The impact of cabon performance, green strategy, financial performance, and media exposure on carbon emissions disclosure

Abstract

This study aims to analyze the impact of carbon performance, green strategy, financial performance, and media exposure on carbon emissions disclosure among manufacturing companies listed on the Indonesia Stock Exchange (IDX) during 2022 to 2024. The background of this study is based on the increase in greenhouse gas emissions from manufacturing companies in Indonesia, which reached 367,738 thousand tons of CO₂e in 2023, as well as the still low quality and consistency of companies’ carbon emissions disclosures. This study employs a quantitative research design with a causal approach and is grounded in legitimacy theory. The data used consists of secondary data in the form of annual reports and sustainability reports obtained from the official IDX website and the respective companies’ websites. The sampling technique employed purposive sampling, with a total sample of 264 observations from 88 manufacturing companies. Data analysis utilized multiple linear regression with the assistance of SPSS 31, yielding an Adjusted R² value of 37.7%. The research results indicate that carbon performance, green strategy, and media exposure have a positive effect on carbon emissions disclosure. Meanwhile, financial performance does not affect carbon emissions disclosure. These findings confirm that carbon emissions disclosure is influenced not only by financial capacity but also by the quality of emissions management, strategic environmental orientation, and public pressure through the media.

Keywords:  Carbon Emissions Disclosure, Carbon Performance, Green Strategy, Finansial Performace, Media Exposure