Page 128 - GS_Journal_2016_back2back with agenda cover

UCU GS Research Journal
CORPORATE ENVIRONMENTAL REPORTING DISCLOSURE PRACTICES
AMONG SELECTED LISTED FIRMS
ALYSSA CASSANDRA I. NORIEGA

This study was conducted to determine the level of corporate environmental reporting
disclosure practices among selected listed firms. Specifically, Part I, focused on the profile of the
respondents as well as the business profile. Part 2 of the questionnaire deals on finding the level
of environmental disclosure practices of selected listed firms in terms of: community involvement,
energy, environmental policies, employee health and safety, products, services and customers,
research and development, location of environmental disclosure and other environmental
information. Finally, Problem No. 3 determined whether or not there is a significant difference
between the levels of environmental reporting disclosure practices in the different areas and the
profile variables.
Based from the data gathered, the following were the findings: Majority of the
respondents were female, young, single, college graduate with 6-10 years in service and had
undergone relevant trainings on environmental concerns. It has found out that majority of the
listed firms disclose in their financial statements their social responsibility in terms of community
involvement, energy, environmental policies, employee health and safety, products, services
and customers, research and development, location of environmental disclosure and other
environmental information.
Conclusions drawn from the findings are, the respondent – employees could be
characterized as typical employees in the different industry, but its young and inexperienced
personnel also connotes a fast turn-over of workers. The respondent – companies should
enhance certain practices in the different areas of environmental disclosure reporting practices.
Age, sex, educational attainment and number of years in service are the variable that could
differentiate the level of corporate environmental practices of the different companies.
Formulated recommendations were: management should offer more career development
plans, attractive benefits and conducive working environment for the welfare of its employees
to motivate long-term employee employer relationship. Proposed intervention measures were
forwarded for the enhancement of environmental practices to achieve sustainable development.
The Companies accounts should provide a context for the present and future economic
development of the company. Well-functioning environmental reporting process can provide
adequate measures to ensure a more beneficial resource allocation. Furthermore, practicing
environmental reporting help eliminate unknown risks. Corporate awareness may initiate
establishing of internal systems that lead to a lower risk of potential environmental damage.
Hence, transparency regarding environmental aspects will attract investors that want to put their
money in sustainable enterprises.
120