Carbon Accounting Practices and Financial Sustainability of Oil Producing Companies in Nigeria

Purpose: Examine the effect of carbon accounting practices (scope of emissions, emission sources, emission categories, and reporting boundaries) on financial sustainability of oil-producing companies in Nigeria. Methodology: Survey design, population of 100 staff drawn from five oil-producing companies, census sampling, structured questionnaire, multiple regression analysis. Results: Scope of emissions (β=.129, p=.011), emission sources (β=.290, p=.000), emission categories (β=.144, p=.001), and reporting boundaries (β=.244, p=.000) positively and significantly influenced financial sustainability. Conclusion: Carbon accounting practices significantly enhance financial sustainability of oil-producing companies. Implications: Oil companies should strengthen carbon accounting systems to improve sustainability and stakeholder confidence.