ISSN: 2225-8329
Open access
Green accounting has evolved from a niche concept into a strategic mechanism for integrating environmental considerations into business decision-making, particularly in emerging Asian economies facing rapid industrialisation and rising ecological pressures. This study conducts a systematic literature review (SLR) of 1,370 peer-reviewed articles published between 2015 and 2025 to synthesise current knowledge on green accounting adoption, measurement frameworks, and technological enablers across diverse organisational and institutional contexts. The review identifies four thematic domains: (1) the influence of green accounting on firm performance and financial outcomes, (2) organisational drivers and barriers shaping adoption, (3) the development and fragmentation of measurement and policy frameworks, and (4) the role of green innovation and digital technologies in strengthening environmental reporting. Findings reveal that green accounting enhances operational efficiency, risk management, and market valuation when embedded within broader sustainability strategies, yet adoption remains uneven due to capability gaps, inconsistent indicators, and resource constraints. Measurement systems are expanding toward multidimensional carbon and resource accounting models, but lack alignment, limiting comparability and policy integration. Technological readiness emerges as a critical enabler, with digital tools and clean technologies improving data accuracy and transparency, though benefits depend on organisational capacity and governance structures. The review concludes with recommendations for sector-wide measurement templates, staged capability-building routines, and workflow-integrated data collection to improve reliability and practical relevance. Future research should address SME adoption pathways, comparative analysis of frameworks, and the integration of low-cost digital solutions into routine operations. This synthesis provides a comprehensive foundation for advancing green accounting as a driver of sustainable business performance in Asia.
Aljawarneh, N. M., Alqmool, T. J., Abu Huson, Y. A., Jarbou, S. I., & AlQudah, M. (2025). Bibliometric analysis of accounting and corporate sustainability research: Trends and insights. ABAC Journal, 45(2), 22–41. https://doi.org/10.59865/abacj.2025.8
Astuti, T., & Ahmar, N. (2025). Effects of green intellectual capital, green accounting, and green innovation on firm value: The moderating role of return on assets. Environmental Economics, 16(1), 1–12. https://doi.org/10.21511/ee.16(1).2025.01
Bawono, I. R., Handika, R., & Surya Rahmajati, E. (2025). How do firms’ characteristics affect risks? ASEAN firms panel data analysis. Cogent Business & Management, 12(1). https://doi.org/10.1080/23311975.2024.2436646
Chen, Z., Khalilpour, K., & Yao, Q. (2024). Coordinating risk aversion and pricing strategies in green supply chains: A study of manufacturer competition. Sustainability, 16(24), 11284. https://doi.org/10.3390/su162411284
Chen, J., Zhu, Y., Wu, S., Yang, C., & Wang, H. (2025). Carbon reduction strategies for logistics based on emission prediction under multi-scenarios in coastal developed region. Carbon Balance and Management, 20(1). https://doi.org/10.1186/s13021-025-00295-3
Chin, M.-Y., Ong, S.-L., Ooi, D. B.-Y., & Chin-Hong, C.-H. (2024). The impact of green finance on environmental degradation in BRI region. Environment, Development and Sustainability, 26(1), 303–318. https://doi.org/10.1007/s10668-022-02709-5
Hamdan, S., Jouini, O., Cheaitou, A., Jemaï, Z., Andersson Granberg, T. A., & Josefsson, B. (2022). Air traffic flow management under emission policies: Analyzing the impact of sustainable aviation fuel and different carbon prices. Transportation Research Part A: Policy and Practice, 166, 14–40. https://doi.org/10.1016/j.tra.2022.09.013
Hamshari, Y. M. (2025). The impact of green accounting on reducing pharmaceutical expenditures and advancing sustainable development in the agricultural sector. Discover Sustainability, 6(1), Article 18. https://doi.org/10.1007/s43621-025-01813-6
Hasan, A. N., Pontoh, G. T., & Haji-Seseang, R. (2025). The effect of green concepts on firm performance mediated by sustainable development. International Journal of Sustainable Development and Planning, 20(3), 1233–1241. https://doi.org/10.18280/ijsdp.200328
He, Z., & Liu, Q. (2023). The crossover cooperation mode and mechanism of green innovation between manufacturing and internet enterprises in digital economy. Sustainability, 15(5), 4156. https://doi.org/10.3390/su15054156
