Chartered Accountant | Internal Control | Risk management | Regulations and compliance | Audit
🌍 New Research Alert! 🌱 I am excited to share the results of a groundbreaking research collaboration with #FolasadeFoyekePeters that delve deep into an increasingly critical topic: Analysis of Corporate Environmental Cost Disclosure on Profitability of Listed Manufacturing Firms in Nigeria. In today’s world, businesses are constantly being challenged to balance profitability with sustainability, and our study sheds light on just how these two goals can go hand in hand. Here’s what we discovered: 📈 Companies that disclose their environmental costs, including areas such as pollution detection, social responsibility, and compliance expenses, see a notable positive impact on their profitability, particularly reflected in improved net profit margins. 💡 Our research proves that transparency in environmental costs isn't just good for the planet; it’s good for businesses. Manufacturing firms that adopt clear environmental reporting practices enjoy better reputations, attract socially responsible investors, and ultimately see growth in their bottom line. What does this mean for the future of business in Nigeria? 🔍 We argue that environmental cost disclosures should be made mandatory, as the long-term benefits far outweigh the costs. The Nigerian manufacturing sector has a massive opportunity to align with global sustainability practices and enhance their profitability at the same time. 🔗 Want to know more? Check out the full study here: https://lnkd.in/e6XdJh_U I’m incredibly proud of this collaboration and hope it contributes to a broader discussion on the role of corporate responsibility and sustainability in driving profitability. Let’s build businesses that thrive and sustain our planet for future generations! CC: Usman Amjad, Neil J Fletcher, ANTHONY ONI, Freeman Brobbey Owusu, Dr Ifedapo Francis Awolowo, Dr Yemisi Akinbobola, Dr Dora Chan, Adeola Oyebowale. #Sustainability #CorporateSocialResponsibility #EnvironmentalDisclosure #Profitability #Research #Nigeria #SustainableBusiness #ManufacturingInnovation #FutureOfBusiness #SustainableDevelopment
Attended Ladoke Akintola University of Technology
3moInteresting Thank you for sharing this sir