Green accounting and sustainability practices in Sri Lankan Garment Industry

Abstract

Introduction

The main aim of this research is to study the green accounting practices which contribute to sustainable development of the garment industry. Green accounting considers environmental costs in the accounting system, which is neglected in the current accounting system. Therefore, the accounting system should be revised taking environmental costs into consideration (Blowfield, 2013). The existing literature motivates the research. Pollution control, sustainable development, projection, cost, estimated life in the environment, product circulation, environmental-centered management systems are main benefits one can get by using green accounting practices (Disanayake, not dated). Reduction of power intake, renewable electricity, reduction of water consumption, reduction of noise pollutants are some of the sustainable production techniques. Two of the main companies in Sri Lankan’s garment industry, MAS Holdings (Pvt) Ltd and Brandix Lanka Ltd were selected for the study.