Abstract
The integration of sustainable development practices including environmental management accounting, environmental performance assessment, social equity, economic efficiency and corporate social performance into the daily management portfolios of business has acted as the catalyst towards the socio-economic performance of businesses. This paper explored the effects of environmental sustainability practices on socio-economic performance of manufacturing companies in urban Ghana. The study involved six manufacturing companies. Using the cross-sectional design with a two-stage sampling technique, 600 respondents were selected from the 6 companies. The hypothetical model was tested using regression analysis, to verify the hypothetical relationships between variables in the study. A 2-tailed test involving Pearson product-moment correlation coefficient was run to ascertain the relationship between ESPs and economic performance of MCs. The results of the study from the model Summary showed R Square of 0.813 indicating that about 81% of the socio-economic performance of manufacturing companies is accounted for by environmental sustainability practices (ESPs). There is a significant negative profit margins in the operational activities of companies (-0.550) at 0.01 due to ESPs in the company. It is concluded that environmental sustainability practices relate to socio-economic performance of manufacturing companies. Keywords: Environmental sustainability practices, environmental accountability, corporate sustainability performance, environmental citizenship, environmental injustice, manufacturing companies, Ghana DOI : 10.7176/EJBM/11-15-09 Publication date :May 31 st 2019
Highlights
The environments of modern manufacturing companies have proved to be less secure with difficult and complex operations (Andrew et al, 2016)
Others are of www.iiste.org the view that environmental sustainability practices (ESPs) of companies enhance their public relations leading to reduction in the cost of production (Landrum and Edwards, 2009)
The current study provides an insight into the nature of socio-economic performance of manufacturing companies in the Ashanti region of Ghana
Summary
The environments of modern manufacturing companies have proved to be less secure with difficult and complex operations (Andrew et al, 2016) As a result, their competitiveness has been enormous in relation to the crosscutting demands consumers expect from them (Paiva et al, 2012). There are global calls in most international fora on the need for companies to operate with universal guidelines on the adoption of environmental practices (Sarfo-Mensah and Oduro, 2007; Nawrocka and Parker, 2009; Montobbio et al, 2010). These regulatory principles help to ensure both internal and external sanity in operations and corporate sustainability (Hörisch et al, 2014). A number of long-term challenges including scarcity of raw materials, desertification, climate change and pollution (Montalvo et al, 2006) necessitated this arrangement
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