Environmental Accounting and Reporting by Maria-Gabriella Baldarelli Mara Del Baldo & Ninel Nesheva-Kiosseva

Author:Maria-Gabriella Baldarelli, Mara Del Baldo & Ninel Nesheva-Kiosseva
Language: eng
Format: epub
Publisher: Springer International Publishing, Cham

Source: GBS, Research document No. 2, 2007d: 34–35

aSee GBS document No. 2 (2007d), Table No. 2.2.4: 33

5.1.8 The GBS Research Document No. 3: Environmental Reporting and Value Added

This document (GBS 2007b) is the outcome of a deepening of research data concerning environmental accountability. On 30 May 2001, the European Commission issued the 2001/453/CE Recommendation on the “accounting, evaluation and disclosure of environmental information in annual accounts and company reports on corporate management,” a nonbinding act applicable to both the financial statement and the consolidated financial statement.

The GBS has verified the effects on ordinary financial accountability of this recommendation and has proposed changes to be made to the first base standard in order to insert the environmental stakeholder in the calculation of value added and its distribution. It has furthermore defined the guidelines on the basis of a comparative synthesis with GRI (differences between the guidelines G3 Draft, Version for public comments, and G3) and national (Consiglio Nazionale dei Dottori Commercialisti and Ragionieri Commercialisti; CSR-SC, FEM (Fondazione Enrico Mattei) model) and international documents (FEE (Fédération des Experts Comptables Européens))28 and new instruments of self-regulation and control, such as environmental certification (EMAS) and ISO 14001.

Specifically, the first part of the document contains an analysis of the EU recommendations (aims and field of application) and the extension of the financial statement as a result of the input of environmental data.

The reasons for the commission’s intervention can be summed up as follows:The evaluation of environmental costs and risks in the annual reports increases the companies’ awareness concerning the environment.

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