THE ROLE OF SUSTAINABILITY ACCOUNTING IN BRIGDING THE GAP OF UNDERDEVELOPMENT IN THE NIGER DELTA, NIGERIA

Abstract

The objective of the study is to ascertain the role of sustainability reporting in an entity.

Sustainability is a relatively new concept that reports or accounts for the economic, environmental

and social dimension of organizational activities, product and services to critical stakeholders. It

focuses on the impact of organization activities on the immediate environment. The concept of

sustainability reputing is synonymous with green accounting, sustainability Accounting,

environmental accounting, sustainability development and triple bottom line (TBL). Sustainability

Reporting emanated from the increasing quest for a set corporate governance, increasing interest

of government, increasing interest of financial market, the growing expectation of corporate social

responsibility from entities and the need to reform corporate governance values. The major

challenges of sustainability Accounting are; lack of legal framework and generally acceptable

standard and the low awareness of the concept among the citizenry. It has been recommended

that International Federation of Accountants (IFAC), International Accounting Standard Board

(IASB), United Nations Environmental Programme (UNEP) and other international organization

should expedite action in developing a standard framework that will be globally acceptable. There

should be enlightenment campaign on the role of sustainability accounting by government,

nongovernmental organization and civil society.