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Industry 4.0 and environmental accounting: a new revolution?

Author

Listed:
  • Roger Burritt

    (University of Kassel)

  • Katherine Christ

    (University of South Australia Business School)

Abstract

The paper seeks to examine how, through environmental accounting, the broader context of corporate sustainability could be incorporated into the developing vision for Industry 4.0, the fourth industrial revolution. An argument is developed that through engagement of the profession environmental accounting could be enhanced and could piggy-back at little extra cost on large actual and potential investments being made in Industry 4.0 infrastructure designed for digitisation of business. Industry 4.0 could be used successfully as a basis upon which to leverage both external environmental accounting and environmental management accounting. A new academic research program is suggested aimed at establishing how Industry 4.0 might facilitate more accurate, high quality, real time environmental management accounting and external environmental reporting in relevant sectors, company sizes, across different management roles and collaborative settings, as well as in supply and value chains. Ways are outlined in which accountants, professional associations and government can help capture the benefits of Industry 4.0 for environmental accounting. These include education and training opportunities and building on efficiency and lower cost notions which are a key part of Industry 4.0. This innovative paper provides first research into the potential of current and expected large investments throughout the world in Industry 4.0 to provide a foundation for improvements in corporate sustainability through greater take up of environmental accounting.

Suggested Citation

  • Roger Burritt & Katherine Christ, 2016. "Industry 4.0 and environmental accounting: a new revolution?," Asian Journal of Sustainability and Social Responsibility, Springer, vol. 1(1), pages 23-38, December.
    • Handle: RePEc:spr:ajossr:v:1:y:2016:i:1:d:10.1186_s41180-016-0007-y
    DOI: 10.1186/s41180-016-0007-y
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    References listed on IDEAS

    as
    1. Roger L. Burritt & Stefan Schaltegger & Dimitar Zvezdov, 2011. "Carbon Management Accounting: Explaining Practice in Leading German Companies," Australian Accounting Review, CPA Australia, vol. 21(1), pages 80-98, March.
    2. Martin Bennett & Stefan Schaltegger & Dimitar Zvezdov, 2011. "Environmental Management Accounting," Palgrave Macmillan Books, in: Magdy G. Abdel-Kader (ed.), Review of Management Accounting Research, chapter 3, pages 53-84, Palgrave Macmillan.
    3. C Herzig & T Viere & S Schaltegger & R.L Burritt & Ki-Hoon Lee, 2012. "Environmental Management Accounting: Case studies of South-East Asian Companies," Accounting Forum, Taylor & Francis Journals, vol. 36(4), pages 310-312, December.
    4. Sue Hrasky, 2011. "Carbon footprints and legitimation strategies: symbolism or action?," Accounting, Auditing & Accountability Journal, Emerald Group Publishing, vol. 25(1), pages 174-198, December.
    5. Thomas Wiedmann & John Barrett, 2010. "A Review of the Ecological Footprint Indicator—Perceptions and Methods," Sustainability, MDPI, vol. 2(6), pages 1-49, June.
    6. Christ, Katherine L., 2014. "Water management accounting and the wine supply chain: Empirical evidence from Australia," The British Accounting Review, Elsevier, vol. 46(4), pages 379-396.
    7. Denis Cormier & Michel Magnan, 2015. "The Economic Relevance of Environmental Disclosure and its Impact on Corporate Legitimacy: An Empirical Investigation," Business Strategy and the Environment, Wiley Blackwell, vol. 24(6), pages 431-450, September.
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    Cited by:

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    2. Moll, Jodie & Yigitbasioglu, Ogan, 2019. "The role of internet-related technologies in shaping the work of accountants: New directions for accounting research," The British Accounting Review, Elsevier, vol. 51(6).

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