase two (9 million permits) from 2000 for smaller polluters, but only a miniscule percent of these permits would be traded.…”

Section: The Financialisation Of the Atmospherementioning

confidence: 99%

Can the financialised atmosphere be effectively regulated and accounted for?

McNicholas

Windsor

2011

Accounting, Auditing &Amp; Accountability Journal

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Purpose -A critical analysis of the proposed Australian emissions trading scheme (ETS) as a complex market solution to reduce greenhouse gases (GHGs). Specifically we examine the financial regulatory infrastructure that will more than likely oversee the Australian ETS, the same regulatory infrastructure which failed to prevent the global financial crisis. Design/methodology/approach -A critical examination of the financialisation of the atmosphere that follows the growth of the financialisation of capitalism when economic activity shifted from production and service sectors to finance. Financialisation of capitalism is supported by capitalist regulation influenced by neoliberal doctrines of free markets and small government. Findings -Trillions of dollars of taxpayer funds bailed out large financial institutions that nearly collapsed after unregulated trading in complex financial products that were supposed to hedge future risk. Corporate emissions trading will involve similar financial products. The measurement and reporting of actual emissions to support the Australian ETS also creates challenges for the accountancy profession to provide a workable conceptual framework. Practical implications -If the current financial infrastructure required for the GHG emissions trading scheme is flawed as evidence indicates, no amount of taxpayer funded bailouts will reverse the extreme climate change associated with an environmental catastrophe. Originality/value -The application of financialisation of monopoly capitalism and capitalist regulation theories to the critical analysis of commoditised GHGs traded as financial products in the proposed Australian ETS.

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The Problem With Reporting Pollution Allowances: Reporting Is Not the Problem

Cited by 43 publications

References 2 publications

Management practices in Australasian ethical investment products: a role for regulation?

Management practices in Australasian ethical investment products: a role for regulation?

A case study of critique: Critical perspectives on critical accounting

Can the financialised atmosphere be effectively regulated and accounted for?

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