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Environmental Accounting Guidelines and Corporate Cases in Korea

Implications for Developing Countries
  • Byung-Wook Lee
  • Seung-Tae Jung
  • Jeong-Heui Kim
Chapter
Part of the Eco-Efficiency in Industry and Science book series (ECOE, volume 18)

Abstract

Since the 1990s environmental accounting has spread rapidly as an effective tool for environmental management. Leading global companies, especially in Europe, North America and Japan, have applied environmental accounting to enhance their eco-efficiency and resource productivity.

Moreover, increasing external pressure from stakeholders like financial institutions, SRI (Social Responsible Investment), the government, and local communities has forced companies to show an active interest in environmental accounting.

Compared to advanced companies in developed countries, however, most companies in developing countries are still far behind in understanding and applying environmental accounting techniques and methods.

As a wide range of Korean stakeholders has been interested in corporate environmental performance and its disclosure in annual reports since the mid-1990s, a number of leading Korean companies have started to introduce environmental accounting. Also, in the late 1990s the Korean government made efforts to disseminate environmental accounting into the industrial sector to promote sustainable development. The Korean Ministry of Environment (KMOE) developed the “Environmental Accounting Guidelines” to disseminate information about environmental accounting into the corporate world1. Also, LG Environmental Strategy Institute (LGESI) is carrying out an EMA (Environmental Management Accounting) project to develop corporate EMA cases; these are funded by the Korean Ministry of Commerce, Industry and Energy (KMOCIE).

Keywords

Social Responsible Investment Environmental Cost Corporate Environmental Performance Environmental Accounting Poll Ution Treatment 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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References

  1. Lee, B.W. (1998), Studies on International Trends of Environmental Accounting and Policy Options, Korea Chamber of Commerce & Industry.Google Scholar
  2. Lee, B.W., Kim, J.D., Jang J.I., Jung, S.T. and Chun, Y.O. (2001), Environmental Accounting Systems and Environmental Performance Indicators, Korean Ministry of Environment, World Bank.Google Scholar
  3. Lee, B.W., Jung, S.T. and Chun, Y.O. (2002), Environmental Accounting in Korea: Cases and Policy Recommendations, Environmental Management Accounting: Information and Institutional Developments. Kluwer Academic Publishers.Google Scholar
  4. LGESI (2003), Environmental Cost Accounting Guideline (Draft), Korean Ministry of Environment.Google Scholar
  5. Schaltegger, S. and Burritt, R.L. (2000), Contemporary Environmental Accounting: Issues, Concepts and Practice, Sheffield: Greenleaf.Google Scholar

Copyright information

© Springer 2005

Authors and Affiliations

  • Byung-Wook Lee
    • 1
  • Seung-Tae Jung
    • 1
  • Jeong-Heui Kim
    • 1
  1. 1.Sustainable Management Division of LG Environmental Strategy Institute (LGESI)Korea

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