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Carbon Accounting Practices and Business Sustainability: A Survey of Oil Services Firms in Bonny Local Government Area

Francis Adedoyin, Alawari Owunabo

Abstract

This study investigates the effect of carbon accounting practices on business sustainability in oil services firms operating in Bonny Local Government Area, Rivers State, Nigeria. Using a cross- sectional survey design, data were collected from 186 employees across ten oil services firms through structured questionnaires. The study examined three key relationships: carbon accounting practices and profitability, carbon accounting practices and corporate image, and green financing and business sustainability. Multiple regression analysis revealed that carbon accounting practices significantly and positively affect profitability (? = 0.547, p < 0.001) and corporate image (? = 0.612, p < 0.001), while green financing significantly influences business sustainability (? = 0.589, p < 0.001). The findings suggest that oil services firms can enhance their sustainability performance and competitive advantage through systematic carbon accounting and green financing initiatives. This study contributes to the growing literature on environmental accounting in the oil and gas sector and provides practical insights for managers and policymakers in emerging economies.

Keywords

Carbon accountingbusiness sustainabilitygreen financingcorporate image

References

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