Exploring Green Accounting Practices in Indian Companies: A Study on Sustainable Development

Abstract The concept of Green Accounting, also known as Environmental Accounting, was first introduced by Peter Wood in the 1980s. This innovative approach to accounting focuses on the environment and its well-being, providing a dynamic study and practice that is gaining significance globally. Green Accounting is an emerging field that goes beyond traditional profit and loss statements, incorporating the environmental impact of business operations. Although Indian corporations agree with the principles and guidelines for environmental protection, there is still a lack of clear regulations and guidelines at the national, state, and organizational levels to ensure compliance with environmental standards. This study was anticipated to find out the major environmental parameters reported by the two Indian corporate as part of their environmental reporting practice. The study also focused on the extent to laws of environment protection in India. paper focus on process of green accounting, practices in BPCL & ONGC, significant aspects of green accounting, challenges in India, important environmental laws in India, amendments and recent developments, other vital regulations and initiatives Supporting laws in India. There must be a greater amount of severe natural standards and enactment made by the legislature. Every single worker in the association must be made aware of the significance of Green accounting and Ecology.