UNIVERSITY OF BUEA

FACULTY OF SOCIAL AND MANAGEMENT SCIENCES

DEPARTMENT OF ACCOUNTING

COURSE CODE: ACC 611

COURSE TITLE: ENVIRONMENTAL MANAGEMENT ACCOUNTING

ASSIGNMENT

ENVIRONMENTAL FINANCIAL ACCOUNTING

PRESENTED BY: GROUP 7

NAMES MATRICULE

CHE DIVINE AKONWI SM19P043

KATTY NAMONDO MONONO SM19P041

ZECHIA FONJUANANG SM19P300

LECTURER: Dr FUAMENYA FRANCIS

JANUARY 2020

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Contents

LIST OF ABBREVIATION.......................................................................................................................iii
INTRODUCTION.......................................................................................................................................1
1. DEFINITION......................................................................................................................................1
2. OBJECTIVES OF FINANCIAL ENVIRONMENTAL ACCOUNTING...........................................2
3. ENVIRONMENTAL FINANCIAL ACCOUNTING AND REPORTING.........................................3
4. INTERNATIONAL ACCOUNTING STANDARDS AND THE ENVIRONMENTAL ISSUES......4
5. NEED TO ACCOUNT FOR ENVIRONMENTAL COSTS AND LIABILITIES...................................................5
6. CLASSIFICATION OF ENVIRONMENTAL AND SOCIAL ACTIVITIES IMPACT AND ITS
LINK TO CONVENTIONAL FINANCIAL ACCOUNTING....................................................................6
6.1. INFORMATION THAT CAN BE MONITORED SEPARATELY IN CONVENTIONAL
ACCOUNTING...........................................................................................................................................7
6.2. ADVANTAGES of DISCLOSING ENVIRONMENTAL AND SOCIAL ASPECTS of A BUSINESS IN ANNUAL
REPORTS AND THEIR INTERCONNECTION WITH ECONOMIC INFORMATION............................................10
6.3. SOCIAL AND ENVIRONMENTAL ASPECTS OF BUSINESS THAT CANNOT BE
MONITORED IN CONVENTIONAL FINANCIAL ACCOUNTING (EXTERNALITIES)...................11
7. MEASUREMENT OF AN INTERNALISE ENVIRONMENTAL COST........................................13
8. GOVERNMENT REINFORCEMENT AND COMMITMENT FOR ENVIRONMENTAL
PROTECTION IN CAMEROON.............................................................................................................14
Appendix 1.................................................................................................................................................17
A SAMPLE FINANCIAL STATEMENT REPORT.................................................................................17
REFERENCE............................................................................................................................................20

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LIST OF ABBREVIATION
EFA: Environmental Financial Accounting

IAS: International Accounting Standards

ISAR: International Standards of Accounting and Reporting

IASB: International Accounting Standards Board

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 ENVIRONMENTAL FINANCIAL ACCOUNTING

INTRODUCTION

How an enterprise’s environmental performance affects its financial health and

how financial information relating to performance can be used to assess
environmental risk, as well as that management of the latter, are often matters of
concern to investors and their advisers.
Owners and shareholders are particularly interested because of the potential impact
which environmental costs may have on the financial return on their investment in
the enterprise. Other interested parties would include customers, suppliers,
regulators, the general public and those acting on their behalf.

Environmental financial accounting deals with accounting for and reporting on

environmental transactions and events that affect, or are likely to affect, the
financial position of an enterprise.

1. DEFINITION
Environmental financial accounting is used to provide information needed by
external stakeholders on a company’s financial performance. This type of
accounting allows companies to prepare financial report for investors, lender and
other interested parties.

One of the challenges is to ensure that:

1. Environmental costs and liabilities are accounted for by following relevant

accounting standards or, in their absence, generally accepted accounting
practices; and
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 2. The meaningful disclosure of the environmental performance of an
enterprise is provided.

A further challenge is to ensure that appropriate management accounting

procedures are, where necessary, developed and used. For instance, to cost out
pollution controls; to compare alternative materials that can be used in
manufacturing; and to investigate recycling alternatives.

