This chapter investigates the relationship between environmental governance (such as sustainability assurance, sustainability committee, emission mitigation target horizon, and GRI guidelines adoption) and corporate environmental performance. Further, it ascertains the mediating role of environmental management accounting (EMA) on the association between environmental governance and environmental performance nexus. In order to meet that objective, we tested our hypotheses based on a sample of 70 publicly listed firms included on the FTSE-MIB and FTSE Italia Mid Cap indexes in light of the Italian Legislative Decree 254/2016 implementation. Furthermore, we constructed a five-year panel dataset that has been mainly collected from the Thomson Reuters platform, covering a five-year period (2017–2021), as this period has witnessed unprecedented challenges to the global economy. Our empirical evidence shows a positive and significant association between environmental governance and corporate environmental performance. Further, this study finds that the use of EMA positively moderates environmental governance and corporate environmental performance relationships. This evidence aligns with the predictions of the natural resource-based view and stakeholders’ theories. The results attest to the potential role of EMA as it can be the cornerstone to demonstrating accountability and oversight to the stakeholders in improving the underlying environmental governance and performance. This study’s conclusions have significant ramifications for academics, regulators, policy-makers, and business practitioners. Finally, the results support insights drawn from the natural resource-based view and stakeholder theories.