Environmental Management Accounting within the ESG Indicator System of Sustainable Business Development in Kazakhstan

Abstract

The paper’s objective is to examine the role of environmental management accounting within the ESG indicator system of sustainable business development in Kazakhstan and to assess how environmental accounting practices contribute to improving corporate sustainability performance. This study employs a mixed analytical approach combining critical literature synthesis, statistical analysis, and correlation analysis based on secondary data from national environmental statistics, corporate sustainability disclosures, and ESG-related indicators. As a result of the research, several key relationships were identified, including a statistically significant correlation between environmental management expenditures and environmental performance indicators, as well as a positive association between the implementation of environmental management accounting practices and ESG environmental scores among large and medium-sized enterprises. The analysis demonstrates that organizations applying structured environmental management accounting systems tend to show lower emission intensity, higher resource efficiency, and improved transparency in non-financial reporting. The conclusion of the research is that environmental management accounting acts as a critical integrating mechanism within the ESG framework, linking environmental performance with strategic management and investment attractiveness. Moreover, the paper concludes that the effective integration of environmental management accounting into corporate governance systems is particularly relevant for Kazakhstan, where sustainable business development requires alignment between regulatory policy, corporate accountability, and ESG-driven economic transformation.