2. OBJECTIVES OF FINANCIAL ENVIRONMENTAL ACCOUNTING

 The objective of financial environmental accounting is to inform and give

guidance on environmental accounting issues, and identify best practices
that may be considered by national standard setters in the development of
their own accounting standards, rules or regulations.
 Another objective is the accountability of the management of an enterprise
for financial implications of managing the environmental resources entrusted
to it and that are linked to the enterprise's activity.
The stated objective of financial statements as contained in the Objectives of
Financial Statements issued by ISAR (1989) is to provide information about the
financial position of an enterprise, which is useful to a wide range of users in
making decisions and is necessary for the accountability of management for
resources entrusted to it. The environment is a resource that is significant to many
enterprises, and it must be managed efficiently for the benefit of both the enterprise
and society.
Environmental Financial Accounting (EFA), which is aimed at external reporting
of environmental and financial benefits in (sometimes verified) corporate
environmental reports or published annual reports. EFA is partly governed by
accounting standards issued by different professional bodies. For instance,
2
traditional corporate financial statements usually include environmental
remediation and liability issues linked to a company’s activity.

3. ENVIRONMENTAL FINANCIAL ACCOUNTING AND

REPORTING

Environmental financial accounting deals with accounting for and reporting on

environmental transactions and events that affect, or are likely to affect, the
financial position and the performance of an enterprise. Laws and regulations
promoting cleaner environment have led corporations to take actions relating to the
environment which are costly and which has resulted in substantial financial
consequences for companies, but on the other hand companies have not been
pressed enough to report these information to the various stakeholders. This means
a large number of interested groups are not getting information relevant to their
decision-making needs on one hand environmental issues can dramatically impact
a company’s financial position and its changes for long term success.

Today, this new variable should be considered in financial accounting and

reporting as well as in modern financial analysis because they substantially
influence risk and opportunities of companies and in extreme situations also the
continuity of the business. Example of environmentally induced financial impacts
on companies are environmental charges, fees, fines, sanctions, site abandonment
costs, lower value of polluting production devices, environmental liabilities, etc.
impacts of a company as soon as the impacts are made material for the company.
Financial analysts assess and consider environmentally induced financial risks and
opportunities only if they posses reliable and comparable information, as a

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consequence disclosing environmental data in annual reports may affect the
perceptions of an enterprise’s earnings and cash flow.

4. INTERNATIONAL ACCOUNTING STANDARDS AND THE

ENVIRONMENTAL ISSUES
Depending on the nature of a business, certain accounting standards and
interpretations will be relevant to the treatment and disclosure of environmental
issues in financial statements. For instance, the valuation and reporting of tangible
and intangible assets, including the measurement of inventories, can be affected by
environmental impairment.

Financial provisions could be required for liabilities arising from costs of waste
disposal, pollution, decommissioning and environmental contamination, and
wildlife habitat restoration. Where environmental issues have a material and
financial impact, specific disclosures may be necessary. Some environmental items
may require special treatment due to their harmful impact irrespective of the size
and value of an environmental item, its nature, societal importance, and impact on
a company’s reputation might be sufficient to be regarded as financially material.
Where supply and disposal chain risks and impacts are material to the business
they should be taken into account. If different reporting boundaries are used they
should be stated.

From the functions of accounting, and the users of financial reporting, the role of
accounting standards becomes clear. Standards provide a firm basis on which to
record, compare and analyze financial position and performance of an enterprise.
International Accounting Standards Board (IASB) has issued standards that are of
particular relevance to environmental issues, in particular IAS 36 on Impairment of
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Assets, IAS 37 on Provisions, contingent liabilities and contingent assets, and, to a
lesser extent, IAS 38 on intangible assets. Although the technical parts of the
standards do not refer explicitly to environmental issues, there are sufficient
examples and illustrations provided elsewhere in the documents enabling to guide
through the core areas of environmental liabilities and provisions. For example,
Appendix C to IAS 37 contains, among others, examples dealing with: -
contaminated land – legislation virtually certain to be enacted, contaminated land –
constructive obligation and offshore oilfields – decommissioning costs.

5. NEED TO ACCOUNT FOR ENVIRONMENTAL COSTS AND LIABILITIES

Identifying stakeholders

There are many different groups in a society which are monitoring the behaviour of
an enterprise in social and environmental areas, for example: shareholders,
employees, customers and consumers, public authorities, government and
governmental bodies, media, trade creditors and suppliers, neighbours and local
communities, industry and trade associations, environmental organizations, non
non-participatory owners and lenders, other pressure groups. Anyone from the
above mentioned stakeholders can develop a pressure on a business to be managed
in accordance with environmental protection and to provide financial information
to public.