Hsieh, C.-L., Tsai, W.-H., & Chang, Y.-C. (2020). Green activity-based costing production decision model for recycled paper. Energies, 13(10), 2413. https://doi.org/10.3390/en13102413
Iskandar, U., Setiawati, L., Diyanti, F., & Sari, D. M. (2021). Student’s literacy on green accounting concept and its challenges ahead. Journal of Educational and Social Research, 11(6), 269–276. https://doi.org/10.36941/jesr-2021-0146
Kumalawati, L., Sudarma, M., Rahman, A. F., & Iqbal, S. (2023). Implementation of environmental management accounting and energy efficiency for green economy achievements in the textile industry in Indonesia. International Journal of Energy Economics and Policy, 13(2), 149–156. https://doi.org/10.32479/ijeep.13950
Li, S. (2024). Construction of China’s carbon financial accounting system from the perspective of sustainable development; Budowa chi?skiego systemu rachunkowo?ci w?glowej z perspektywy zrównowa?onego rozwoju. Problemy Ekorozwoju, 19(1), 213–220. https://doi.org/10.35784/preko.5758
Liang, J., & Qiao, C. (2024). The impact of digital trade development on regional green innovation. Sustainability, 16(22), 10090. https://doi.org/10.3390/su162210090
Liang, L., Xu, Y., Liu, B., Liu, C., Xu, Y., & Luther, M. (2024). Network structure analysis based on embodied energy of the Australian economy. Journal of Cleaner Production, 479, Article 144088. https://doi.org/10.1016/j.jclepro.2024.144088
Lisnawati, L., Aryati, T., & Gunawan, J. (2024). Implementation of digital innovation on sustainability performance: The moderating role of green accounting in the industrial sector. Eastern-European Journal of Enterprise Technologies, 1(13(127)), 59–68. https://doi.org/10.15587/1729-4061.2024.298639
Liu, W., Liu, M., Liu, T., Li, Y., & Hao, Y. (2022). Does a recycling carbon tax with technological progress in clean electricity drive the green economy? International Journal of Environmental Research and Public Health, 19(3), Article 1708. https://doi.org/10.3390/ijerph19031708
Lutfi, A., Alqudah, H., Alrawad, M., Alshira’h, A. F., Alshirah, M. H., Almaiah, M. A., AlSyouf, A., & Hassan, M. F. (2023). Green environmental management system to support environmental performance: What factors influence SMEs to adopt green innovations? Sustainability, 15(13), 10645. https://doi.org/10.3390/su151310645
Maswadeh, S., & Alhusban, E. H. (2024). The modified effect of using environmental technology on green accounting to enhance the effect on sustainable development. International Journal of Sustainable Development and Planning, 19(11), 4413–4420. https://doi.org/10.18280/ijsdp.191128
Nguyen, T. M. P., Ha, H. H., & Tran, M. D. (2023). Determinants influencing the application of green accounting: The case of emerging market constructions firms. Corporate Governance and Organizational Behavior Review, 7(2, Special Issue), 282–292. https://doi.org/10.22495/cgobrv7i2sip7
Rasyid, S., Azis, N. A., & Rahmat, A. (2025). Green accounting for medium-sized enterprises: A review of participatory action research towards a sustainable future. International Journal of Economics and Financial Issues, 15(1), 84–92. https://doi.org/10.32479/ijefi.17331
Razak, F. N. A., Ramli, A., & Abdul Rasit, Z. A. (2020). Organisation isomorphism as determinants of environmental management accounting practices in Malaysian public listed companies. Humanities and Social Sciences Letters, 8(1), 110–122. https://doi.org/10.18488/journal.73.2020.81.110.122
Riyadh, H. A., Al-Shmam, M. A., Huang, H. H., Gunawan, B., & Alfaiza, S. A. (2020). The analysis of green accounting cost impact on corporations’ financial performance. International Journal of Energy Economics and Policy, 10(6), 421–426. https://doi.org/10.32479/ijeep.9238
Rumambi, H. D., Willar, D., Ramschie, A. A. S., Senduk, N., & Tulung, F. J. (2023). Construction waste management in the green accounting perspective: A study on construction companies in Indonesia. Management and Accounting Review, 22(3), 145–172. https://doi.org/10.24191/mar.v22i03-06
Sabihaini, U., Kurniawan, A., Prasetio, J., & Rusdiyanto, R. (2024). Environmental analysis and impact on green business strategy and performance in SMEs post the COVID-19 pandemic. Cogent Economics & Finance, 12(1). https://doi.org/10.1080/23322039.2024.2330428
Sardana, K., & Simpson, R. D. (2023). Mainstreaming biodiversity into policy–Do the numbers add up? Environmental and Sustainability Indicators, 20, 100314. https://doi.org/10.1016/j.indic.2023.100314
Shang, S. (2021). Evaluation of ecological environmental pollution in green building construction. Nature Environment and Pollution Technology, 20(3), 1331–1337. https://doi.org/10.46488/NEPT.2021.V20I03.046
