Environmental issues have emerged in recent decades as a major aspect of the discussion of the
problems of economic growth and development. Environmental problems associated with
industrial activities in the final decades of the last century have heightened public concerns about the non-financial performance of corporations and increased pressure for the disclosure of environmental information. Over the past decades, there have been plethoras of literature on
corporate environmental disclosures, including studies majorly from developed countries, while
the same is not true of developing countries, particularly Nigeria. Moreso, while there is an
extensive research on the role of the Global Reporting Initiative and the International
Organization for Standardization (ISO) guidelines in determining corporate environmental
performance indicators and the extent of disclosures in annual report in developed economies, in contrast, there is a dearth of studies conducted in the context of developing economies. To this end, this research investigated the extent and nature of corporate environmental reporting
practice among listed firms in Nigeria and South Africa. Also, using the stakeholder theory as
motivation for corporate environmental disclosures, the research examined the perception lobby
groups on the disclosure  of environmental performance information and the corporate
relationship with host community. To achieve this, a grand total of 900 copies of questionnaire
were distributed among members of the selected state/provinces using the Yaro Yamani sample
selection formula in determine the sample size of the study. In addition, while the content
analysis technique was used as a basis for eliciting data from the annual report and corporate
websites of the selected companies, the multiple regression method of data analysis was used to
investigate the relationships that exist between  operating performance, financial leverage
(nature), size of firms‟ and the level of corporate environmental disclosure   among the selected
listed firms in Nigeria and South Africa. The research as part of its findings observed that there is a significant positive relationship between the operating performance, size of firms and the level of corporate environmental disclosures among selected firms in Nigeria. This is however
consistent with existing prior studies. The study also observed that a significant negative
relationship exists between  the financial leverage of firms (proxied by debt -to-equity ratio) and the extent of corporate environmental disclosure. The study therefore concludes that despite the disclosure level noticed among firms,  corporate environmental reporting practice in developing countries like Nigeria and South Africa is still very  adhoc, general, self-laudatory and voluntary in nature.

Title Page --------------------------------------------------------------  i
Declaration--------------------------------------------------------------  ii
Certification------------------------------------------------------------  iii
Dedication--------------------------------------------------------------  iv
Acknowledgements--------------------------------------------------------  v
Abstract----------------------------------------------------------------  vi
Table of Content----------------------------------------------------------  vii
List of Tables------------------------------------------------------------  viii
List of Figures------------------------------------------------------------  ix
Appendices--------------------------------------------------------------  x
Acronyms and Definitions--------------------------------------------------  xi

CHAPTER ONE: Introduction
10  Background of the Study--------------------------------------------------  1
11  Statement of Research Problem---------------------------------------- 5
12  Objectives of Study--------------------------------------------------  8
13  Research Questions------------------------------------------------------------------  9
14  Research Hypotheses------------------------------------------------------------------  9
15  Significance of the Study--------------------------------------------  10
16  Justification of Study------------------------------------------------  11
17  Scope and Limitation of Study------------------------------------------  11
18  Summary of Research Methodology------------------------------------  14
19  Sources of Data  ----------------------------------------------------  15

CHAPTER TWO: Literature Review and Theoretical Framework
20  Introduction  ------------------------------------------------------  23
21  The Concept of Social Responsibility Accounting and Environmental
Accounting--------------------------------------------------------  23
22  What is Environmental Accounting------------------------------------  25
23  The Emergence of Environmental Accounting----------------------------  28
24  Scope of Environmental Accounting------------------------------------ 30
25  What are Environmental Costs------------------------------------------  31
25 1  Identification of Environmental Costs---------------------- 31
26  Corporate Environmental Reporting------------------------------------  35
261  Types of Environmental Reporting--------------------------  39
262  The Principles of Environmental Reporting--------------------  41
263  Why voluntary environmental reporting----------------------  43
27  Global Environmental Reporting Practices--------------------------------  45
271  Environmental Reporting Development in Europe--------------  46
272   North American Environmental Reporting Practice--------------  48
273   The Asian Experience in Environmental Reporting------------  50
274   The Development of Environmental Reporting in-Australia------  50
275   Environmental reporting in African Continent---------------- 52
276   The Nigerian Scenario------------------------------------  52
277  Historical Background on Environmental Regulation in Nigeria-and Firms‟ Attitude-------------------------------------------------- 54
278  Environmental Waste Management Laws in Nigeria------------  56
279  The Nigerian Environmental Laws / Regulations and the
Prescribed Sanctions----------------------------------  56
280  The South African Scenario------------------------------  59
29  Prior Research on Company Characteristics & Corporate Environmental
Reporting--------------------------------------------------------  60
210  Theoretical Framework-------------------------------------------------------------- 77
2101  Framework for Environmental Reporting--------------------------   77
2102  Political Economy Theory------------------------------------------  78
2103  Legitimacy Theory--------------------------------------------------  81
2104  Stakeholder Theory------------------------------------------------  85
2105  Stakeholder Theory and Corporate Environmental
Reporting----------------------------------------------90
2106  Environmental Disclosures and Relevant Financial Reporting-Standards--------------------------------------------  91
2107  Environmental Performance Indicators--------------------  97
2108  Types Environmental Performance Indicators--------------  98
2109  Overview of ISO-------------------------------------- 101

