Model for Organizing a Smart Environmental Accounting and Reporting System for Green Business Using the Internet of Things and Artificial Intelligence in Russia and Central Asia

Abstract

This research aims to assess the potential for refining the organization of smart environmental accounting and reporting for green businesses using the Internet of Things (IoT) and Artificial Intelligence (AI) in Russia and Central Asia. Drawing on international experience from 2019 to 2022, the authors apply regression analysis to determine the level of engagement of business entities and unveil technical intricacies in developing the green economy in Russia and Central Asian countries. Based on the research findings, the primary authorial conclusion highlights that while IoT and AI technologies significantly contribute in Russia and Central Asia, they are scarcely utilized in corporate environmental accounting and reporting for green businesses. To fully unlock the potential of these technologies in supporting the development of the green economy in Russia and Central Asia, the authors formulated a model for organizing smart environmental accounting and reporting with IoT and AI. The theoretical significance of these findings lies in the refined understanding of IoT and AI technology applications in the green economy of Russia and Central Asia. On a practical note, the developed organizational model is poised to enhance the practice of smart environmental accounting and reporting for green businesses using IoT and AI in Russia and Central Asia.