INTEGRATING ENGINEERING AND SUSTAINABLE ACCOUNTING TO ACHIEVE ENVIRONMENTAL SUSTAINABILITY: AN APPLIED STUDY OF IRAQI OIL COMPANIES
Keywords:
Engineering accounting, Sustainable accounting, Environmental cost accountingAbstract
This research seeks to establish how engineering activities can be incorporated with sustainable accounting into Iraqi oil firms to improve the environmental and accounting aspects. Analyzing both quantitative and qualitative data, the study quantitatively investigates the effectiveness of this integration while qualitatively examining the perceptions of this integration through a case study. There is a mixed relationship between the integration of the engineering data and the perceived benefits based on the quantitative data and qualitative responses regarding its contribution to sustainability initiatives and decisionmaking, for which there is a positive perception, albeit due to a limited quantitative statistical influence of the demographic variables. The study lays down enormous future consequences for the oil sector. It indicates that properly integrating engineering and accounting disciplines can revolutionize environmental policies and enhance financial reporting techniques. These insights call for optimizing the current business practices to maximize the benefits of integrating engineering and accounting for the conservation of the environment and enhancing economic performance
References
Almagtome, A. H., Al-Yasiri, A. J., Ali, R. S., Kadhim, H. L., & Heider, N. B. (2020). Circular economy initiatives
through energy accounting and sustainable energy performance under integrated reporting
framework. International Journal of Mathematical, Engineering and Management Sciences, 5(6), 1032.
Alnoor, A., Chew, X., Khaw, K. W., Muhsen, Y. R., & Sadaa, A. M. (2024). Benchmarking of circular economy
behaviors for Iraqi energy companies based on engagement modes with green technology and environmental,
social, and governance rating. Environmental Science and Pollution Research, 31(4), 5762-5783.
Alshehhi, A., Nobanee, H., & Khare, N. (2018). The impact of sustainability practices on corporate financial
performance: Literature trends and future research potential. Sustainability, 10(2), 494.
Andersen, A. D., & Gulbrandsen, M. (2020). The innovation and industry dynamics of technology phase-out in
sustainability transitions: Insights from diversifying petroleum technology suppliers in Norway. Energy Research
& Social Science, 64, 101447.
Bridge, G., Özkaynak, B., & Turhan, E. (2018). Energy infrastructure and the fate of the nation: Introduction to
special issue. Energy research & social science, 41, 1-11.
Cuckston, T. (2018). Making accounting for biodiversity research a force for conservation. Social and
Environmental Accountability Journal, 38(3), 218-226.
Ebaid, I. E. S. (2022). Sustainability and accounting education: perspectives of undergraduate accounting
students in Saudi Arabia. Journal of Applied Research in Higher Education, 14(4), 1371-1393.
Fethi, S., & Rahuma, A. (2020). The impact of eco-innovation on CO2 emission reductions: Evidence from
selected petroleum companies. Structural Change and Economic Dynamics, 53, 108-115.
Haque, F., & Ntim, C. G. (2018). Environmental policy, sustainable development, governance mechanisms, and
environmental performance. Business Strategy and the Environment, 27(3), 415-435.
Ibrahim, Y. M., Hami, N., & Othman, S. N. (2019). Integrating sustainable maintenance into sustainable
manufacturing practices and its relationship with sustainability performance: A conceptual
framework. International journal of energy economics and policy, 9(4), 30-39.
Kamble, S. S., Gunasekaran, A., & Gawankar, S. A. (2018). Sustainable Industry 4.0 framework: A systematic
literature review identifying the current trends and future perspectives. Process safety and environmental
protection, 117, 408-425.
Kober, T., Schiffer, H. W., Densing, M., & Panos, E. (2020). Global energy perspectives to 2060–WEC's World
Energy Scenarios 2019. Energy Strategy Reviews, 31, 100523.
O’Dwyer, E., Pan, I., Acha, S., & Shah, N. (2019). Smart energy systems for sustainable smart cities: Current
developments, trends and future directions. Applied energy, 237, 581-597.
Olson, E. G. (2021). Environmental disclosures in the oil industry under new regulations. Energy Policy, 148,
https://doi.org/10.1016/j.enpol.2020.111916
Orazalin, N., & Mahmood, M. (2018). Economic, environmental, and social performance indicators of
sustainability reporting: Evidence from the Russian oil and gas industry. Energy policy, 121, 70-79.
Pizzi, S., Moggi, S., Caputo, F., & Rosato, P. (2021). Social media as stakeholder engagement tool: CSR
communication failure in the oil and gas sector. Corporate Social Responsibility and Environmental
Management, 28(2), 849-859.
Qian, W., Tilt, C., & Belal, A. (2021). Social and environmental accounting in developing countries: contextual
challenges and insights. Accounting, Auditing & Accountability Journal, 34(5), 1021-1050.
Rentizelas, A., de Sousa Jabbour, A. B. L., Al Balushi, A. D., & Tuni, A. (2020). Social sustainability in the oil
and gas industry: institutional pressure and the management of sustainable supply chains. Annals of Operations
Research, 290, 279-300.
Schroeder, R. G., Clark, M. W., & Cathey, J. M. (2022). Financial accounting theory and analysis: text and cases.
John Wiley & Sons.
Song, M., Fisher, R., & Kwoh, Y. (2019). Technological challenges of green innovation and sustainable resource
management with large scale data. Technological Forecasting and Social Change, 144, 361-368.
Downloads
Published
How to Cite
Issue
Section
License
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.