The role of sustainability accounting in waste reduction: A case study of Nigerian Breweries Plc
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Background of the Study
Sustainability accounting involves the integration of environmental, social, and governance (ESG) factors into an organization’s accounting and financial reporting processes. It focuses on measuring and reporting the environmental and social impacts of business activities, with an emphasis on promoting sustainable business practices (Sani & Aliyu, 2023). In recent years, sustainability accounting has gained significant attention in both the public and private sectors as organizations increasingly recognize the importance of reducing their environmental footprint and promoting sustainable development. Nigerian Breweries Plc, as a major player in the beverage industry, has implemented various sustainability initiatives aimed at reducing waste, conserving resources, and improving environmental performance.
Waste reduction is a critical component of sustainability efforts, particularly in industries with significant resource consumption like manufacturing. Sustainability accounting helps organizations track and report waste production and disposal, identify opportunities for reducing waste, and implement cost-effective strategies to minimize environmental impact (Ogundele & Taiwo, 2024). This study aims to explore the role of sustainability accounting in waste reduction at Nigerian Breweries Plc, evaluating how sustainability accounting practices have contributed to the company's waste management strategies and overall environmental performance.
Statement of the Problem
Despite the growing emphasis on sustainability in the corporate sector, the integration of sustainability accounting practices in waste reduction efforts remains underexplored, especially in Nigeria. Nigerian Breweries Plc, while active in its sustainability initiatives, faces challenges in fully leveraging sustainability accounting to reduce waste across its operations. There is a need for empirical research that investigates how sustainability accounting can improve waste reduction practices and contribute to better environmental outcomes. This study aims to fill this gap by evaluating the effectiveness of sustainability accounting in waste reduction at Nigerian Breweries Plc.
Objectives of the Study
- To assess the role of sustainability accounting in waste reduction at Nigerian Breweries Plc.
- To evaluate the impact of sustainability accounting practices on the company's waste management strategies.
- To identify the challenges Nigerian Breweries Plc faces in implementing sustainability accounting practices for waste reduction.
Research Questions
- How does sustainability accounting contribute to waste reduction at Nigerian Breweries Plc?
- What is the relationship between sustainability accounting practices and waste management at Nigerian Breweries Plc?
- What challenges does Nigerian Breweries Plc face in implementing sustainability accounting practices to reduce waste?
Research Hypotheses
- H₀: Sustainability accounting does not significantly contribute to waste reduction at Nigerian Breweries Plc.
- H₀: There is no significant relationship between sustainability accounting practices and waste management at Nigerian Breweries Plc.
- H₀: Nigerian Breweries Plc does not face significant challenges in implementing sustainability accounting practices for waste reduction.
Scope and Limitations of the Study
The study will focus on Nigerian Breweries Plc and its sustainability accounting practices related to waste reduction. Data will be collected through interviews with sustainability and finance managers, as well as an analysis of the company’s sustainability reports and waste management records. Limitations include the potential lack of detailed internal data on waste reduction and the challenge of measuring the direct impact of sustainability accounting practices on waste levels.
Definitions of Terms
- Sustainability Accounting: A system of accounting that integrates environmental, social, and governance (ESG) factors into financial reporting and decision-making.
- Waste Reduction: Strategies and practices aimed at minimizing the amount of waste generated by an organization, particularly in its manufacturing and operational processes.
- Environmental Performance: The effectiveness of an organization’s efforts to reduce its negative environmental impact through sustainable practices
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