Blue Economy and Financial Transparency: An Accounting Perspective
Keywords:
Blue economy, Environmental accounting, Financial transparency, SEEA, Sustainability IFRSAbstract
The blue economy concept has become a strategic approach in promoting sustainable economic growth through the utilization of marine resources. However, traditional accounting practices have not been able to fully represent the ecological value and long-term risks of ocean-based economic activities. This research aims to assess the limitations of conventional accounting systems and examine the importance of integrating the System of Environmental-Economic Accounting (SEEA) framework and IFRS Sustainability Disclosure Standards in supporting the financial transparency of the blue economy sector. Using a descriptive qualitative method through literature review, this study found that strengthening regulations, disclosure of environmental risks, and the strategic role of accountants are essential in building an accountable financial reporting system that supports sustainability goals. The results recommend updating the accounting framework and actively engaging stakeholders to promote accountability in the marine and fisheries sector in a sustainable manner.
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