Determinants Of Carbon Emission Disclosure: Environmental Performance, Environmental Management System, Institutional Ownership

Abstract

This study examines the effect of environmental performance, environmental management system, and institutional ownership on carbon emission disclosure in energy sector companies listed on the Indonesia Stock Exchange during 2022–2024. This research uses a quantitative approach and secondary data from annual and sustainability reports, selected through purposive sampling, yielding 48 observations. The analysis method employed is multiple linear regression. The results show that environmental performance, environmental management system, and institutional ownership have a positive and significant effect on carbon emission disclosure. These findings indicate that companies with better environmental performance, structured environmental systems, and higher institutional ownership tend to disclose carbon emissions more extensively. The results support legitimacy and stakeholder theories, where companies increase transparency to meet stakeholder expectations and maintain social legitimacy. However, the model has limited explanatory power, suggesting that other factors may influence carbon emission disclosure.