The Role of SDGs Disclosure on the Effect of Green Innovation, Greenhouse Gas Emissions, and Eco-Efficiency on Firm Value

Abstract

This research aimed to determine the role of SDGs disclosure in moderating the effects of green innovation, GHG emissions, and eco-efficiency on firm value. The sample for this research consisted of companies included in the SRI-KEHATI index from 2018 to 2022. A quantitative approach was used, with panel data processed using EVIEWS 10. The sample was selected using purposive sampling, resulting in 16 companies. Over a period of five years, this provided a total of 80 observations. Secondary data were obtained from the internet, specifically from the official IDX website (www.idx.co.id), the Yayasan Keanekaragaman Hayati Indonesia website (www.kehati. or.id), and the official websites of each company. The results of this study indicated that green innovation and GHG emissions had a partial effect on f irm value. An increase in green innovation enhanced firm value, whereas an increase in GHG emissions led to a decrease in firm value. Eco-efficiency, however, did not have a significant effect on firm value. Additionally, SDGs disclosure moderated the impact of green innovation and GHG emissions on f irm value, but it did not moderate the effect of eco-efficiency on firm value.

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