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- W4295329192 abstract "Climate change has gradually become a global problem of which Nigeria is not an exception particularly due to the large quantities of fossil fuel nature has deposited in the country. Extraction and production of these natural resources for commercial and economic purposes have resulted in carbon emissions with its associated adverse consequences on the health of ecosystems and biodiversity in Nigeria, especially in the Niger-Delta region. There is now environmental degradation because the level of environmental regulations and compliance is abysmally low. Hence, motivation to address climate change and reporting is hoped to change organizational behaviour such that organizations will put in place internal greenhouse gases’ emissions measurement, reporting and monitoring systems that will cater for their internal information needs and meet demands of various stakeholders who require access to this information, including shareholders, regulators, commercial partners, investors, financial institutions and consumers. This research is exploratory; designed to seek and explore what companies in Nigerian oil and gas industry stand to benefit in terms of business development if they assess their carbon risks and report adequately, and to assess the challenges associated with this, and roles of professionals, majorly accountants, in carbon risk assessment and reporting. This research uses Oando Plc as a case study to develop a conceptual framework for oil and gas companies in Nigerian oil and gas industry using theories such as PESTEL, Resource Based View (RBV) and Dynamic Capabilities to develop and dig deeper into the study by means of abductive approach. The study intends to benchmark benefits currently being gained by advance countries such as the United Kingdom and Canada since they have commenced carbon disclosure either voluntarily or mandatorily in their business report and how replicating this will improve the development of oil and gas business strategy such as Oando Plc. Oando Plc discloses certain emission related information in its sustainability reports, the effects of the disclosures could be better if backed by regulation. The research established that carbon risk assessment and reporting would help firms develop business strategy and clear direction on action plan for goals attainment. It is further found that carbon risk assessment and reporting help investors and businesses with all-inclusive information needed for investment decisions and risk management. Furthermore, it is found that accountants have the ability to play an important role as carbon managers alongside other industry professionals like geoscientist and production engineers with a view to actualizing global emissions reduction targets as Nigeria is the highest contributor to the African greenhouse gases’ total emissions and a member of Paris agreement. The study revealed that accountants in Nigeria are ready to undergo further training in order to possess all requisite expertise required for carbon accounting in line with available international best practices. Accountants and other professionals at Oando Plc are ready to embrace mandatory carbon assessment and reporting as soon as the regulators in the Nigeria oil and gas industry commence full implementation." @default.
- W4295329192 created "2022-09-13" @default.
- W4295329192 creator A5073065772 @default.
- W4295329192 date "2022-06-30" @default.
- W4295329192 modified "2023-09-25" @default.
- W4295329192 title "Exploring the Potential Benefits of Carbon Risk Assessment and Reporting for the Development of Business Strategy in the Nigerian Oil and Gas Industry: A Case Study of Oando Plc" @default.
- W4295329192 doi "https://doi.org/10.24940/theijbm/2022/v10/i6/bm2206-030" @default.
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