How an enterprise’s environmental performance affects its financial health and

how financial information relating to such performance can be used to assess
environmental risk, and the management of such risk, are often matters of concern
to investors and their advisers. Creditors have similar needs, but an added factor is
the possibility of having to take on the responsibility for rectifying environmental
damage should a debtor default on a loan for which it has pledged land as security;
the amount involved may be significantly greater than that of the original loan.
Owners and shareholders are particularly interested because of the potential impact
environmental costs may have on the financial return on their investment in the
enterprise. Other interested parties would include customers, suppliers, regulators,
the general public, and those acting on their behalf. The information provided

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should be presented in such a manner so as not to jeopardise business
confidentiality in sensitive areas or the competitive position of the enterprise.
This Position Paper deals with accounting for and reporting of environmental costs
and liabilities arising from transactions and events that affect, or will likely affect,
the financial position and results of an enterprise and, as such, should be reported
in an enterprise’s financial statements. The recognition and measurement of costs
or events that are not absorbed by the enterprise are not covered. Examples of such
costs (often referred to as external costs) can include those relating to the negative
impacts of air pollution and water pollution on the environment which are borne by
society at large rather than the enterprise.

6. CLASSIFICATION OF ENVIRONMENTAL AND SOCIAL

ACTIVITIES IMPACT AND ITS LINK TO CONVENTIONAL
FINANCIAL ACCOUNTING

The impacts of environmental and social activities of an entity can be divided into
two groups:
 Impacts projected into conventional financial accounting (transactions
recognized by the conventional definitions of existing standards that affect
assets, liabilities, equity, revenues and expenses).
 Impacts not projected into conventional financial accounting (do not affect
assets, liabilities or profit). These impacts are called externalities and in
most cases they cause the incompleteness of the data reported in
conventional financial statement

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 6.1. INFORMATION THAT CAN BE MONITORED SEPARATELY IN
CONVENTIONAL ACCOUNTING

The first group of impacts is in most cases easy to separate by means of suitable
analytical accounts and to disclose either directly in financial statements or in notes
to financial statements.
Such information can easily be verified by an auditor, and thus will carry a high
level of reliability and comparability (in the time and also among enterprises).
In conventional accounting regulated by IFRS the following data can be
recognized and monitored: social and environmental expenses, environmental
investments, liabilities and receivables connected with social and environmental
aspects.

a) Social and environmental expenses

Primary expenses can be recognized and monitored by the appropriate
configuration of analytical accounts. Social and environmental expenses are
particularly: disposal or waste recycling costs, elimination of products of
combustion expenses, expenses on preventing environmental damages, expenses
on environmental damages disposal, expenses on social activities (e.g. re-
qualification courses), and penalties imposed for environmental damages.
Penalties and fines should be reported separately as they do not positively
contribute to the environment, unlike the other above mentioned expenses.
Monitoring of secondary social and environmental expenses can be carried out by
managerial accounting.
Complex recognition of these expenses is the first condition to their subsequent
reduction that will positively influence both the total efficiency of an enterprise
and the environment.

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Particular definition of expenses related to the environment and social sphere is
always to a certain extent controversial and dependent on each enterprise which
sets its clear definition. However, the basic classification of the environmental and
social dimensions should be standardized to enhance the comparability of the
information among enterprises.
Consistent with the accrual principle, environmental and social expenses should be
adopted from the period they arose in. The correct estimation of future
expenditures related to the present events is vital. The enterprise should create
provisions on those futures environmental and social expenditures.

b) Environmental investments
It is necessary to distinguish between the expenses on sustainable development and
the costs on long-term tangible or intangible ecological assets acquisition or
subsequent expenditures for such assets appreciation (their increased capacity,
useful life span, efficiency, etc.). In conventional financial accounting these
expenditures are recognized either as long-term assets or as the expenses that
decrease net profit in that period in which they are spent in case the criteria for
assets recognition settled in conventional accounting are not met. In both cases the
expenditures should be disclosed separately in notes to financial statements.
Let us go to the point:
An asset is in IFRS defined as a resource controlled by the entity as a result of past
events and from which future economic benefits are expected to flow to the entity.
However, benefits are perceived only narrowly, from the economic view point.

A practical example of an application of general asset’s definition is the prescribed

approach to environmental investments in IAS 16 (states that the cost of an item of
property, plant and equipment shall be recognized as an asset if, and only if: it is
probable that future economic benefits associated with the item will flow to the
8
entity; and. the cost of the item can be measured reliably). Equipments that were
acquired for better safety or for environmental protection but that do not increase
future economic effects of other parts of long term assets - but only allow their
running due to legislative requirements - should be measured only in the
recoverable amount (as defined in IAS 36 which deals with impairment testing for
all tangible and intangible assets. These assets should be carried at no more than
their recoverable amount).

