This project focuses on environmental degradation and the need for corporate organization to fulfill their social responsibilities. Using the system theory, the interdependence among the environment, organization and sustainable development was examined. The system theory was modified t emphasize the need for corporate firms to forsee potential environmental consequences of a given activity, process or product from the planning stage with a view to ensuring the implementation of adequate and timely response strategies. Some prevalent environmental problems in Nigeria were also examined. Environmental audit was discussed to enable organizations assess the impact of their activities on the environment.
CHAPTER ONE: Introduction
1.1        Statement of problem
1.2        The objectives of the study
1.3        Research Hypothesis
1.4        Scope of the study
1.5        Significance of the study
1.6        Limitation of the study
1.7        Definition of terms
Literature Review
3.1        Methodology
3.2        Research Design
3.3        Population of study
3.4        Sampling technique
3.5        Instrument for data collection
3.6        Method of data analysis
3.7        Validity of research instrument
Data Presentation and Analysis
Test of hypothesis
CHAPTER FIVE: Summary, Findings, Recommendations and Conclusion
5.1        Summary  
5.2        Findings
5.3        Conclusion
5.4        Recommendations
As a result of the quest of industrialization and sustainable development in Nigeria and the attendant improvement in the quality of life of the populace has taken its toll on the environment (Aina, 1998).
There is widespread interest in the way in which companies conduct themselves, including the environmental and social impact of their activities. Companies and those who govern their affairs do not operate in a value-free zone and their activities are and should be open to evaluation and criticism. CAMAC’s report on the social responsibility of corporations, is aimed at providing a pathway through the mass of material and opinions on the subject as well as respond to questions raised in the terms of reference from the government.
While largely focused on the conduct of business corporations, the report notes that issues of social responsibility also arise for other entities, including public sector, non-profit and unincorporated bodies. Companies operate in a shifting market place of legal requirements, consumer preferences, employee views, investor sentiments, community attitude and other pressures where social and environmental issues arises in relation to a companies business, they need to be managed, as do other issues that may infringe on business success or failure.
According to COMAC’s (Richard St. John), …….. Companies should be judged on the way they conduct themselves in the context of pursuing their business aims and their overall economic and other contribution and impacts. This includes the way they deal with environmental or social issues that relate to their business. They should not be expected to direct their efforts to social ends regardless of the relevance of those ends to their own business. Therefore the report suggests that a company will be socially responsible if it operates in an open and accountable manner, uses its resources for productive ends, complies with relevant regulatory requirement and acknowledges and takes responsibility for the consequences of its action.
The effect of different industrial sector activity on the environment vary enormously but its an incontrorotible statement that damage is being done to the environment world-wide.  
Environmental concerns rarely terms an integral part of development plans, particularly in Third World Countries like Nigeria. The realization that sustainable development can only be achieved through an interdependence between economic growth and environmental quality has compelled some governments to now regard the environment as a valued and an integral part of economic growth. Subsequently, environmental problems are now at the forefront of international and domestic as well as local government’s agenda.
However, environmental policies are rarely enforced in some Third World Countries. The inability of government to implement a stringent environmental regulation is compounded by the fact that the goal of most corporate organizations are purely economic. The attention is devoted to their social responsibilities.
The environment is being endangered because economic policy stresses increase in production, but neglects to account for the depletion of natural resources and damage to the environment. The continued damage to the tangible natural environment and health of the exploitation of crude oil and natural gas.
These activities have led to numerous spillages, gas flaring, pollution, flooding, coastal erosion, earth tremors, etc. all of which constitute a threat to the people survival. The result has been a rapid decline in the quality of life of the people, many of them forced out of their traditional occupation of farming, fishing and the production of palm oil and kernels. There is need for organizations and government to reorganize “defensive expenditure” to protect or restore the environment and “user cost” for the depletion and the degradation of natural resources as part of their production cost.
Companies should be committed to minimizing the impact of its operations on the environment and they should have programs updated annually that will help bring about measurable development.
The first attempt of this work will be to discuss the interdependence among the environment, organization and sustainable development, nature of some environmental degradation in Nigeria, corporate social responsibility, environmental audit and corporate environmental management strategies.
The problems that this study intends to address are as follows:
i.)           What are legal or standards available with regards to accounting for the use of resources from the environment.
ii.)         What programs are in place to reverse the degradation that has occurred and how they are funded.
iii.)        To examine environmental issue as it relates to companies or firms and corporate users as it relates to the environment.
iv.)       What are the effects of companies on the host environment.
The increase in agitation for more compensation and participation in companies operation by host communities is as a result of neglect of developmental program for the communities in their area of operations.
The objective of this study, is simply to find out the effects of companies operations on their host communities or environment, the extent to which they account for the resources they are exploring from the environment and the programs they have in place to tackle the environmental and socio-economic problems of the region of their operations for development that is environmentally sustainable.
The objectives of this research is to;
i.)           To ascertain the policies put in place by organizations for the development of the environment.
ii.)         Examine the extent to which firms or organizations are aware of these policies and the effect of these policies on corporate performance.
iii.)        To measure the social responsibility of corporate bodies.
 Hypothesis I
Ho:    There are no fully funded programmes put in place to reverse the degradation that has occurred in the country (environment).
H1: There are fully funded programmes put in place to reverse the degradation that has occurred in the country (environment).
   Hypothesis II
Ho:    There are no legal implications or standards available with regards to accounting for the use of resources from the environment.
H1: There are legal implications or standards available with regards to accounting for the use of resources from the environment.
 Hypothesis III
Ho:    The host communities do not know their right as regards to companies operating in the environment.
H1: The host communities know their right as regards to companies operating in the environment.
The area of focus of this study will be restricted to the Nigerian Petroleum Development Company (NPDC) limited and its area of operations. The study will focus on the effect of companies operations on the environment, the depletion and degradation of natural resources ad the responsibilities of companies in restoring the environment from the side effects of its operations and the provision of developmental projects for the host communities and the society at large.
The three trends related to globalization are during the rise of “Corporate Social Responsibility”, the rising protest movement against economic globalization, the “war on terrorism” that began on September 11 and recent corporate scandals.
The issue of corporate social responsibility is a complex one for any industry, and environmental accounting is a new concept in accounting. This companies have failed to recognize the effects of production and consumption activities on the environment as part of their cost of production. As a result of this form of accounting for the use of resources, the conventional accounting method has led to companies preventing misleading financial statements.
The recent development of community clashes with companies operating in their host communities is as a result of the non recognition of their negative side effects of their operations on the environment and the need for sustainable development of the host community and the society at large. Industrialist believe that a systematic integration of corporate social responsibility into their business practices can make a positive impact on their economic, social, environmental performance.
There is need for adequate procedure for evaluation and recognition of environment effects in the determination of the company cost of operations. This study will therefore provide some enlightenment to companies of the need to have a proper procedure for evaluation and recognition of environment effects for sustainable development of the environment and for sustainable performance of the company.


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