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Journal : Kriez Academy

EXPLORING THE ROLE OF ENVIRONMENTAL ACCOUNTING IN PROMOTING CORPORATE SUSTAINABILITY PRACTICES Fatmasari, Raden Roro; Padma Hanuun, Nazhira Nindya; Yolistina, Anggun
KRIEZ ACADEMY : Journal of development and community service Vol. 1 No. 10 (2024): Kriez Academy - September
Publisher : Yayasan Kreatif Indonesia Emas

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Abstract

Background The growing global awareness of environmental issues, such as climate change, resource depletion, and pollution, has led to increased pressure on corporations to adopt sustainable practices. Environmental accounting has emerged as a key tool for integrating environmental concerns into business operations. It involves identifying, measuring, and communicating environmental costs and benefits, enabling organizations to assess their environmental impact and make more informed decisions. Research Method This research employs a mixed-methods approach, combining both qualitative and quantitative data to examine the role of environmental accounting in promoting corporate sustainability. The study involves a comprehensive literature review, case studies, and surveys conducted among 50 corporations across various sectors, including manufacturing, energy, and services. Results and Conclusion The findings of this study demonstrate that environmental accounting plays a crucial role in enhancing transparency, improving resource efficiency, and fostering stakeholder engagement. The research reveals that companies that adopt environmental accounting practices are better able to track and report their environmental performance, leading to increased trust among stakeholders and improved relationships with customers, investors, and local communities. Moreover, environmental accounting enables companies to optimize resource usage, reduce waste, and lower operational costs, contributing to both environmental and financial sustainability. Contribution This study contributes to the existing body of knowledge on environmental accounting by providing a comprehensive analysis of its role in promoting corporate sustainability practices. It offers valuable insights into the benefits and challenges of adopting environmental accounting and provides practical recommendations for overcoming the barriers to its implementation. The study also highlights the importance of transparency, stakeholder engagement, and resource efficiency in achieving sustainability goals and demonstrates how environmental accounting can help companies align their operations with societal expectations.  
Green Economy and Sustainable Finance: Mapping the Readiness of Indonesian Financial Institutions Yolistina, Anggun
KRIEZ ACADEMY : Journal of development and community service Vol. 1 No. 11 (2024): Kriez Academy - October
Publisher : Yayasan Kreatif Indonesia Emas

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Abstract

This research undertakes a comprehensive exploration of the readiness of Indonesian financial institutions to implement the core principles of a green economy and sustainable finance. In an era where global capital is increasingly directed toward environmentally and socially responsible ventures, the capacity of the national financial sector to respond to this shift is a critical determinant of Indonesia's long-term economic resilience. Through a multi-method study that combines a systematic document analysis of 30 institutional reports and disclosures with in-depth, semi-structured interviews with 18 finance professionals, the paper provides a nuanced evaluation of current practices. The analysis focuses on five key readiness criteria: the existence of dedicated ESG policies, the integration of environmental risk into credit and investment frameworks, the innovation of sustainable products (e.g., green bonds), internal technical capacity, and the extent of stakeholder engagement. The findings reveal a moderate but uneven state of readiness across the sector, with top-tier commercial banks demonstrating greater preparedness than regional and smaller institutions. The primary barriers identified include persistent regulatory uncertainty, a significant lack of trained technical capacity, the low availability of standardized ESG data, and a perceived conflict between sustainability initiatives and short-term profitability. This paper concludes by arguing that while regulatory momentum exists, progress is hampered by institutional inertia and capacity gaps. It proposes a strategic roadmap for greater coordination among regulators, financial institutions, and academic bodies to embed sustainable finance as a core component of the Indonesian financial ecosystem, thereby aligning the sector's growth with the nation's ambitious green economy goals.