GREEN AUDIT's contribution towards the United Nation's Sustainable Development (SDGs)Goals
ZAHID MUNIR
★FCA (ICAEW) UK ???? | FCCA(UK) | FCPA Australia ???? | ex-EY | | ex-Group CFO | Research Scholar | ESG | Corporate Governance | Green Audit?? | Sustainability ??| ?? Climate | UN SDGs |CSR|IFRS| Blue Economy??★
Green Audit is a process of systematic identification, quantification, recording, reporting and analysis of components of environmental diversity of various establishments. It aims to analyze environmental practices within and outside of the concerned sites, which will have an impact on the eco-friendly ambiance and will be the major contribution towards the achievement of Climate Action one of the United Nation’s Strategic Development Goals (SDGs) by 2030.
Green audits can be a useful tool for an organization to determine how and where they are using the most energy or water or resources; the organization can then consider how to implement changes and make savings. It can also be used to determine the type and volume of waste, which can be used for a recycling project or to improve the waste minimization plan. It can create health consciousness and promote environmental awareness, values and ethics. It provides stakeholders a better understanding of Green audits' impact on the environment and ultimately on the company's maximization of shareholder's wealth. If self-inquiry is a natural and necessary outgrowth of quality knowledge. Thus it is imperative that the organization evaluate its own contributions and evaluate the footprints toward a sustainable future. As environmental sustainability is becoming an increasingly important issue for the nation, the role of higher manufacturing, mining, transportation and aviation organizations in relation to environmental sustainability is more prevalent.
Auditors can play an important role to plan environmental audits, environmental risk assessments, environmental internal controls and designing audit methodology and using green information technology to evaluate environmental key performance indicators (KPIs) and providing environmental sustainability reports as a part of assurance services. This could be beneficial for the flourishment of the audit industry as well as a contribution towards SGDs.
The rapid urbanization and economic development at local, regional and global levels have led to several environmental and ecological crises. On this background, it becomes essential to adopt the system of the Green departments for the institutes which will lead to sustainable development and at the same time reduce a sizable amount of atmospheric carbon-di-oxide from the environment. Moreover, it is part of the Corporate Social Responsibility (CSR) of the Listed organizations to ensure that they contribute towards the reduction of global warming through Carbon Footprint reduction measures.?
In recent times, the Green Audit of organizations has been becoming paramount important for self-assessment of the institution which reflects the role of the institution in mitigating the present environmental problems. Many organizations undertake a lot of good measures to resolve these problems but are not documented due to a lack of green documentation awareness. All these non-scholastic efforts of the administrations play an important role in ensuring the green quotient of the campus is intact.
Therefore, the purpose of the present green audit is to identify, quantify, describe and prioritize the framework of Environment Sustainability in compliance with the applicable regulations, policies and standards.?
Moreover, an?environmental audit?is a type of evaluation intended to identify environmental compliance and management system implementation gaps, along with related corrective actions. In this way, they perform an analogous function to financial audits. There are generally two different types of environmental audits: compliance audits and management systems audits.?
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Main Objective of Green Audit:
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