The costs exceeding the recoverable amount should not be capitalized and should
be account as expenses (the prudence principle applied). There is a question– if an
enterprise acquires an ecological equipment (Oily water separators Plants for waste
water treatment of physical-chemical type Grease collectors) not needed for its
business (e.g. this equipment is not required by law) it will be very difficult to
prove the value from use of such installed equipment. Also the fair value of the
installed equipment (if available) will probably be smaller than purchased costs.
The restriction on capitalization of purchased cost or the application of IAS 36 can
have a negative impact on decision making whether to acquire such asset. In such a
case, environmental and economic criteria are in contradiction.
The rules for the recognition of internally generated intangible assets (see IAS 38)
are even stricter.
c) Recognition and measurement of liabilities and receivables connected with
the environment and social aspects.
IFRS require that liabilities originated from ecological and social activities of an
enterprise are recognized and reported in time. These liabilities are important for
the assessment of creditor’s risks (see IFSR Framework and IAS 37). IFRS
simultaneously restrict liabilities to be compensated with receivables from the third
party (e.g. from insurance). IAS 37 also requires the duty to recognize and report
constructive obligation. Contingent liabilities should be included in notes to
financial statements. It is evident that the definition of liabilities (IFRS
Framework), and the requirement to reporting of provisions (IAS 37) and
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contingent liabilities reporting in accordance with the accrual and prudence
principle is a good base for separate measuring and reporting of liabilities related
to the environmental and social issues.

6.2. ADVANTAGES of DISCLOSING ENVIRONMENTAL AND SOCIAL

ASPECTS of A BUSINESS IN ANNUAL REPORTS AND THEIR
INTERCONNECTION WITH ECONOMIC INFORMATION

a) Comprehensive view of an enterprise A basic advantage of reporting on

environmental, social and economic dimensions in one document is that a
comprehensive view of an enterprise can be achieved. The presentation of the
information in an annual report enables to specify the influence of environmental
and social aspects of business on performance and on financial position of an
enterprise, and to assess the future risks connected with these aspects.
And, on the contrary, separate reporting on environmental and social activities
results in an independent report (reports) that separates in fact closely connected
areas.
Critical question which we will attempt to answer in the following text is whether
financial accounting and reporting (within traditional standardized approaches) are
prepared for this new role.

b) Higher reliability of information presented in financial statements

Higher reliability of data reporting on the environmental and social factors - in
connection with financial accounting and reporting is also an advantage as the data
are independently audited (an audit is either obligatory or initiated by an
enterprise). Critical question is whether an auditor is ready to verify environmental
and social issues.

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6.3. SOCIAL AND ENVIRONMENTAL ASPECTS OF BUSINESS THAT
CANNOT BE MONITORED IN CONVENTIONAL FINANCIAL
ACCOUNTING (EXTERNALITIES)
Externalities are social and environmental consequences of business which cannot
be recognized in conventional financial accounting. General view on the
phenomena cannot be identified as there is a variety of them. Externalities are
pragmatically divided in two groups: positive externalities and negative
externalities.
a) Positive externalities
Positive externalities are e.g. counterbalance, gains to environmental investments
which are often recognized as the expenses in that period in which they were spent
or counter (gains) from social investments (expenses on employment of disabled
people, expenses on education of employees, on social development of a region,
etc.).
Some of these gains can be evaluated (measured). They should be reported as a
complex of profits or losses quantified from conventional financial accounting.
From the multidimensional point of view they are the “missing” part of profits or
losses.
If the expenditures to social and environmental investments decrease the profit of
an entity because they are quantified only by conventional financial accounting and
the entity is not able to show the effects from such investments, it can be
demotivating for such an entity to spend such expenditures.
If externalities cannot be measured they should be verbally described.

b) Negative externalities
An entity “pays” for achieved profit (revenues) with polluted air, water, decreasing
ozone in the atmosphere, expensive disposal of waste. But these negative effects of

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business cannot be monitored in conventional accounting as they are not paid by an
entity in fact. The whole society bears these effects.

