环境会计相关信息披露英文版docx.docx
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环境会计相关信息披露英文版docx.docx
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环境会计相关信息披露英文版docx
Environmentalaccounting.Issues,reportinganddisclosure
Abstract
Withcleanupcostsofhazardouswastesexpectedtorunashighas$500billionto$1trillionoverthenext50years,environmentalreportinganddisclosurebyfirmsintheUnitedStatesduringthe2000'swillbecomemoreprolific.Thismanuscriptseekstoprovideanunderstandingofthemagnitudeofenvironmentalissues,abriefhistoryoftheEPA,discussionofenvironmentalregulatoryactsandenforcement,andreportinganddisclosurerequirementsbytheSECandFASB.
Introduction
Oneofthebiggestconcernsthatfirmswillfaceinthe2000'swillbereportinganddisclosingofenvironmentalissues.Byearly1996,theEnvironmentalProtectionAgency(EPA)hadidentifiedover36,000hazardouswastesitesintheUnitedStates,andtheidentificationofadditionalsitescontinues.TheEPAestimatesthattotalcleanupcostsofallidentifiedhazardouswastesitescouldrunashighas$500billionto$1trillionoverthenext50years(JensenandUnger1991).Interestingly,someofthelargestpubliccorporationsintheUnitedStateshavebeenidentifiedbytheEPAasresponsibleparties.
The1,405mostseriouslycontaminatedpropertieshavebeenplacedontheNationalPrioritiesList(NPL),andarecommonlyreferredtoasSuperfundsites.FromtheseSuperfundsitesalone,theEPAhasidentifiedmorethan15,000PotentiallyResponsibleParties(PRPs)(JensenandUnger1991).(APRPisapersonorentitydesignatedbytheEPAaspotentiallyresponsibleforthecostsincurredincleaningupthesite(s).)TheaveragecosttocleanupaSuperfundsiteisestimatedtobe$35million(Dixon,Drezner,andHammitt1993);moretroublesomesitescouldrunashighas$1billioneach(JensenandUnger1991).Todate,onlyabout498oftheseSuperfundsiteshavebeencleaneduptotally.
Inlightoftimeandresourcecommitmentcoststocleanupthesehazardouswastesites,thepotentialimpactonsomespecificentitiescouldbeenormous.Accordingly,itislogicalthatthepublicwouldwanttoknowabouttheexistenceofanyenvironmentalissuesforwhichareportingentitymightbeheldresponsible.Withthisinmind,theunderlyingpurposeforthismanuscriptistoprovideanunderstandingofthemagnitudeofenvironmentalissuesintheUnitedStates,abriefhistoryoftheEnvironmentalProtectionAgency,environmentalregulatoryactsandmethodsofenforcementbytheEPA,andcurrentdisclosurerequirementsforcorporationsbytheSecuritiesandExchangeCommission(SEC)andtheFinancialAccountingStandardsBoard(FASB).
MagnitudeofEnvironmentalPollution
EnvironmentalpollutionintheUnitedStatesisamajorissue.Inassessingenvironmentalpollution,specificallyhazardouswastes,inthiscountry,theEPAmadethefollowingstatements:
Thereareapproximately240,000,000peopleintheUnitedStates.Trytoimagineatonofhazardouswastepilednexttoeachofthem,withanothertonaddedeachandeveryyear.
Hazardouswasteisproducedinthiscountryattherateof700,000tonsperday.That's250milliontonsperyear--enoughtofilltheSuperdomeinNewOrleans1,500timesover.(EnvironmentalProtectionAgency1987,p.14)
Althoughitistruethattheamountofhazardouswasteislarge,mostofthiswasteisnotdumpeddirectlyintotheenvironment.Givensufficientincentives,mostofthehazardouswasteproducedprobablycouldberecycledasenergysourcesorbechemicallystabilized.
However,inthepast,publiccorporationswerenotasknowledgeableabouttheimpactofthesehazardouswastesonhumansastheyarenow.Additionally,theylackedsufficientincentivesto,andwerenotrequiredto,properlydisposeofhazardousmaterials.Today,thesecompaniesarebeingforcedtoaddresstheirlackofforesightbyacceptanceofresponsibilityand,therefore,liabilityforpastwastes.Thisliabilityultimatelyleadstodisclosurebypubliccorporations.TheEPAistheprincipalfederalagencyresponsibleforidentifyingthecompaniestobeheldresponsibleforthesepastwastes.
HistoryoftheEnvironmentalProtectionAgency
PresidentRichardM.NixoncreatedtheEnvironmentalProtectionAgency(EPA)asanindependentagencyoftheUnitedStatesgovernmentbyanExecutiveOrderentitled"ReorganizationPlan3of1970."WhilemostfederalagencieshavebeencreatedbyCongress,thecreationofanagencybyexecutiveorderwasuniqueandimpliedlackoflegislativesupport.
Designedtoensuretheprotectionofnationalenvironmentalhealth,theEPAhasnotalwaysreceivedmeaningfulsupportfromCongress.Earlybudgetsweremeager,andtheagency'smainheadquartersinWashington,D.C.waslocatedinanoldcondominium。
(onceownedbyVice-PresidentSpiroAgnew,whohadtroublesellingitthroughregularrealestatechannels).
Althoughitreceivedminimalsupportoriginally,sinceitscreatio
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