TRANSFORMING CARBON EMISSION TRANSPARENCY: THE IMPACT OF GREEN R&D, MEDIA EXPOSURE, AND ENVIRONMENTAL COSTS IN INDONESIA
Keywords:
carbon emission disclosure, environmental cost, green innovation, media exposure, RnD intensity
Abstract
In supporting global carbon emission reduction initiatives, the Financial Services Authority (OJK) has taken part in organizing a carbon exchange aimed at reducing carbon emission levels. Additionally, the Indonesian Government enacted Law Number 16 of 2016 concerning the Ratification of the Paris Agreement to the United Nations Framework Convention on Climate Change, as well as Presidential Regulation Number 61 of 2011 concerning the national action plan for reducing greenhouse gas emissions. Therefore, companies must implement an effective environmental management system, which includes pollution prevention, the reuse or recycling of waste and unused products, energy efficiency by seeking alternative renewable energy sources, and regulation. This study aims to investigate the effects of R&D intensity, media exposure, and environmental cost allocation on the quality of carbon emission disclosure. Carbon emission disclosure is measured using a scoring index developed by Choi et al. (2013) based on the Carbon Disclosure Project (CDP). The study’s results show that environmental costs and media exposure have a positive and significant effect on carbon emission disclosure in Indonesia, while R&D intensity has a positive but insignificant effect. In Indonesia, factors such as environmental budgets and media exposure play a crucial role in encouraging companies to be more transparent about their carbon emissions. Regarding R&D intensity, although it fosters corporate innovation, it has not yet significantly driven companies to be more open about their carbon emissions at this time.
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References
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Dawkins, C., & Fraas, J. W. (2011). Coming Clean: The Impact of Environmental Performance and Visibility on Corporate Climate Change Disclosure. Journal of business ethics, 100(2), 303-322. doi:https://doi.org/10.1007/s10551-010-0681-0
Elshandidy, T., Fraser, I., & Hussainey, K. (2013). Aggregated, Voluntary, and Mandatory Risk Disclosure Incentives: Evidence from UK FTSE All-Share Companies. International Review of Financial Analysis, 30, 320-333. doi:https://doi.org/10.1016/j.irfa.2013.07.010
Ferdiani, A. M., & Mulyani, S. D. (2023). Pengaruh Social Performance, Media Exposure, dan Sistem Manajemen Lingkungan Terhadap Pengungkapan Emisi Karbon. Jurnal Ekonomi Trisakti, 3(2), 3373-3382. doi:https://doi.org/10.25105/jet.v3i2.18015
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Hall, B. H., & Lerner, J. (2010). The Financing of R&D and Innovation. Handbook of the Economics of Innovation, 1, 609-639. doi:https://doi.org/10.1016/S0169-7218(10)01014-2
Hart, S. L., & Dowell, G. (2011). Invited Editorial: A Natural-Resource-Based View of the Firm: Fifteen Years After. Journal of Management, 37(5). doi:https://doi.org/10.1177/0149206310390219
Huaman, R. N. E., & Jun, T. X. (2014). Energy Related CO2 Emissions and the Progress on CCS Projects: A Review. Renewable and Sustainable Energy Reviews, 31, 368-385. doi:https://doi.org/10.1016/j.rser.2013.12.002
Huang, C.-L., & Kung, F.-H. (2010). Drivers of Environmental Disclosure and Stakeholder Expectation: Evidence from Taiwan. Journal of business ethics, 96(3), 435-451. doi:https://doi.org/10.1007/s10551-010-0476-3
Imansari, L. C., Irmadariyani, R., & Sayekti, Y. (2024). Pengaruh Pengungkapan Emisi Karbon dan Penerapan Sistem Manajemen Lingkungan Terhadap Kinerja Lingkungan dengan CEO Power Sebagai Variabel Moderasi. Jurnal Akuntansi Trisakti, 11(2), 297-316. doi:https://doi.org/10.25105/v11i2.21114
Islam, M. A., & Deegan, C. (2010). Media Pressures and Corporate Disclosure of Social Responsibility Performance Information: A Study of Two Global Clothing and Sports Retail Companies. Accounting and business research, 40(2), 131-148. doi:https://doi.org/10.1080/00014788.2010.9663388
Islam, M. A., Dissanayake, T., Dellaportas, S., & Haque, S. (2018). Anti-Bribery Disclosures: A Response to Networked Governance. Accounting Forum, 42(1), 3-16. doi:https://doi.org/10.1016/j.accfor.2016.03.002
Jasch, C. (2003). The use of Environmental Management Accounting (EMA) for Identifying Environmental Costs. Journal of Cleaner production, 11(6), 667-676. doi:https://doi.org/10.1016/S0959-6526(02)00107-5
Kabongo, J. D., & Okpara, J. O. (2013). Environmental Performance: The Impact of R&D Intensity on Firms’ Environmental Concerns. In S. O. Idowu & R. Schmidpeter (Eds.), CSR, Sustainability, Ethics & Governance (pp. 89-110). Berlin: Springer.
Khan, A., Muttakin, M. B., & Siddiqui, J. (2013). Corporate Governance and Corporate Social Responsibility Disclosures: Evidence from an Emerging Economy. Journal of business ethics, 114(2), 207-223. doi:https://doi.org/10.2139/ssrn.2050630
Kiousis, S., Popescu, C., & Mitrook, M. (2007). Understanding Influence on Corporate Reputation: An Examination of Public Relations Efforts, Media Coverage, Public Opinion, and Financial Performance From an Agenda-Building and Agenda-Setting Perspective. Journal of Public Relations Research, 19(2), 147-165. doi:https://doi.org/10.1080/10627260701290661
Lee, K.-H., & Min, B. (2015). Green R&D for Eco-Innovation and its Impact on Carbon Emissions and Firm Performance. Journal of Cleaner production, 108, 534-542. doi:https://doi.org/10.1016/j.jclepro.2015.05.114
Liesen, A., Hoepner, A. G., Patten, D. M., & Figge, F. (2015). Does Stakeholder Pressure Influence Corporate GHG Emissions Reporting? Empirical Evidence from Europe. Accounting, Auditing & Accountability Journal, 28(7), 1047-1074. doi:https://doi.org/10.1108/AAAJ-12-2013-1547
Lindrianasari, & Asmaranti, Y. (2004). Investigative Studies on Environmental Disclosure and the Costs of R&D as a Compliance with Government Policy on| Corporate Social Responsibility in Indonesia. International Journal of Environment and Sustainability, 5(2), 61-71. doi:https://doi.org/10.24102/ijes.v5i2.675
Lindrianasari, Kufepaksi, M., Asmaranti, Y., & Komalasari, A. (2018). Social and Environmental Responsibility in Developing Countries: A Theoretical Approach to Regulation. International Journal of GEOMATE, 15(49), 47-52. doi:https://doi.org/10.21660/2018.49.3684
Liu, B., & McConnell, J. J. (2013). The Role of the Media in Corporate Governance: Do the Media Influence Managers' Capital Allocation Decisions?. Journal of Financial Economics, 110(1), 1-17. doi:https://doi.org/10.1016/j.jfineco.2013.06.003
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Published
2025-01-30
How to Cite
Majidah, R., Octary, A., & Fathia, S. (2025, January 30). TRANSFORMING CARBON EMISSION TRANSPARENCY: THE IMPACT OF GREEN R&D, MEDIA EXPOSURE, AND ENVIRONMENTAL COSTS IN INDONESIA. Jurnal Akuntansi Dan Keuangan (JAK), 30(1), 43-56. https://doi.org/https://doi.org/10.23960/jak.v30i1.3438
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