The Effect of Green Investment and Carbon Emission Disclosure on Financial Reporting Quality in Energy Sector Companies Listed on the IDX (2021–2023)
DOI:
https://doi.org/10.55606/ijemr.v5i1.598Keywords:
Green Investment, Carbon Emission Disclosure, Financial Reporting Quality, Energy Sector, Sustainability ReportingAbstract
This study investigates the effect of green investment and carbon emission disclosure on the quality of financial reporting among energy sector companies listed on the Indonesia Stock Exchange (IDX) during the 2021–2023 period. The research uses a quantitative approach and secondary data, with an exploratory design aimed at examining causal relationships between the independent variables and financial report quality. Green investment refers to the allocation of capital toward environmentally sustainable initiatives, while carbon emission disclosure involves the transparency of companies in reporting their greenhouse gas emissions. Financial report quality is measured through accrual quality and earnings persistence.Statistical analysis was conducted using panel data regression. The results indicate that neither green investment nor carbon emission disclosure has a statistically significant influence on the quality of financial reports. The significance values obtained were 0.525 for green investment and 0.069 for carbon emission disclosure, both above the 0.05 threshold. These findings suggest that while environmental responsibility practices are increasing in visibility, they have not yet translated into improvements in financial reporting quality in the energy sector. External pressures or compliance motives may drive environmental disclosures, rather than a commitment to improving transparency or financial integrity.The study highlights the necessity for further investigation into the mechanisms by which sustainability practices can enhance financial reporting. It also suggests that regulatory enforcement alone may not be sufficient to influence reporting behavior in the short term.
Keywords: green investment, carbon emission disclosure, financial reporting quality, energy sector, sustainability reporting
References
Agatha, H. T., & Aryati, T. (2024). Pengaruh Pengungkapan Emisi Karbon, Green Investment dan Tata Kelola Perusahaan Terhadap Nilai Perusahaan. Innovative: Journal Of Social Science Research, 4(4), 16288–16308.
Ahdiat Adi. (2024, June 27). Ini Industri Penyumbang Emisi Gas Rumah Kaca Terbesar di Indonesia. Databoks.
Ahmaddien, I. (2020). EVIEWS 9: Analisis Regresi Data Panel.
Akhter, F., Hossain, M. R., Elrehail, H., Rehman, S. U., & Almansour, B. (2023). Environmental disclosures and corporate attributes, from the lens of legitimacy theory: a longitudinal analysis on a developing country. European Journal of Management and Business Economics, 32(3), 342–369. https://doi.org/10.1108/EJMBE-01-2021-0008
Ardelia, E. (2023). Proyeksi Penerapan Pajak Karbon dalam Upaya Menekan Emisi Gas Rumah Kaca Pada Sektor Pertanian dan Perkebunan di Indonesia. INNOVATIVE: Journal Of Social Science Research, 3(4), 9070–9080.
Asyari, S., & Hernawati, E. (2023). Pengaruh Pengungkapan Emisi Karbon Dan Kinerja Lingkungan Terhadap Reaksi Investor Dengan Media Exposure Sebagai Variabel Moderasi. Jurnal Akuntansi Trisakti, 10(2), 319–342.
Atmaja & Probohudono. (2015). Analisis audit BPK RI terkait kelemahan SPI, temuan ketidakpatuhan dan kerugian negara. Integritas: Jurnal Antikorupsi. http://jurnal.kpk.go.id/index.php/integritas/article/view/115
Azhari, M. T., Al Fajri Bahri, M. P., Asrul, M. S., & Rafida, T. (2023). Metode penelitian kuantitatif. PT. Sonpedia Publishing Indonesia.
Berthelot, S., & Robert, A.-M. (2011). Climate change disclosures: An examination of Canadian oil and gas firms. Issues in Social and Environmental Accounting, 5(1/2), 106–123.
Bilal, Tan, D., Komal, B., Ezeani, E., Usman, M., & Salem, R. (2022). Carbon emission disclosures and financial reporting quality: Does ownership structure and economic development matter? Environmental Science & Policy, 137, 109–119. https://doi.org/10.1016/j.envsci.2022.08.004
Christine, Y., & Meiden, C. (2021). Analisis pengungkapan sustainability report pt. Waskita karya (persero) tbk dan ytl corporation berhad tahun 2018 berdasarkan gri standards. Jurnal Akuntansi, 10(1), 1–7.
Dowling, J., & Pfeffer, J. (1975). Organizational legitimacy: Social values and organizational behavior. Pacific Sociological Review, 18(1), 122–136.
Dutta, A., Jana, R. K., & Das, D. (2020). Do green investments react to oil price shocks? Implications for sustainable development. Journal of Cleaner Production, 266, 121956. https://doi.org/10.1016/j.jclepro.2020.121956
Farhana, S., & Adelina, Y. E. (2019). Relevansi nilai laporan keberlanjutan di Indonesia. Jurnal Akuntansi Multiparadigma, 10(3), 615–628.