CHAPTER THREE: Research Methods
30   Introduction--------------------------------------------------------  127
31  Research Design----------------------------------------------------  127
32  Study Population--------------------------------------------------  129
33  Sample Size and Sampling Technique for Secondary Data--------------------  129
34  Sample Size and Sampling Technique for Primary Data------------------------  130
35  Data Gathering Method----------------------------------------------  131
351  Sources of Data----------------------------------------  131
352  Research Instruments------------------------------------ 132
353  Validity and Reliability of Instrument------------------------  135
354  Actual Field Work and Administration of Questionnaire
Instruments--------------------------------------------  136
355  Method of Presentation---------------------------------- 137
36  Data Analysis Method------------------------------------------------  137

CHAPTER FOUR: Data Analysis and Result Presentation
40  Introduction------------------------------------------------------  148
41   Data Presentation and Analysis------------------------------------------------------  148
411    Results on Incidence of Corporate Environmental Disclosure
---------------------------------------------------- 149
412    Content –Category Themes of Corporate Environmental
Disclosure----------------------------------------------------  151
413    Content-Category Disclosure of Environmental-Information by Evidence--------------------------------  154
414  Content-Category Disclosure of Environmental-Information by Location--------------------------------------------  157
415  Content-Category Disclosure of Environmental-Information by News-Type--------------------------------  158
42  Data Analysis-------------------------------------------------------- 159
421  Descriptive statistics on the level of Corporate Environmental
Disclosure between Nigerian and South African firms--------  159
422  Impact of Size, Operating Performance and Nature of -Firms on Level of Corporate Environmental Disclosure --------  160
423  Overall Findings from the Two Countries--------------------  160
424  Descriptive Statistics for Averaged ROTA, D/E Ratio,
Size and EDISC for Selected firms in Nigeria---------------------- 161
425  Descriptive Statistics for Averaged ROTA, D/E Ratio,
Size and EDISC for Selected Firms in South Africa----------------  162
426  Correlation Coefficient Analysis of the Relationship between the-averaged ROTA, D/E Ratio, Size and EDISC for firms in
Nigeria1----------------------------------------------164
427  Correlation Coefficient Analysis of the Relationship between
the averaged ROTA, D/E Ratio, Size and EDISC for firms in
South Africa--------------------------------------------167
428  Regression Analysis Results----------------------------------------  168
43  Presentation of Survey Results------------------------------------------------------   170
431  Personal Bio-Data of Respondents--------------------------  172
432  Descriptive Statistics of Respondents--------------------------------  175
433  Reponses on Environmental Regulation/Protection------------  176
434   Reponses on Firms‟ Environmental Disclosure Level----------  178
435  Reponses on Respondents on ED as it Influence the activities of-Lobby Groups------------------------------------------  182
44  Hypotheses Testing------------------------------------------------  186

CHAPTER FIVE: Summary of Findings, Conclusion and Recommendations
50  Introduction------------------ ------------------------------------------------------   194
51  Summary of Work Done--------------------------------------------  194
52  Summary of Findings------------------------------------------------  195
521  Theoretical Findings------------------------------------  195
522  Empirical Findings--------------------------------------------------   197
53  Conclusion--------------------------------------------------------------------------   202
54   Recommendations and Implication of study------------------------------203
55  Contribution to Knowledge--------------------------------------------------------  207
References--------------------------------------------------------------  210


Table 20   Oil Spillage Data in Nigeria (Niger Delta)--------------------------54
Table 40  Industry Based Analysis on Averaged Environmental  Disclosure for -Selected Firms in Nigeria-------------------------------------- 150
Table 41  Industry Based Analysis on Averaged Environmental  Disclosure for -Selected Firms in South Africa----------------------------------  151
Table 42  Averaged Content-Category Theme of Environmental Disclosure for-Selected Industries in Nigeria--------------------------------  153
Table 43  Averaged Content-Category Theme of Environmental Disclosure for-Selected Industries in South Africa------------------------------ 154
Table 44  Descriptive Statistics for Content Category of Themes Disclosure------------  154
Table 45  Averaged Content-Category Disclosures by Evidence for Selected -Industries in Nigeria------------------------------------------  156
Table 46  Averaged Content-Category Disclosures by Evidence for Selected -Industries in South Africa--------------------------------------  156
Table 47  Averaged Content-Category Disclosures by Location for Selected -Industries in Nigeria & South Africa------------------------------  157
Table 48  Averaged Content-Category Disclosures by News Type for Selected-Industries in Nigeria & South Africa------------------------------  158
Table 49   Z-test Two Sample Means----------------------------------  159
Table 410  Descriptive Statistics for selected Nigerian firms--------------------  162
Table 411    Descriptive Statistics for selected South African firms----------------  164
Table 412  Classification of Correlation------------------------------------  164
Table 413  Correlations (Pearson) for Selected Listed Firms in Nigeria------------  166
Table 414  Correlations (Pearson) for selected firms in South Africa--------------  168
Table 415  Summarized Regression Results on the Relationship between Size,
Operating Performance and the Nature of firms on the level of
Corporate Environmental Disclosure from both Countries------------   170
Table 416(a)  Response to Questionnaire--------------------------------------  171
Table 416(b) Summary of Questionnaire  Administered--------------------------  171
Table 417  Bio-Data of Respondents--------------------------------------  173
Table 418  Distribution of Respondents on Environmental
Regulation/Protection------------------------------------------176
Table 419  Distribution of Respondents on Firms‟ Environmental Disclosure Level--  179
Table 420  Distribution of Respondents in both countries on Environmental
Disclosure as it Influence the Activities of Lobby Groups--------------182