Society (governments) has been trying to internalize these externalities in the last
decades.
Governments try to internalize the negative externalities on an entity by imposing
direct payments or levying taxes (e.g. taxes on disposal of future waste, payments
for air pollution, etc.), and impose undirected economic instruments (e.g. emission
permission). Such measures cannot be applied in all cases and even if it is possible
the total devastation cannot be recovered.
It is nearly impossible to evaluate some damages which are in many cases
irreversible.
Generally, it can be said that the quantification of these externalities is difficult. If
they were measurable in monetary terms, the society would internalize them to an
entity.
In such cases the “accounting based on physical measuring units” which expresses,
for example, the volume of product combustion released into air can be
recommended. The data should be in all cases supplemented with comparable data
from the last year (alike the information from financial statement). If the values
increase there is a clear signal that sustainable development is endangered. In
literature this approach is named “The Environmental Sustainable Cost Approach”.
This approach offers further improvements –a connection with economic data, e.g.
the comparison of an amount of negative externality with an amount of production
or the comparison with revenues.

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 7. MEASUREMENT OF AN INTERNALISE ENVIRONMENTAL COST
The internalization of environmental costs need scientific measurement of the
environmental costs, in theory, this principle must follow the basic measurement
principles in the general accounting standards, meanwhile it also should be based
on the objective characteristic of the environmental costs, increasing meaningful
principles.
1. The principle of caring about both economic and environmental benefit. This
is basic principle of the measurement of environmental costs; it requires
taking into account both the economic and environmental benefits. In the
process of measurement of environmental cost, we should make sure that all
types of environmental protection are taken into account, not only consider
environmental protection cost that have impact on short-term economic
interest, but also the cost of long-term cost of resource depletion and
environmental maintenance.
2. The principle of reliability and relevance. Traditional accounting principles
emphasis more on reliability, but due to the characteristics of both the
accuracy and fuzzy of the environmental costs, its measurement should
focus on the combination of both reliability and relevance.
3. The principle of both flexibility and normative. Traditional cost
measurement focus on the normative, but the measurement of environmental
cost is still in the initial stage, the specific norms is not yet reflected and
many complex issues have not been settled, so the principle should have
some flexibility based on the actual situation in compliance with the
accounting rules.
4. The principle of cost-effect. Based on the principle of cost-effect, when we
measure the environmental cost, it shall not exceed the revenue generated by
measuring and reporting the information. As the environmental cost objects
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 are more complex with a wide range and the form of existence is not
standardized, so it’s accurate measurement needs to pay the high cost. The
traditional accounting measurement was built up on the basis of the labour
theory of value, but this method is every difficult to effectively measure the
various elements of the environmental cost.
Therefore the measurement methods of environmental cost must establish theories
that can measure the value of non-commutative and non-labour goods, taking into
account the characteristics of the environmental costs, the measurement methods of
environmental costs can be built on the basis of the theory of the marginal value
and labour value. As for environmental costs, its measurement standards are on the
basis of the currency. If necessary, we can use physical and labour indicators,
mathematical model or words to explain the size of the losses caused to the
environment and environmental performance. Its measurement attributes historical
cost or original consuming level; sometimes we use the replacement cost, current
cost or future cost to measure. That is to say we insist on the historical cost as basic
measurement methods, also introduce the replacement cost, current cost or future
cost to measure.

8. GOVERNMENT REINFORCEMENT AND COMMITMENT FOR

ENVIRONMENTAL PROTECTION IN CAMEROON

While addressing the Paris Climate Change Summit in 2015, President Paul Biya
reaffirmed Cameroon’s engagement to reduce Greenhouse emissions by 32 per
cent by 2035 as the country embarks on its development process. The recent
actions of the Ministry of Environment, Nature Protection and Sustainable
Development to sanctions some 395 companies for violating environmental laws
only comes to reinforce government’s commitment. Thus, the actions of the
Ministry of Environment, Nature Protection and Sustainable Development to
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sanction some 395 companies for violating of environmental laws and pollution is
practical measures the government is taking to keep its commitment taken at the
highest level to safeguard the environment. The list of companies made public on
August 8, 2018 contains fines ranging from FCFA 1 million to FCFA 50 million,
levied in accordance with the 1996 law on environmental management. The fine of
FCFA 50 million was levied on Societé Camerounaise de Transport et D’entreprise
Maritime, a Douala-based company faulted for illegally importing hazardous waste
into Cameroon.

A majority of the companies sanctioned according to findings of an inspection

study carried out in 2015, were shops, bakeries, pharmacies, drycleaners and
enterprises fabricating, using and distributing non-biodegradable plastics. Most
penalties in this category range from FCFA 1 million to FCFA 2 million, with a
few of them amounting to FCFA 15 million.