Fathia, A. N., & Sulfitri, V. (2023). Pengaruh CSR, Carbon Emission Disclosure dan Kinerja Lingkungan terhadap Keberlanjutan Perusahaan dengan Visi Misi sebagai Variabel Moderasi. Realible Accounting Journal, 3(1), 1–12.
Febrita, R. E., & Kristanto, A. B. (2019). Kualitas laporan keuangan perusahaan publik di Indonesia. Jurnal Akuntansi: Kajian Ilmiah Akuntansi, 6(2), 157–177.
Firmansyah, A., Jadi, P. H., Febrian, W., & Fasita, E. (2021). Respon pasar atas pengungkapan emisi karbon di Indonesia: bagaimana peran tata kelola perusahaan. Jurnal Magister Akuntansi Trisakti, 8(2).
Ghaniyyu, F. F., & Husnita, N. (2021). Upaya Pengendalian Perubahan Iklim Melalui Pembatasan Kendaraan Berbahan Bakar Minyak di Indonesia Berdasarkan Paris Agreement. Morality: Jurnal Ilmu Hukum, 7(1), 110–129.
Ghozali, I. (2018). Aplikasi analisis multivariete dengan program IBM SPSS 23.
Handoko, S. F., & Yanti, H. B. (2023). Pengaruh pengungkapan sustainability report, green accounting, green strategy terhadap kualitas laporan keuangan. Jurnal Ekonomi Trisakti, 3(1), 977–988.
Haninun, H., Lindrianasari, L., & Denziana, A. (2018). The effect of environmental performance and disclosure on financial performance. International Journal of Trade and Global Markets, 11(1–2), 138–148.
Hütten, C., & Sessar, C. (2011). International Accounting Standards Board (IASB).
IAI. (2001). Pedoman Standar Akuntansi Publik. Jakarta: Salemba Empat.
Jensen, M. C., & Meckling, W. H. (2019). Theory of the firm: Managerial behavior, agency costs and ownership structure. In Corporate governance (pp. 77–132). Gower.
Jihan, S., & Murwaningsari, E. (2023). Pengaruh pembangunan berkelanjutan dan laporan keberlanjutan terhadap kinerja perusahaan dengan biaya lingkungan sebagai variabel moderasi. Jurnal Ekonomi Trisakti, 3(2), 3103–3114.
Karim, A. T. M. E., Albitar, K., & Elmarzouky, M. (2021). A novel measure of corporate carbon emission disclosure, the effect of capital expenditures and corporate governance. Journal of Environmental Management, 290, 112581. https://doi.org/10.1016/j.jenvman.2021.112581
Kurnia, P., Darlis, E., & Putr, A. A. (2020). Carbon emission disclosure, good corporate governance, financial performance, and firm value. The Journal of Asian Finance, Economics and Business, 7(12), 223–231.
Lemma, T. T., Shabestari, M. A., Freedman, M., & Mlilo, M. (2020). Corporate carbon risk exposure, voluntary disclosure, and financial reporting quality. Business Strategy and the Environment, 29(5), 2130–2143.
Lie, C., Wardani, R. P., & Pikir, T. W. (2016). The effect of liquidity, solvency, profitability, and management plan on going concern audit opinion (empirical study of manufacturing companies on the IDX list). Berkala Akuntansi Dan Keuangan Indonesia (BAKI), 1(2), 84–105.
Loru, T. S. (2023). Pengaruh tipe industri, media exposure dan kinerja lingkungan terhadap pengungkapan emisi karbon. Jurnal Akuntansi Bisnis, 16(1), 66–82.
Mariana H., & Noviyanti, S. (2024). Hotria Mariana, Sri Noviyanti Tim Redaksi Artikel "IFRS S1 dan S2 Diberlakukan, Indonesia Masuki Era Baru Pelaporan Keberlanjutan". https://lestari.kompas.com/.
Michael, H. L. (2019). Pengaruh proporsi direksi independen, proporsi komisaris independen dan stakeholders terhadap sustainability report. Jurnal Paradigma Akuntansi, 1(3), 638–645.
Nadirah, S. P., Pramana, A. D. R., & Zari, N. (2022). Metodologi penelitian kualitatif, kuantitatif, mix method (mengelola Penelitian Dengan Mendeley dan Nvivo). CV. Azka Pustaka.
Nurmalasari, N., & Kania, S. D. (2024). The role of green investment on sustainable performance with financial performance as a mediating variable (Case studies on manufacturing industrial companies listed on the IDX for the 2018-2022 period). Seminar Nasional Pariwisata Dan Kewirausahaan (SNPK), 3, 617–627.
