Second workshop held on environmental accounting
13 Jun 1999An environmentally-adjusted national income is needed to measure the financial performance and the development in life standards, said the Director-General of Environmental Affairs at the Ministry of Housing, Municipalities and Environment, Khalid Fakhro.
Speaking yesterday, at the Regional Arab Workshop on Accounting and Financial Reporting for Environmental Cost and Liabilities, Fakhro said that there was a need to develop an accounting system that reflects the real value of the natural resources utilised in finance-related activities.
Speaking yesterday, at the Regional Arab Workshop on Accounting and Financial Reporting for Environmental Cost and Liabilities, Fakhro said that there was a need to develop an accounting system that reflects the real value of the natural resources utilised in finance-related activities.
“The accounting system, which reflects the environmental dimensions and its social and economic impacts on the developmental activities, should be developed into an accounting system that reflects the real value of the resources,” Fakhro said.
He added: “The increasing impact of financial activities on the environment requires a joint analysis of environmental and financial problems.”
Fakhro said that it was difficult to distinguish between the natural environment and economics because economics is part of the nature and should be dealt with as part of the environmental accounting system.
“A balance between the human needs and the needs of other creatures and environmental factors is vital in order to study the impact of human financial activities on the environment.” Fakhro said.
The President of the University of Bahrain, Dr Mohammed Jassim Al Ghatam noted: “One of the main requirements to promote any culture is to enhance a sound environment and work extensively to activate the life circle and renew its natural resources”
“It is important to control the easy-making production and quick-making profit, which requires the use of natural resources at once. As we enter the new millennium, new definitions have emerged and imposed themselves on both the supplier and consumer, as well as on the social policy makers,” Ghatam said.
The issue of environment occupied an advanced state among human priorities on the individual level or the national, regional and international levels.
“The high standard of living is a result of modernity, which may cause environmental problems if no immediate action is taken to combat them. Such environmental problems may lead to economic, social and health damage to the people and society,” Ghatam continued.
Some examples of environmental catastrophes in the world are the Chernobyl nuclear explosion and the environmental damage by continuous wars in the Gulf region, including the Gulf War.
“Despite people’s belief in the principle of saving the environment, there is an absence of database and financial measurements on the environmental obligations in relation with different types of financial activities of industrial establishments, service sector, commercial, profit-making or nonprofit making organisations.” Ghatam said.
Since its establishment, the University of Bahrain has taken a broad view of its responsibility to contribute to the development of Bahrain. The university is pleased to participate in this workshop and to take part in the global movement to protect the environment.
The President of the Arab Society of Certified Accountants, Talal Abu-Ghazaleh, said it was a pleasure to hold the second workshop on environmental accounting in the Arab world in Bahrain, after the first workshop that was held in Alexandria, Egypt in December.
He added: “The increasing impact of financial activities on the environment requires a joint analysis of environmental and financial problems.”
Fakhro said that it was difficult to distinguish between the natural environment and economics because economics is part of the nature and should be dealt with as part of the environmental accounting system.
“A balance between the human needs and the needs of other creatures and environmental factors is vital in order to study the impact of human financial activities on the environment.” Fakhro said.
The President of the University of Bahrain, Dr Mohammed Jassim Al Ghatam noted: “One of the main requirements to promote any culture is to enhance a sound environment and work extensively to activate the life circle and renew its natural resources”
“It is important to control the easy-making production and quick-making profit, which requires the use of natural resources at once. As we enter the new millennium, new definitions have emerged and imposed themselves on both the supplier and consumer, as well as on the social policy makers,” Ghatam said.
The issue of environment occupied an advanced state among human priorities on the individual level or the national, regional and international levels.
“The high standard of living is a result of modernity, which may cause environmental problems if no immediate action is taken to combat them. Such environmental problems may lead to economic, social and health damage to the people and society,” Ghatam continued.
Some examples of environmental catastrophes in the world are the Chernobyl nuclear explosion and the environmental damage by continuous wars in the Gulf region, including the Gulf War.
“Despite people’s belief in the principle of saving the environment, there is an absence of database and financial measurements on the environmental obligations in relation with different types of financial activities of industrial establishments, service sector, commercial, profit-making or nonprofit making organisations.” Ghatam said.
Since its establishment, the University of Bahrain has taken a broad view of its responsibility to contribute to the development of Bahrain. The university is pleased to participate in this workshop and to take part in the global movement to protect the environment.
The President of the Arab Society of Certified Accountants, Talal Abu-Ghazaleh, said it was a pleasure to hold the second workshop on environmental accounting in the Arab world in Bahrain, after the first workshop that was held in Alexandria, Egypt in December.
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