Disclosure of Greenhouse Gas costs and Green Tourism: Evidence from the Iraqi Tourism Industry

Abstract

One of the most prominent issues that occupy the world today with regard to the challenges and risks involved is research interest in the areas of disclosure of the cost of greenhouse gases. Its consequences extend to future generations in economic, environmental and social terms. With the increasing demand of stakeholders and their awareness of the importance of companies disclosing their financial reports on the strategic effects of their business on the climate, companies ought to find ways to disclose by responding to the requirements of global disclosure in international markets. However, what companies face in the Iraqi environment and with increasing greenhouse gas emissions (global warming) are challenges, most notably the weak disclosure in their annual reports and the absence of mandatory or voluntary instructions in the financial market as instructions No. (8) for the year (2011). The research aims to prepare a proposed index for the Iraqi financial market based on international treaties and protocols concerned with the disclosure of greenhouse gases through 31 paragraphs, knowing that it is possible to add any sections to these paragraphs and according to the activity of each company. The index was tested on a sample of the tourism companies listed on the Iraq Stock Exchange. The results show that there are initial initiatives to disclose greenhouse gases in the sample, even if relatively weakly.

Keywords

• greenhouse gas emissions
• iraq stock exchange
• greenhouse disclosure index
• green tourism