Evaluation of Environmental Financial Reporting Practices among Nigeria Quoted Companies

Abstract

This paper examined evaluation of environmental financial reporting practices among Nigeria quoted companies. This study used both primary and secondary data. Primary data was obtained through the administration of a structured questionnaire which was distributed among 302 respondents randomly selected from twenty percent (20%) of the entire quoted Nigerian companies whose population stands at 216 as at January 2016. Secondary data was obtained from the annual reports and accounts of the sampled companies covering a period of 10 years (2007-2016). Anova was used to determine the level of corporate environmental disclosure practices among Nigerian quoted companies and one-way anova was used to evaluate the level of compliance of quoted companies in Nigeria comply with the ISO. Results showed that 80% of respondents affirmed that environmental information disclosed by companies formed a major part of company's annual report and corporate website. It was also observed that there was a significant difference in the level of corporate environmental disclosure among selected quoted companies (p=0.224).  Also 90% of respondents affirmed that there was corporate environmental disclosure practice production in the study area. The study concluded that environmental reporting among Nigerian quoted firms complied with ISO 14031 requirements Return on Total Asset, Debt-to-Equity Ratio and Firm Size had positive significant effect on Environmental Disclosure Index.