IMPACT OF ENVIRONMENTAL ACCOUNTING DISCLOSURE PRACTICES ON FINANCIAL REPORTING AND PERFORMANCE OF SELECTED COMMERCIAL BANKS IN NIGERIA
In recent years, the adverse environmental effects on economic development have been a matter of great concern all other the world. This study investigates the extent of environmental disclosure by selected commercial banks in Nigeria. This study examines the association between company specific attributes and environmental disclosure of the sample companies. Content analysis approach using both weighted disclosure index and un-weighted disclosure index was used in analyzing the annual reports in order to measure the volume of environmental information disclosure. The study reveals that on an average sample companies disclosed 21.43% of the expected information in their annual reports and environmental disclosure volume and total asset of the companies are significantly correlated. The study opined that commercial banks in Nigeria are disclosing very inadequate environmental information in their annual reports. Consequently, the study concludes that lack of environmental reporting and disclosure standards significantly affects the reporting and disclosure uniformity of environmental related information in financial statements, annual reports and accounts of commercial banks in Nigeria. Based on these findings, the study among others recommends that environmental accounting standards should be published locally and internationally and reviewed continually to ensure dynamism compliance and meets environmental situational needs.