Shen, Y., & Yang, H. (2023). Multi-objective optimization of integrated solar-driven CO? capture system for an industrial building. Sustainability, 15(1), 526. https://doi.org/10.3390/su15010526
Sholehah, N. L. H., Ishak, P., & Utiarahman, S. A. (2024). Pentahelix model in the prevention of environmental accounting fraud in the 3T region. Global Business and Finance Review, 29(11), 88–100. https://doi.org/10.17549/gbfr.2024.29.11.88
Sun, F., Jia, Z., Shen, J., Xu, C., Huang, X., Shang, Z., Li, S., & Zhang, S. (2024). Research on the accounting and spatial effects of emergy ecological footprint and industrial green GDP–The case of Yangtze River Economic Belt. Ecological Indicators, 163, 112055. https://doi.org/10.1016/j.ecolind.2024.112055
Tian, X., Zhang, Y., & Qu, G. (2022). The impact of digital economy on the efficiency of green financial investment in China’s provinces. International Journal of Environmental Research and Public Health, 19(14), 8884. https://doi.org/10.3390/ijerph19148884
Tu, J.-C., & Huang, H.-S. (2015). Analysis on the relationship between green accounting and green design for enterprises. Sustainability, 7(5), 6264–6277. https://doi.org/10.3390/su7056264
Ulupui, I. G. K. A., Murdayanti, Y., Marini, A. C., Purwohedi, U., Mardi, U., & Yanto, H. (2020). Green accounting, material flow cost accounting and environmental performance. Accounting, 6(5), 743–752. https://doi.org/10.5267/j.ac.2020.6.009
Wang, X., Zheng, H., Wang, Z., Shan, Y., Meng, J., Liang, X., Feng, K., & Guan, D. (2019). Kazakhstan's CO? emissions in the post-Kyoto Protocol era: Production- and consumption-based analysis. Journal of Environmental Management, 249, 109393. https://doi.org/10.1016/j.jenvman.2019.109393
Wichitsathian, S., & Ekkaphol, S. (2025). The mediating role of sustainable competitive advantage: A comparative study of disaggregated vs. holistic models in green hotels. Sustainability, 17(19), 8954. https://doi.org/10.3390/su17198954
Xia, Y., Hou, J., Huang, H., Liu, D., & Ding, H. (2023). Exploring the impact of firm transparency on green innovation legitimacy: Empirical evidence from listed companies in China. Sustainability, 15(13), 10104. https://doi.org/10.3390/su151310104
Yan, H.-S., Tan, X.-C., Zeng, A., & Kong, L.-S. (2023). China’s carbon accounting system in the context of carbon neutrality: Current situation, challenges and suggestions. Advances in Climate Change Research, 14(1), 23–31. https://doi.org/10.1016/j.accre.2023.01.008
Yang, X., & Zhong, S. (2023). The combined effect of environmental policies on China’s renewable energy development: A multi-perspective study based on semiparametric regression model. International Journal of Environmental Research and Public Health, 20(1), 184. https://doi.org/10.3390/ijerph20010184
Yuan, M., Mai, J., Liu, X., Shen, H., & Wang, J. (2023). Current implementation and development countermeasures of green energy in China’s highway transportation. Sustainability, 15(4), 3024. https://doi.org/10.3390/su15043024
Zainal, A., Rahman, H., Putra, P. D., Harahap, K., & Thohiri, R. (2025). Firm performance perspective from the implications of environmental conservation. Management and Production Engineering Review, 16(1). https://doi.org/10.24425/mper.2025.153924
Zhang, Y., Lin, W., Ren, E., & Yu, Y. (2024). Evaluation of spatial distribution of carbon emissions from land use and environmental parameters: A case study in the Yangtze River Delta demonstration zone. Ecological Indicators, 158, Article 111496. https://doi.org/10.1016/j.ecolind.2023.111496
Zhen, T., & Rahman, M. M. (2024). Greening emerging economies: Enhancing environmental, social, and governance performance through environmental management accounting and green financing. Sustainability, 16(11), 4753. https://doi.org/10.3390/su16114753
Sritharan, N., Ing, S. S., & Sian, K. V. J. (2025). Advancing Green Accounting in Emerging Asian Economies: A Systematic Literature Review of Drivers, Frameworks, and Technological Enablers (2015–2025). International Journal of Academic Research in Accounting, Finance and Management Sciences, 15(4), 246–270.
Copyright: © 2025 The Author(s)
Published by HRMARS (www.hrmars.com)
This article is published under the Creative Commons Attribution (CC BY 4.0) license. Anyone may reproduce, distribute, translate and create derivative works of this article (for both commercial and non-commercial purposes), subject to full attribution to the original publication and authors. The full terms of this license may be seen at: http://creativecommons.org/licences/by/4.0/legalcode