IMPACTS OF SUSTAINABILITY REPORTING ON CORPORATE PERFORMANCE OF SELECTED QUOTED COMPANIES IN NIGERIA

The over all objective of any organization is to consistently grow and survive on a long term basis. Most managers are also aware that their organizations are part of a large system which has profound direct and indirect influence on their operations. This implies that if these organizations must effectively and efficiently meet their objectives, they should properly adapt themselves to their environments. Adapting organizations (especially firms) to their environments signifies a reciprocal or symbiotic relationship between the ‘duos’ as typified by systems model of viewing business. Considering the current environmental crisis, businesses must give more to their environment. The environment in which businesses operate is on an unsustainable course. We are now faced with serious challenge of environmental changes such as global warming, health care and poverty. This situation is similar to what Welford (1997:3) described as tangible environmental crises (serious water shortage across around the world, global food insecurity and decline in fish catches). According to (Vlek & Steg 2007:3), Ezeabasili (2009:369) as human population continue to grow, material consumption intensifies and production technology further expands there is a steady decline in the quantity and quality of environmental resources. There is continuing concern about nature fragmentation and loss of biodiversity, shortages in freshwater availability, over-fishing of the seas, global warming, extreme weather events, air pollution, water pollution, environmental noise and utter neglect and disregard for the protection of the immediate environment, much more the future environment.

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