GREEN ACCOUNTING, CORPORATE SOCIAL RESPONSIBILITY, AND FINANCIAL PERFORMANCE IN RENEWABLE ENERGY FIRMS

Nini Nini, Raini Sukma Wijaya, Adriansyah Adriansyah

Abstract


This study examines the influence of green accounting and corporate social responsibility (CSR) on the financial performance of renewable energy companies listed on the Indonesia Stock Exchange (IDX) during 2020–2024. A quantitative research design was employed using secondary data obtained from annual reports, sustainability reports, official company websites, and other relevant corporate publications. The sample was selected through purposive sampling, and the data were analyzed using multiple linear regression and mediation analysis. The findings reveal that green accounting has a positive and significant effect on financial performance. The recognition and disclosure of environmental costs strengthen corporate accountability, improve stakeholder trust, and enhance the company’s environmental image. Conversely, CSR does not have a direct and significant effect on financial performance, indicating that CSR disclosure has not yet produced immediate financial benefits during the observation period. However, the mediation test shows that CSR plays an important role in transmitting the effect of green accounting on financial performance. These results indicate that environmental cost management and substantive CSR reporting are essential for converting sustainability practices into financial value. This study confirms that integrating green accounting and CSR strategies supports both sustainability goals and economic value creation in renewable energy companies.
Keywords: Green Accounting; Corporate Social Responsibility; Financial Performance

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DOI: https://doi.org/10.31846/jae.v14i2.1050

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