Omission of Triple Bottom Line Reporting: Cause of Corporate Entities’ Environmental Neglect in Nigeria

Abstract

The study critically looked into the ways in which social and environmental provisions in Nigeria can be improved upon and the body that should be socially responsible. Is it the government or the corporate entities? This paper selected six companies that are quoted in Nigeria Stock Exchange, taking two from each sector, and examined the content and quality of the concerns demonstrated in their 2013 Annual Report and Accounts for Social and environmental issues in Nigeria. Special attention was placed on the similarities or differences among the companies in their social and environmental care. This paper discovered that social and environmental issues in Nigeria had been grossly neglected by the corporate entities. They hardly reported on it in their annual reports. Even where there was reported on the social and environmental issues, it is always in the Chairman’s speech. The main conclusion of this paper is that corporate social responsibility (CSR) is an integral part of the new business model and that it is increasingly recognized that the role of the business sector is critical. As a part of society, it is in business’ interest to contribute to addressing common problems. Strategically speaking, business can only flourish when the communities and ecosystems in which they operate are healthy.