DOI of the published article https://doi.org/10.61796/ijeirc.v2i12.432
Environmental, Social, Governance (ESG), Carbon Emissions, and Green Investment: Determinants of Firm Value in the Era of Sustainability
Environmental, Social, Governance (ESG), Emisi Karbon, dan Green Investment: Determinan Nilai Perusahaan di Era Keberlanjutan
DOI:
https://doi.org/10.21070/ups.9936Keywords:
ESG, Carbon Emission Disclosure, green investment, Firm ValueAbstract
Escalating climate change encourages companies to integrate sustainability principles into their business strategies. Firm value has become an important indicator for investors when making investment decisions. Recent investment trends show that investors no longer focus solely on financial performance, but also consider non-financial aspects, particularly environmental, social, and governance (ESG) factors, as responses to climate change and the Sustainable Development Goals (SDGs). Carbon emission intensity reflects the level of CO2 emissions produced by a company. In line with sustainability implementation, companies are encouraged to allocate resources toward environmentally responsible activities. Accordingly, this study examines the effect of ESG scores, carbon emission intensity, and green investment on firm value. The research applies a quantitative approach using companies listed on the Indonesia Stock Exchange that disclosed ESG information during 2021–2024. Data are analyzed using multiple linear regression. The results show that ESG scores, carbon emission intensity, and green investment influence firm value.
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