Green Accounting: The Way to Economic Sustainability

The emergence of green accounting began in 1992 in the United States of America. This was as a result of the concerns of the external stakeholders. They stakeholders understood that the prevention pollution would not be adopted as the primary choice of environmental management by firms and industries until the costs of non-preventive methods and the economic values of the prevention of pollution could be seen by managers and business decision making bodies. Green accounting considers environmental resources and vicissitudes in them, it integrates the result into the system of national account thus to provide quality information, which serves as a foundation for planning and making policy for integrated sustainable development and by extension, growth of the nation. Nations of the world mine and drill natural resources not regarding the impact it leaves on the environment.