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The Effect of Greenhouse Gases (GHG) Emission Intensity Reduction and ESG Disclosure on Financial Performance in Energy & Basic Material Sector Companies at Period 2020 - 2023

温室効果ガス（GHG）排出強度削減とESG開示がエネルギー・基礎素材セクター企業の財務パフォーマンスに与える影響（2020-2023年） (AI 翻訳)

Devinta Aulia Damayanti, Ulil Hartono

Indonesian Journal of Banking and Financial Technologyプレプリント2025-07-31#ESG
DOI: 10.55927/fintech.v3i3.100
原典: https://doi.org/10.55927/fintech.v3i3.100

🤖 gxceed AI 要約

日本語

インドネシア上場企業21社を対象に、GHG排出削減とESG開示がROAに与える影響を分析。GHG削減と環境開示は有意な効果を示さなかったが、社会・ガバナンス・総合ESG開示は財務パフォーマンスに正の影響を与えることを発見。包括的なESG報告がステークホルダーの信頼向上に寄与することを示唆。

English

This study analyzes 21 Indonesian listed companies (2020-2023) to examine the impact of GHG emission intensity reduction and ESG disclosure on financial performance (ROA). Results show that GHG reduction and environmental disclosure have no significant effect, while social, governance, and overall ESG disclosure positively influence financial performance. The findings suggest that comprehensive ESG reporting enhances stakeholder trust and legitimacy.

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

インドネシアの新興国データではあるが、SSBJや有報でのESG開示が進む日本企業にとっても、社会・ガバナンス開示の財務効果が環境開示より顕著である点は示唆に富む。ただし、サンプルが限定的であり、日本市場への直接適用には注意が必要。

In the global GX context

While focused on Indonesia, this paper contributes to the global debate on ESG materiality by showing that social and governance disclosures have stronger financial impacts than environmental disclosure in high-emission sectors. It supports the ISSB's integrated approach to ESG reporting and highlights the importance of comprehensive disclosure for stakeholder trust.

👥 読者別の含意

🔬研究者:Provides empirical evidence from an emerging market on the differential financial impacts of ESG components, useful for comparative studies.

🏢実務担当者:Suggests prioritizing social and governance disclosures alongside environmental ones to enhance financial performance.

🏛政策担当者:Indicates that mandating comprehensive ESG disclosure may yield financial benefits, especially in high-emission sectors.

📄 Abstract（原文）

As climate concerns grow, companies—especially in high-emission sectors such as energy and basic materials—face pressure to adopt sustainability practices. This study examines how reducing GHG emission intensity, ESG individual and overall disclosure impact financial performance measured by Return on Asset. Panel data regression analysis have conducted using STATA 17 software to analyse 21 Indonesian-listed companies in year 2020 - 2023. Testing reveals that GHG reduction and environmental disclosure have no significant effect on financial performance while social, governance, and overall ESG disclosure positively influence it. The results suggest that comprehensive ESG reporting enhances stakeholder trust and legitimate. Companies are advised to prioritize robust social and governance disclosures, as these ESG components demonstrate a stronger positive impact on financial performance.

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