Recently, Baosteel Development Corporation Shanghai Baotian New Building Materials Co., Ltd. issues for the first time annual environmental accounting report. With financial information data, it gives complete recording of last year's input and output effect in environmental management, makes a clear evaluation and analysis of the company's competitive strength and weakness and reveals operational improvement guiding information. The implementation of environmental accounting report system is an innovative practice in Baosteel Development Corporation's optimization of economic operation and management.
Environmental accounting, also known as green accounting, converts environmental management activities into financial information with numerical methods, calculates comparation results of environmental protection activities' cost and environmental and economic effect. Through management tools it solves or improves environmental problems and promotes sustainable business development.
Last year, with Group Corporation's environmental accounting theory research results and combined with environmental management strategy, Baosteel Development Corporation clarifies environmental business; Starting from financial management aspects, it analysis various environmental operating activities status, determines and classifies impact factors; In accordance with accounting system it searches information collection and extraction path, determines environmental accounting element rules, sets environmental evaluation indicator system, develops "Baosteel Development environmental accounting practice project" implementation program and carries out trial at Baotian.
Baotian Co.'s 2012 environmental accounting report records in complete detail the financial information and data related to environmental management, including operating cost, management cost, research and development cost and total emission indicators of sulfur dioxide, smoke and dust, nitrogen oxides, wastewater and it makes an objective analysis of product cost and market competitiveness.
Baosteel Development Corporation says that it will continue to improve and promote environmental accounting report system Through financial indicators provided by environmental accounting, it will have a comprehensive review of business strategy and put "environmental management, green development" management philosophy into day-to-day operation and management. It will eliminate or reduce negative factors, improve asset operational performance and achieve environmental and financial goals' win-win situation.