The Development of Sustainability Reports In Indonesia: Management Approaches and Performance Indicators (Case Study in the Energy Sector 2020-2024)
DOI:
https://doi.org/10.20527/jwm.v14i2.513Keywords:
Sustainability report, management approach, performance indicators, SDGs, content analysisAbstract
The issue of sustainability reports is a growing concern impacting numerous domestic and international companies. This phenomenon can be attributed to the emergence of sustainability report practices, which enhance corporate image and ensure corporate sustainability. This study utilizes a comprehensive dataset to assess the sustainability reports of Indonesian companies. The analysis employs two distinct types of information: a management approach to the extent of corporate governance disclosure and performance indicators (economic, environmental, and social performance) in sustainability disclosure reporting. A longitudinal approach was employed to evaluate developments up to 2020 – 2024, specifically for companies operating dengan 222 sampel in the energy sector , because the energy sector is an industry with a fairly significant operational impact on the environment. The content analysis framework aligns with the Global Reporting Initiative (GRI) Standards. The findings indicate a positive development in the disclosure of information types, with companies reporting an average governance performance of 77.77% in corporate management. However, the disclosure of economic performance indicators (39.57%), environmental performance (40.47%), and social performance (47.05%) was found to be lower. Aggregate EESG (economic, environmental, social, and governance) disclosure was 48.68%. The quantity of information utilized exhibited considerable variation across diverse sustainability domains. This study also conducted additional testing by performing statistical tests to examine the impact of the disclosure of these two types of information (management approach-performance indicators) on financial performance. The findings indicate that economic and social indicators exert a substantial influence on financial performancems.
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Alfariz, R., & Widiastuti, H. (2021). The Influence of Media Exposure , Managerial Ownership , and the Indonesia Sustainability Reporting Award on Corporate Social Responsibility ( CSR ) Disclosure. 176(ICoSIAMS 2020), 259–266.
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Brooks, C., & Oikonomou, I. (2018). The effects of environmental, social and governance disclosures and performance on firm value: A review of the literature in accounting and finance. British Accounting Review, 50(1), 1–15. https://doi.org/10.1016/j.bar.2017.11.005
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Milne, M. J., & Gray, R. (2013). W(h)ither Ecology? The Triple Bottom Line, the Global Reporting Initiative, and Corporate Sustainability Reporting. Journal of Business Ethics, 118(1), 13–29. https://doi.org/10.1007/s10551-012-1543-8
Nobanee, H., & Ellili, N. (2016). Corporate sustainability disclosure in annual reports: Evidence from UAE banks: Islamic versus conventional. Renewable and Sustainable Energy Reviews, 55, 1336–1341. https://doi.org/10.1016/j.rser.2015.07.084
Nuraini, M., Mukhlis, & Kartasari, S. F. (2023). Hubungan Antara Praktik Ekonomi, Lingkungan, Sosial, dan Tata Kelola dengan Nilai Perusahaan Efek Mediasi Kinerja Keuangan. Jurnal Informatika Ekonomi Bisnis, 5, 791–800. https://doi.org/10.37034/infeb.v5i3.593
Purbawangsa, I. B. A., Solimun, S., Fernandes, A. A. R., & Mangesti Rahayu, S. (2019). Corporate governance, corporate profitability toward corporate social responsibility disclosure and corporate value (comparative study in Indonesia, China and India stock exchange in 2013-2016). Social Responsibility Journal, 16(7), 983–999. https://doi.org/10.1108/SRJ-08-2017-0160
Rezaee, Z. (2016). Business sustainability research: A theoretical and integrated perspective. Journal of Accounting Literature, 36, 48–64. https://doi.org/10.1016/j.acclit.2016.05.003
Weder, F. (2023). The Evolution of the Sustainability Story: Strategic Sustainability Communication as Niche Construction. International Journal of Strategic Communication, 17(3), 228–244. https://doi.org/10.1080/1553118X.2023.2229304
A. A. Zaid, M., Wang, M., Adib, M., Sahyouni, A., & T. F. Abuhijleh, S. (2020). Boardroom nationality and gender diversity: Implications for corporate sustainability performance. Journal of Cleaner Production, 251, 119652. https://doi.org/10.1016/j.jclepro.2019.119652
Alfariz, R., & Widiastuti, H. (2021). The Influence of Media Exposure , Managerial Ownership , and the Indonesia Sustainability Reporting Award on Corporate Social Responsibility ( CSR ) Disclosure. 176(ICoSIAMS 2020), 259–266.
Bouten, L., Everaert, P., Van Liedekerke, L., De Moor, L., & Christiaens, J. (2011). Corporate social responsibility reporting: A comprehensive picture? Accounting Forum, 35(3), 187–204. https://doi.org/10.1016/j.accfor.2011.06.007
Brooks, C., & Oikonomou, I. (2018). The effects of environmental, social and governance disclosures and performance on firm value: A review of the literature in accounting and finance. British Accounting Review, 50(1), 1–15. https://doi.org/10.1016/j.bar.2017.11.005
Chairina, C., & Tjahjadi, B. (2023). Green Governance and Sustainability Report Quality: The Moderating Role of Sustainability Commitment in ASEAN Countries. Economies, 11(1). https://doi.org/10.3390/economies11010027
Durlista, M. A., & Wahyudi, I. (2023). Pengaruh Pengungkapan Environmental, Social Dan Governance (Esg) Terhadap Kinerja Perusahaan Pada Perusahaan Sub Sektor Pertambangan Batu Bara Periode 2017-2022. Jurnal Ilmiah Manajemen, Ekonomi, & Akuntansi (MEA), 7(3), 210–232. https://doi.org/10.31955/mea.v7i3.3327
Elvia Shauki, A. T. F. – C. I. dan T. T. I. (2022). Publikasi Task Force Comprehensive Corporate Reporting IAI. Iai, Ifac, Ca Is a Difference Maker, 02, 1–5.
