Green Accounting and Public Share Ownership as Determinants of ESG-Based CSR Disclosure: Evidence from Indonesia’s Coal Mining Sector

Abstract

This study examines the effect of Green Accounting and Public Share Ownership on ESG-based Corporate Social Responsibility (CSR) disclosure in the Indonesian coal mining subsector during the 2022–2024 period. The coal mining industry is characterized by high environmental risk and increasing pressure related to sustainability reporting and environmental accountability. This study employs a quantitative approach using purposive sampling, resulting in 45 firm-year observations. ESG-based CSR disclosure is measured using a disclosure index aligned with GRI Standards 2021. Data analysis was conducted using multiple linear regression analysis. The results indicate that Green Accounting has a positive and significant effect on ESG-based CSR disclosure, implying that the integration of environmental costs into accounting systems enhances sustainability transparency. Meanwhile, Public Share Ownership has a negative and significant effect, suggesting that dispersed ownership structures may weaken long-term sustainability orientation and reduce disclosure commitment. These findings support Legitimacy Theory and Agency Theory in explaining ESG disclosure behavior in environmentally sensitive industries. This study contributes to sustainability accounting literature by providing empirical evidence regarding the role of internal environmental commitment and ownership structure in shaping ESG-based CSR disclosure practices within Indonesia’s coal mining sector.