Global Journal of Management and Business Research, D: Accounting and Auditing, Volume 21 Issue 2

50% disclosures. It was however discovered that there are parts of the period that showed that their environmental disclosure level was zero 0, which imply that there were no disclosures at all during this period. In figure 2, the graph shows the trends of environmental disclosures by the consumer goods sector of Nigeria Exchange Group. The trend showed that the sector never had any time within the scope of this study where they had full disclosure of their environmental activities. The result also showed that there was a period which had zero percent which implies non-disclosure. In the case of the oil and gas sector as shown in figure 3, the trends of environmental disclosure in the sectors how that the highest disclosures of these sectors 13 percent and the rest which is the larger part constitute non-disclosures. An appraisal of the trend analysis indicates that none of the multinational companies have full disclosure of environmental disclosure according to the laid down environmental disclosure index. The implication of this is that the multinational companies despite their affiliations with companies that are situated in countries where sustainability reporting is mandatory, still indulge in non- disclosure. The individual evaluation showed that from the three sectors, the oil and gas sector had the least level of compliance with environmental disclosure as disclosed in the index. This is confirmed by the increased rate of environmental degradation, oil spillage and other negative externalities that ravage the ecological system of their host communities. It can therefore be implied that multinational companies in Nigeria are not fully compliant with disclosing their environmental activities following global best practices. The implication of these findings going by policy, is that multinational companies in Nigeria, despite their affiliation with the international community and the developed countries are not making an effort to comply with environmental accounting disclosure. They are majorly leveraging on the loophole in the financial regulations. This assertion is also confirmed in the sectoral assessment done in this study which revealed that the multinational companies’ level of compliance with environmental accounting disclosure requirements is below the benchmark. Source: Researcher’s Computation, 2021 Figure 1: Industrial Goods Sector 0 0.2 0.4 0.6 0.8 1 1.2 INDUSTRIAL GOODS INDUSTRIAL GOODS INDUSTRIAL GOODS INDUSTRIAL GOODS INDUSTRIAL GOODS INDUSTRIAL GOODS INDUSTRIAL GOODS INDUSTRIAL GOODS INDUSTRIAL GOODS INDUSTRIAL GOODS INDUSTRIAL GOODS INDUSTRIAL GOODS INDUSTRIAL GOODS INDUSTRIAL GOODS INDUSTRIAL GOODS INDUSTRIAL GOODS INDUSTRIAL GOODS INDUSTRIAL GOODS INDUSTRIAL GOODS INDUSTRIAL GOODS INDUSTRIAL GOODS INDUSTRIAL GOODS INDUSTRIAL GOODS INDUSTRIAL GOODS INDUSTRIAL GOODS INDUSTRIAL GOODS INDUSTRIAL GOODS INDUSTRIAL GOODS INDUSTRIAL GOODS INDUSTRIAL GOODS INDUSTRIAL GOODS INDUSTRIAL GOODS INDUSTRIAL GOODS INDUSTRIAL GOODS EDIndex 23 Global Journal of Management and Business Research Volume XXI Issue II Version I Year 2021 ( ) D © 2021 Global Journals Environmental Accounting Disclosure and Financial Performance of Listed Multinational Firms in Nigeria