非金融セクターにおけるESG開示とサステナビリティ・リスク・ガバナンス：規制の視点と政策優先順位付け
ESG Disclosure and Sustainability Risk Governance in the Non-Financial Sector: Regulatory Perspectives and Policy Prioritisation (原題)
Galuh Tri Pambekti
🤖 gxceed AI 要約
日本語
インドネシア非金融セクターのESG開示がサステナビリティ・リスク・ガバナンスの手段として機能しているかを、OJK高官とのFGDとAHPで分析。開示は依然として記述的・断片的で、気候関連リスクが監督評価に十分組み込まれていないことを示す。政策優先順位としてESGリスクのリスクベース監督への統合、ISSB/TCFD整合の標準化、独立保証の義務化、能力構築を特定した。
English
This study assesses whether ESG disclosure in Indonesia's non-financial sector effectively governs sustainability risk, using document analysis, FGDs with OJK officials, and AHP. It finds disclosures remain narrative, fragmented, and weakly integrated into enterprise risk management, with climate risks insufficiently reflected in supervision. AHP prioritises integrating ESG risks into risk-based supervision, ISSB/TCFD-aligned standardisation, mandatory assurance, and capacity building.
Unofficial AI-generated summary based on the public title and abstract. Not an official translation.
📝 gxceed 編集解説 — Why this matters
日本のGX文脈において
日本ではSSBJ基準の確定と有報開示の拡充が進む中、開示の「形式化」を避けリスク監督に実装する方策は、金融庁・SSBJ関係者にとって示唆に富む。新興国監督当局の優先順位付けは、日本企業の海外拠点・サプライチェーン開示対応にも関連する。
In the global GX context
As ISSB standards are adopted globally, this paper offers a supervisory perspective on moving ESG disclosure from compliance to risk governance, directly relevant to TCFD/ISSB implementation and greenwashing mitigation in emerging markets. It adds empirical evidence on how regulators prioritise assurance and capacity building alongside standardisation.
👥 読者別の含意
🔬研究者:Provides a replicable AHP-based policy prioritisation method for assessing disclosure effectiveness in emerging markets.
🏢実務担当者:Highlights that narrative ESG reporting is insufficient; companies should embed climate risks into ERM and prepare for ISSB-aligned assurance.
🏛政策担当者:Offers a prioritised roadmap for integrating ESG risks into risk-based supervision, including ISSB/TCFD alignment and mandatory assurance.
📄 Abstract（原文）
Purpose: This study examines whether Environmental, Social, and Governance (ESG) disclosure in Indonesia’s non-financial sector functions as an effective instrument for sustainability risk governance or remains largely a compliance-oriented reporting practice. Methodology: A qualitative policy research design is employed, integrating document analysis, policy-oriented Focus Group Discussions (FGDs) with senior officials from the Otoritas Jasa Keuangan, and the Analytic Hierarchy Process (AHP). Regulatory frameworks, corporate sustainability reports, and global ESG standards are analysed to assess the extent of risk integration, while FGD insights are prioritised using AHP to identify key policy interventions. Findings: Findings indicate a persistent gap between the growing volume of ESG disclosure and its limited functionality as a sustainability risk governance tool. Disclosures remain largely narrative, fragmented, and weakly embedded within enterprise risk management systems. Critical sustainability risks, including climate-related physical and transition risks, social conflicts, and governance failures, are insufficiently incorporated into supervisory assessments. AHP results identify the integration of ESG risks into risk-based supervision as the highest policy priority, followed by standardisation aligned with International Sustainability Standards Board (ISSB) and Task Force on Climate-Related Financial Disclosures (TCFD) frameworks, mandatory independent assurance, and capacity-building initiatives. Novelty: A reconceptualisation of ESG disclosure is proposed, positioning it as a core instrument of risk governance within a risk-based supervisory architecture to strengthen early warning systems, mitigate greenwashing, and reinforce financial stability in emerging markets.
🔗 Provenance — このレコードを発見したソース
- semanticscholar https://ejournal.uin-suka.ac.id/febi/JAI/article/download/3087/1529first seen 2026-11-05 05:38:41 · last seen 2026-11-06 05:14:10
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