Eriyanti, Y., & Fitri, A. (2022). Pengaruh pengungkapan sustainability reporting berdasarkan GRI standards terhadap kinerja perusahaan non keuangan yang terdaftar pada Indeks SRI-KEHATI tahun 2017-2019. Jurnal Akuntansi Trisakti, 9(1), 145–154. https://e-journal.trisakti.ac.id/index.php/jat/article/view/10272
Evans, N., & Price, J. (2020). Development of a holistic model for the management of an enterprise’s information assets. International Journal of Information Management, 54(January 2019), 102193. https://doi.org/10.1016/j.ijinfomgt.2020.102193
Freeman, R. E. (1984). Stakeholder theory : Wiley Encyclopedia of Manajemen.
Girón, A., Kazemikhasragh, A., Cicchiello, A. F., & Panetti, E. (2021). Sustainability Reporting and Firms’ Economic Performance: Evidence from Asia and Africa. Journal of the Knowledge Economy, 12(4), 1741–1759. https://doi.org/10.1007/s13132-020-00693-7
Hermanto, H. (2021). Model Triple Bottom Menuju Kinerja Keuangan. JURNAL AKUNTANSI DAN BISNIS : Jurnal Program Studi Akuntansi, 7(2), 166–179. https://doi.org/10.31289/jab.v7i2.5648
Juwono, S., & Mayangsari, S. (2022). Pengaruh Koneksi Politik, Kepemilikan Keluarga Dan Ukuran Perusahaan Terhadap Pengungkapan CSR Perusahaan. Jurnal Akuntansi Trisakti, 9(1), 1–26. https://doi.org/10.25105/jat.v9i1.10357
KPMG. (2022). Big shifts, small steps. October, 1–81. chrome-extension://efaidnbmnnnibpcajpcglclefindmkaj/https://assets.kpmg/content/dam/kpmg/pk/pdf/2022/10/Survey-of-Sustainability-Reporting-2022.pdf
Kurniawan, T., Sofyani, H., & Rahmawati, E. (2018). Pengungkapan Sustainability Report dan Nilai Perusahan: Studi Empiris di Indonesia dan Singapura. Kompartemen: Jurnal Ilmiah Akuntansi, 16(1), 1–20. https://doi.org/10.30595/kompartemen.v16i1.2100
Leite, E., Koporcic, N., & Markovic, S. (2024). Corporate Sustainability Reporting: Shifting From Optional Due Diligence to Mandatory Duty. Business Ethics, the Environment and Responsibility, 2048–2055. https://doi.org/10.1111/beer.12753
Maharani, S. N. (2013). Corporate Sustainability Report Sebagai Indikator Pengambilan Keputusan Investasi. 15(2), 191–200. http://www.yinglisolar.com/us/about/sustainability/
Michelon, G., & Parbonetti, A. (2012). The effect of corporate governance on sustainability disclosure. Journal of Management & Governance, 16(3), 477–509. https://doi.org/10.1007/s10997-010-9160-3
Milne, M. J., & Gray, R. (2013). W(h)ither Ecology? The Triple Bottom Line, the Global Reporting Initiative, and Corporate Sustainability Reporting. Journal of Business Ethics, 118(1), 13–29. https://doi.org/10.1007/s10551-012-1543-8
Nobanee, H., & Ellili, N. (2016). Corporate sustainability disclosure in annual reports: Evidence from UAE banks: Islamic versus conventional. Renewable and Sustainable Energy Reviews, 55, 1336–1341. https://doi.org/10.1016/j.rser.2015.07.084
Nuraini, M., Mukhlis, & Kartasari, S. F. (2023). Hubungan Antara Praktik Ekonomi, Lingkungan, Sosial, dan Tata Kelola dengan Nilai Perusahaan Efek Mediasi Kinerja Keuangan. Jurnal Informatika Ekonomi Bisnis, 5, 791–800. https://doi.org/10.37034/infeb.v5i3.593
Purbawangsa, I. B. A., Solimun, S., Fernandes, A. A. R., & Mangesti Rahayu, S. (2019). Corporate governance, corporate profitability toward corporate social responsibility disclosure and corporate value (comparative study in Indonesia, China and India stock exchange in 2013-2016). Social Responsibility Journal, 16(7), 983–999. https://doi.org/10.1108/SRJ-08-2017-0160
Rezaee, Z. (2016). Business sustainability research: A theoretical and integrated perspective. Journal of Accounting Literature, 36, 48–64. https://doi.org/10.1016/j.acclit.2016.05.003
Weder, F. (2023). The Evolution of the Sustainability Story: Strategic Sustainability Communication as Niche Construction. International Journal of Strategic Communication, 17(3), 228–244. https://doi.org/10.1080/1553118X.2023.2229304
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