Nursulistyo, E. D., Aryani, Y. A., & Bandi, B. (2023). The disclosure of carbon emission in Indonesia: A systematic literature review. Jurnal Dinamika Akuntansi Dan Bisnis, 10(1), 1–18.
Panda, B., & Leepsa, N. M. (2017). Agency theory: Review of theory and evidence on problems and perspectives. Indian Journal of Corporate Governance, 10(1), 74–95.
Pangaribuan, H., Sunarsi, D., Santoso, A., Wahyuni, E. S., & Yoewono, H. (2023). Quality of financial statement and the factors that influence it. Jurnal Akuntansi, 27(1), 176–196.
Priadana, M. S., & Sunarsi, D. (2021). Metode penelitian kuantitatif. Pascal Books.
Ramadhani, K., & Astuti, C. D. (2023). Pengaruh Green Strategy dan Green Investment Terhadap Carbon Emission Disclosure dengan Media Exposure Sebagai Variabel Pemoderasi. Jurnal Informasi, Perpajakan, Akuntansi, Dan Keuangan Publik, 18(2), 323–338.
Riyanti, Y. E., & Murwaningsari, E. (2023). Corporate governance role as moderating green intellectual capital and green accounting influence on sustainable finance implementation in IDX listed banks. Devotion: Journal of Research and Community Service, 4(8), 1593–1611.
Rupbianti, V., Mudrikah, Y. P., & Suwendha, D. O. (2022). Penggunaan Sistem Informasi Manajemen Terhadap Kualitas Laporan Keuangan Pada UKM Kuliner Malam di Kecamatan Tulungagung.
Saputri, H., Kusnaedi, U., & Asmana, Y. (2023). Pengaruh Sistem Informasi Akuntansi Terhadap Kualitas Laporan Keuangan Perusahaan Jasa di Jakarta Utara. Madani: Jurnal Ilmiah Multidisiplin, 1(4), 102–109.
SEOJK. (2021). SEOJK NO 16 /SEOJK.04/2021 Tentang Bentuk Dan Isi Laporan Tahunan Emiten Atau Perusahaan Publik. https://www.ojk.go.id/.
Setyawati, D. U., Korida, B. D., & Febrilia, B. R. A. (2020). Analisis Regresi Logistik Ordinal Faktor-Faktor yang Mempengaruhi IPK Mahasiswa. Jurnal Varian, 3(2), 65–72.
Shen, Y., Su, Z.-W., Malik, M. Y., Umar, M., Khan, Z., & Khan, M. (2021). Does green investment, financial development and natural resources rent limit carbon emissions? A provincial panel analysis of China. Science of The Total Environment, 755, 142538. https://doi.org/10.1016/j.scitotenv.2020.142538
Siregar, N. Y., & Safitri, T. A. (2019). Pengaruh pengungkapan enterprise risk management, intellectual capital, corporate social responsibility, dan sustainability report terhadap nilai perusahaan. Jurnal Bisnis Darmajaya, 5(2), 53–79.
Siregar, Y. S., Darwis, M., Baroroh, R., & ... (2022). Peningkatan Minat Belajar Peserta Didik dengan Menggunakan Media Pembelajaran yang Menarik pada Masa Pandemi Covid 19 di SD Swasta HKBP 1 Padang ... Jurnal Ilmiah Kampus ...
Sugiyono, S. (2016). Metode penelitian kuantitatif, kualitatif, R&D. Bandung: Alfabeta, 1(11).
Syabilla, D., Wijayanti, A., & Fahria, R. (2021). Pengaruh investasi hijau dan keragaman dewan direksi terhadap pengungkapan emisi karbon. Konferensi Riset Nasional Ekonomi Manajemen Dan Akuntansi, 2(1), 1171–1186.
Tila, S. M., & Agustine, Y. (2019). The effect of corporate governance, green strategy and carbon risk management toward carbon emission disclosure (listed company in and out on calculation indeks Sri Kehati in IDX periode 2016–2017). European Journal of Business and Management, 11(23), 41–51.
Wardaningtyas, D., & Poerwati, T. (2024). Pengaruh Pengungkapan Sustainability Report, Green Accounting Dan Green Strategy Terhadap Kualitas Laporan Keuangan. Jurnal Riset Akuntansi Politala, 7(2), 518–529.
Yesiani, M. E. S., Sari, D. P., & Kristina, N. (2023). Pengaruh Kinerja Lingkungan dan Green Investment Terhadap Pengungkapan Emisi Karbon. Jurnal Ilmiah Mahasiswa Akuntansi, 12(2), 102–111.
Zhang, Y., & Berhe, H. M. (2022). The impact of green investment and green marketing on business performance: The mediation role of corporate social responsibility in Ethiopia’s Chinese textile companies. Sustainability, 14(7), 3883.
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2025 International Journal of Economics and Management Research
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
