Nowadays, the society particularly from the developed nations is highly concern about the impacts on the quality of their life due to the pollution of air, land and water. However, the same concern is rather slow in developing countries including Nigeria. Environmental accounting enhances the quality of decision making, requiring organizations to establish a baseline (standard) of its greenhouse gas emissions, energy usage, resource usage and other key environmental indicators, and set reductions targets and production patterns alongside protecting and managing Nigerian natural resources. Lately, the relationship between the companies and the environment is receiving increasing attention. Presently, debate on global climatic change and biodiversity is becoming more common place in corporate world, together with concern over water, air and soil pollution. Although the sustainability of economical development is a shared responsibility amongst organizations, government, consumers and communities. However, organizations can play vital role in slowing down the environmental degradation. Unsustainable consumption of natural resources, increased contribution to Green house gas emissions (GHG), contribution to ozone layer depletion amongst others are prevalent in Nigeria and serve as impediments to favourable business climate and human inhabitation in general. Multinational companies can contribute towards, sustainable environment by innovating and improving their products and processes in order to use raw materials more efficiently reduce the waste generated from their processes, improve the waste disposal methods and improve the work conditions. Stakeholders obviously require companies to manufacture goods efficiently and at competitive prices without degrading the environment. This can lead to an improvement in overall environmental performance, company performance, company performance, customers and communities satisfaction.