ACCG100 Lecture Notes - Lecture 11: Deepwater Horizon Oil Spill, Environmental Accounting, Social Accounting

• School: Macquarie University
• Department: Accounting and Corporate Governance
• Course: ACCG100
• Professor: Colly He

Document Summary

Sustainable development is development that meets the needs of the present without compromising the ability of future generations to meet their own needs" (brundtland, 1987) It put emphasis on three pillars: environmental protection, social equity, economic performance. Focus on economic performance (profit, wages, etc. ) Explore the unmarked and unreported voices in social and environmental issues, and the attributing consequences. Emissions trading scheme (ets) are designed to control emissions by allowing participants to trade excess emissions permits. Carbon tax where a levy is paid based on the amount of emissions of greenhouse gases (ghgs) Australian water accounting standards- provide guidance and explanatory material to assist in preparing, presenting and assuring general purpose water accounting reports. Acts as a mechanism to offer greater corporate accountability and transparency (buhr 2007) First emerged in the 1970s where it received much consideration and experimentation. It fell off the public agenda in the 1980s, but was rehabilitated in the mid-1990s.