The study explored Nigerian petroleum corporations environmental accounting procedures and cost of capital between 2013 and 2022. To mitigate the impact of the independent factors on the dependent variable, the research employed firm size as a control variable. The research sampled five (5) oil and gas businesses and used ordinary least squares to analyse the data. The study revealed that the equity-weighted cost of capital does not have an important impact on the sustainability reporting practices of quoted petroleum firms in Nigeria. However, the dividend yield, cost of debt, and cost of capital were found to have a favourable and substantial association with environmental reporting practices. According to the studys findings, a business that used environmental reporting techniques paid less for loan capital and dividend yield. Consequently, it suggests that environmental accounting information disclosure is essential for business and enhances firms cost of capital and brand.