Unveiling the Hidden Environmental Costs Impacting Global Economic Decisions
Environmental management accounting helps businesses understand the full costs of their production processes and the benefits of cleaner practices. Traditional accounting methods often don't capture these environmental costs accurately. Decision-makers often lack information linking environmental performance to economic variables, leading to undervaluing natural resources and good environmental practices. Market-based incentives to consider environmental factors in decision-making are limited. The article discusses different approaches to environmental management accounting and analyzes environmental costs in the current economic context.