The Role of ESG Disclosure in Attracting Sustainable Investment in Indonesia’s Capital Market
インドネシア資本市場におけるESG開示が持続可能な投資を誘致する役割 (AI 翻訳)
Dadan Ramdhan
🤖 gxceed AI 要約
日本語
本研究は、インドネシア資本市場におけるESG開示が持続可能な投資に与える影響を質的手法で分析。規制枠組みは整備されつつあるが、コンプライアンス志向の開示、断片化、グリーンウォッシングのリスクが課題。開示の信頼性向上には基準調和、監視強化、能力構築が不可欠と結論。
English
This study qualitatively analyzes the impact of ESG disclosure on sustainable investment in Indonesia's capital market. While regulatory frameworks by OJK and IDX provide a foundation, compliance-oriented disclosure, fragmentation, and greenwashing risks hinder effectiveness. It concludes that harmonized standards, enhanced monitoring, and capacity building are critical to improving disclosure credibility.
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
インドネシアのESG開示規制（OJK、IDX）と実務のギャップを分析。日本でもSSBJ基準や有報でのESG情報開示が進む中、新興国市場の課題と教訓を提供。グリーンウォッシング対策や開示の質向上に関する示唆は、日本の投資家対応にも参考となる。
In the global GX context
This paper examines ESG disclosure challenges in an emerging market, offering insights for global frameworks like ISSB and CSRD. It highlights the gap between regulation and practice, greenwashing risks, and the need for harmonized standards—relevant for international investors and policymakers seeking to improve disclosure credibility in diverse contexts.
👥 読者別の含意
🔬研究者:Provides a qualitative case study on ESG disclosure in Indonesia, contributing to sustainable finance literature on regulatory fragmentation and greenwashing.
🏢実務担当者:Highlights practical challenges in ESG reporting for Indonesian firms, such as compliance-oriented disclosure and capacity constraints, useful for corporate sustainability teams.
🏛政策担当者:Offers recommendations for regulators to strengthen ESG disclosure through harmonized standards, monitoring, and capacity building.
📄 Abstract（原文）
Environmental, Social, and Governance (ESG) disclosure is increasingly recognized as a crucial driver of sustainable investment in capital markets, including Indonesia, where it is expected to enhance transparency, strengthen investor confidence, and direct financial resources toward companies with sustainable practices. Nonetheless, empirical realities show that many Indonesian corporations adopt a compliance-oriented approach, resulting in fragmented and inconsistent disclosures that limit the comparability and credibility of sustainability reports. This study employs a qualitative method with a library research approach, drawing on academic publications, regulatory documents, and corporate reports to analyze how ESG disclosure influences the attractiveness of sustainable investment. The findings indicate that regulatory frameworks established by the Financial Services Authority (OJK) and the Indonesia Stock Exchange (IDX) have provided an important foundation for institutionalizing ESG practices; however, implementation remains hindered by regulatory fragmentation, limited corporate capacity, and risks of greenwashing. ESG disclosure, while serving as a potential signaling mechanism for investors, has yet to fully function as a decisive factor in capital allocation due to uneven reporting quality and insufficient standardization. The study concludes that strengthening disclosure credibility through harmonized standards, enhanced monitoring, and capacity building is critical to advancing sustainable investment in Indonesia. Practically, these findings suggest that regulators, corporations, and investors must collaborate to improve the quality and reliability of ESG reporting, while academically, the study contributes to sustainable finance literature by highlighting gaps in sectoral practices, the integration of Islamic finance, and the role of technological innovations in enhancing ESG data verification.
🔗 Provenance — このレコードを発見したソース
- openaire https://doi.org/10.31004/riggs.v4i3.2484first seen 2026-05-05 19:08:14
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