EMISI GRK DAN KONTROVERSI ESG SEBAGAI SINYAL NEGATIF TERHADAP NILAI PERUSAHAAN : BUKTI DARI INDONESIA

Khalilul Rahman; Sanda Patrisia Komalasari; Fatah Mario Andaru; Yuliantari Astasuci Nalurita; Aninda Puji  Adila

doi:10.53416/phhyct87

Authors

Khalilul Rahman Universitas Tidar https://orcid.org/0009-0004-3472-6659
Sanda Patrisia Komalasari Universitas Andalas
Fatah Mario Andaru Universitas Tidar
Yuliantari Astasuci Nalurita Universitas Tidar
Aninda Puji Adila Universitas Jambi

DOI:

https://doi.org/10.53416/phhyct87

Keywords:

Emisi GRK, Kontroversi ESG, Nilai Perusahaan, Indonesia

Abstract

Degradasi lingkungan dan perubahan iklim adalah masalah strategis yang akan berdampak pada keuangan dan nilai bisnis. Studi ini menyelidiki bagaimana kontroversi ESG dan emisi gas rumah kaca (GRK) memengaruhi nilai perusahaan di sektor non-keuangan di Indonesia. Studi ini melibatkan 200 observasi pada 40 perusahaan publik yang tercatat di Bursa Efek Indonesia (IDX) dari tahun 2020 hingga 2024. Seluruh data emisi GRK, skor kontroversi ESG, dan informasi keuangan perusahaan diperoleh dari basis data Refinitiv Eikon. Metode yang diterapkan pada studi ini yaitu regresi data panel dengan model Fixed Effects (FEM) dengan robust standard errors untuk mengoreksi masalah heteroskedastisitas. Studi ini mendapati emisi GRK dan kontroversi ESG secara signifikan menurunkan nilai perusahaan. Temuan ini mengindikasikan bahwa pasar modal Indonesia sudah mulai memperhitungkan risiko lingkungan dan reputasi ESG pada nilai perusahaan. Novelty dari penelitian ini berfokus pada penghitungan emisi GRK terkini (Scope 1-3) yang selaras dengan IFRS S2. Untuk mempertahankan nilai perusahaan dan memenuhi harapan investor, studi ini menunjukkan betapa pentingnya pengendalian emisi GRK dan peningkatan tata kelola keberlanjutan ESG.

Author Biography

Khalilul Rahman, Universitas Tidar

Khalilul Rahman holds a Master’s degree in Accounting from Universitas Andalas and is currently a lecturer in accounting at Tidar University. His research interests and publications focus on sustainability, finance, and capital markets.

http://www.scopus.com/inward/authorDetails.url?authorID=59361392000&partnerID=MN8TOARS

SINTA ID : 6962317

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