MODULE 3 – RECENT DEVELOPMENTS PART A (2 marks)

1. Define green accounting/ Environment Accounting?

According to Prof. Peter Wood, “ Green Accounting is an attempt to factor
environmental costs into the financial results of operations.”
2. Define Green Banking.
“Promoting environment friendly banking practices and reducing ‘carbon
footprints’ from banking activities by improving banking operations as well as
technology, and making the habits of the clients environment friendly.”
3. Define green marketing.
“ the process of selling products or services based on their environmental
benefits touching every aspects of a business, from packaging to process of
public relations”
4. Define Green Washing.
“ the act of misleading consumer regarding the environmental practices of a
company or the environmental benefits of a product or service”
5. Define Eco- tourism.
The international Eco-tourism Society defines “responsible travel to natural
areas that conserves the environment, sustains the well – being of the local
people, and involves interpretation and education”
6. What is carbon credit and carbon exchange?
Carbon credit – it is a tradable permit or certificate allowing the holder, such as
a company, to emit carbon dioxide or other greenhouse gases.
Carbon exchange – carbon trade is an exchange of credits between nations
designed to reduce emissions of carbon dioxide.
PART B (5 marks)
1. Importance / objectives of Green ACCOUNTING System • Identify the
negative impacts of economic growth.
• Provides a linkage between physical resource accounts and monetary
environmental accounts.
• Provide quantitative estimates
• Acts as information based on planning.
• Accounts to the contribution of natural resources.
2. Advantages / benefits of green accounting.
• Improving environmental performance.
• Investment in efficient technologies.
• Developing ‘greener’ products.
• Helps to evaluate choices.
• Adjusting traditional measures of growth.
3. Limitations of green accounting
• No standard accounting method.
• No comparison is possible.
• Difficulty in assigning value.
• Difficulty in valuing resources consumed.
• High cost.
4. Coverages of green banking / green banking financial products
Online banking, green mortgages, remote deposit capture, green car loans,
green credit cards, mobile banking
5. Steps in green business
• Make an environment assessment of products, services and system,
• identify the opportunity,
• life cycle analysis,
• environmental, social, economic assessment of the life cycle of a product
• Calculation and mitigation of carbon footprint
• Quantification of greenhouse gas emission associated with a product and
services.
• Calculation of water footprint
• Development of diagnosis report and studies to minimise risk and maximise
opportunities
6. Green banking initiatives
• Meaning green banking
• International initiatives –
• National initiatives – public, private
7. What is green washing? And explain consequences of green washing.
Green washing refers to a form of marketing that creates the impression that
the products, aims, or policies of a company are ‘green’ and environmentally
sound than they really are. Consequences – loosing confidence of customers,
loosing the market of even genuine products, loosing reputation of product or
firm, encouraging consumer scepticism, diminishing consumer power.
8. What is eco- tourism ? explain its significance / importance.
Importance – preservation of nature, bringing local people into limelight, long
term development, helps in raising awareness, cultural improvement, reduces
carbon footprint,
9. Explain Indian eco- tourism opportunities and challenges.
Opportunities – scenic beauty, cultural heritage, birthplace of religious
Challenges – lack of infrastructure, safety and security, accessibility, language
problem.
10. What is carbon credit and carbon exchange? And Explain the types of
carbon credit. Carbon credit – it is a tradable permit or certificate allowing the
holder, such as a company, to emit carbon dioxide or other greenhouse gases.
Carbon exchange – carbon trade is an exchange of credits between nations
designed to reduce emissions of carbon dioxide.
Types – Voluntary Emission Reduction (VER) , Certified Emission Reduction
(CER)
11. What is environment audit and explain its types.
Meaning of environment audit, types – environment al compliance audit,
environmental management audit, functional environmental audit.
12. What are the Rights of SC, ST OBC
Abolishes untouchability, promote special care the economic and educational
interest towards weaker section of society, special provision for their
advancement, reservation,
PART C (15 marks)
13. What is Green Banking? Explain its advantages and disadvantages.
Green accounting – advantages- avoiding usage of paper, creating awareness
to business people, saving of time, saving of cost, benefits to future
generations, natural resource conservation. Disadvantages – difficult to
operate, customer care, security concern, technical breakdown.
14. What is green marketing? Explain need/ benefits / importance, objectives
and challenges of green marketing .
• Meaning of green marketing
• Need and benefits / importance/ objectives of green marketing – promote g
of pure
quality products, fair dealing with customers and society, protection of
ecological environment, avoiding waste, reinvesting products, making green,
access to new market, creating eco-friendly messaging, competitive advantage,
brand loyalty and increased brand equity.
• Challenges of green marketing – lack of awareness about green products,
higher cost of green products, difficulty in convincing the customers, difficulty
to sustain, non-cooperation, lack of trust, lack of standardisation.
15. What is environment audit? Explain the need for environment audit.
Environment audit refers to an assessment or verification of the extent to
which an organisation is observing practices which minimise harm to the
environment.
Need / importance – safeguarding the environment, verifying compliance,
assessing training programs, providing credit to environmental performance,
identifying areas of cost savings, comparing information, showcasing the
commitment of the company, identifying the environment risk, avoiding legal
action.