Companies dealing in hydrocarbons and public works as well as product

manufacturing such as Buns, Green Oil, Petrolex, Tradex, SOCAEPE, Cameroon
Tea Estate, International Soap Factory, were equally fined heavy sums for failure
to conduct environmental impact assessments before setting up structures and non-
respect of environmental protection laws in the daily running of their businesses.
Some institutions such as health care providers and slaughterhouses were equally
fined for unlawful waste disposal.

In recent years, government has embarked on several sensitisation campaigns to

protect the environment, especially from dangers caused by the use and disposal of
plastic waste which constitute 10 per cent of the six million tons of plastic waste
disposed nationwide every year.

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During the commemoration of this year’s edition of the World Environment Day,
the Minister of Environment, Nature Protection and Sustainable Development,
Hele Pierre reiterated government’s resolve to end the use of non-biodegradable
plastics. He also said people circulating and encouraging the use of such plastics
will be hunted down, noting that inspections are being carried out while customs
officers are also preventing the importation of such plastics.

The recent sanctions testify that government has graduated to repression after
many years in the sensitisation stage.

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Appendix 1

A SAMPLE FINANCIAL STATEMENT REPORT

Helen Group

The parent company of the Helen Group, Helsingin Energia, is one of the largest
energy companies in Finland. It sells electric energy to about 400,000 customers in
Finland and its district heating network meets over 90 per cent of the heating need
of the Helsinki region. Helsingin Energia also produces and sells district cooling,
which is rapidly expanding in the Helsinki region.

The design, projecting and maintenance of our energy production and distribution
systems are part of our operations. Helsingin Energia is also responsible for
outdoor lighting in Helsinki.

The Group’ subsidiaries are Helen Sähköverkko Oy, Mitox Oy, Mankala Ab,
Kiinteistö Oy Helsingin Sähkötalo, and Suomen Energia-Urakointi Oy. Helsingin
Energia also has associated companies, and it owns power assets in various
companies directly and through Oy Mankala Ab.

2018  2017
 Elements change %
1,000 € 1,000 €
ENVIRONMENTAL COSTS      
Protection of air, soil and surface waters      
 Desulphurisation 5,520  21  4,575 
 Denitrification 572  8  530 
 Removal of particles 335  0  335 
 Waste management and utilisation of combustion
3,421  21  2,827 
product
 Other waste management 747  -9  825 
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 2018  2017
 Elements change %
1,000 € 1,000 €
 Monitoring of emissions and environmental
362  27  285 
impacts
INTERACTION      
Energy-saving advice 1,658  -7  1,787 
Environmental communication and marketing 623  24  503 
Environmental management and training 1,366  -11  1,539 
Environmental protection research and
2,201  30  1,692 
development
Noise and vibration abatement 3  -  1 
Improvement of eco-efficiency 118  -16  141 
Depreciation on environmental
2,870  4  2,761 
protection investments
ENVIRONMENTAL COSTS IN ALL 19,797  11  17,800 
   of turnover 2,7%    2,3% 
   of all expenses 3,4%    3,0% 
ENVIRONMENTAL INVESTMENTS 2,000  -7  2,162 
   of all investments 3,4%    2,9% 
ENVIRONMENTAL LIABILITIES 18,800  0 18,800 
  of balance sheet total 1,1%   1,2%
ENVIRONMENTAL REVENUE 768  -46  1 ,420 

Annual Report, the team Contact information

Ulla-Maija Alander, Marina Galkin-Aalto, Telephone
exchange
Jukka Helin, Pirjo Jantunen ja ympäristötiimi, +358 9 6171
Sanna Jääskeläinen, Arto Korhonen, Eija Lehtomäki, Postal address
Anu Peltonen, Kari Pilkkakangas ja Seija Uusitalo Helsingin Energia
00090 Helen
Financial statements Visiting address
Antti Hellaakoski ja Jani Hirvijärvi Main office Sähkötalo
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Photos Kampinkuja 2 / Malminrinne 6, 3rd
floor
Lauri Eriksson

REFERENCE
Esustainability@icaew.comwww.icaew.com/sustainablebusiness
https://www.helen.fi/en/company

BEBBINGTON, K., J., THOMSON, I. Business Conception of Sustainability and

the Implications for Accountancy. ACCA research report – 48, London, 1996.
ISBN 1898291691
GRAY, R., BEBBINGTON, J. Accounting for the Environment. SAGE, second
edition, reprints 2003. ISBN 0761971368.
Guang long et al (2012) ,”Research on internalization of environmental cost of
economics, IERI procedia Vol 2 pg 460-466

www.cameroon-report.com l’essentiel de l’info du cameroun

dvorakova dana, “environmental information in financial statements”,
researchgate.net

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