Claim Missing Document
Check
Articles

Found 1 Documents
Search
Journal : law development journal

Analysis Legal Awareness in Sustainable Finance through the Good Corporate Governance Risk Compliance Framework under POJK No. 51/POJK.03/2017 Chandra Erick Manaek Pandapotan Lumban Gaol; Tarsisius Murwadji; Beniadi Setiawan
Law Development Journal Vol 8, No 2 (2026): June 2026
Publisher : Universitas Islam Sultan Agung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30659/ldj.8.2.1163-1190

Abstract

The implementation of sustainable finance in Indonesia continues to face a significant gap between regulatory expectations and corporate practices, particularly in the coal mining sector. Despite the Sustainability Report requirement under POJK No. 51/POJK.03/2017, environmental violations and inadequate post-mining reclamation demonstrate that formal compliance may not reflect substantive legal awareness. This study aims to examine the implementation of sustainable finance obligations and assess the legal awareness of major coal mining issuers through the Good Corporate Governance, Risk, and Compliance (GC-GRC) framework. A normative-empirical (socio-legal) approach was employed using hybrid content analysis to triangulate primary data from corporate sustainability reports with secondary data documenting thirty environmental and social violations. The findings reveal persistent greenwashing practices, where formal sustainability disclosures are inconsistent with empirical environmental performance. Most issuers demonstrate an Instrumental Legal Culture, treating compliance primarily as a means to avoid regulatory sanctions rather than as an internalized commitment to ecological justice. The study concludes that strengthening sustainable finance requires not only regulatory compliance but also the transformation of corporate legal culture through an effective GC-GRC framework and stronger institutional enforcement.
Co-Authors ., Hasna Agus Budiman Agus Suwandono Agus, Yoga Mulya Anggi Saraswati Ayunda Gayatri Maheswari Azzahra Jihan Shubihantoro Bambang Daru Nugroho Bambang Daru Nugroho Beniadi Setiawan Chandra Erick Manaek Pandapotan Lumban Gaol Chandra Erick Manaek Pandapotan Lumban Gaol Dadang Epi Sukarsa Dadang Epi Sukarsa Deden Suryo Rahardjo Dedi Harianto Dewi Ari Shia Wase Meliala Dewi Parhusip Djuhaendah Hasan Efa Laela Fakhriah Elisatris Gultom Elvetta, Shisca Etty Mulyati Fahrurrozi, Rizky Gilda Nathania Sirait Haliman, Yudi HASIM PURBA Helza Nova Lita Helza Nova Lita Helza Nova Lita Hernadi Affandi Holyness Nurdin Singadimedja Huala Adolf Ikhsan Lubis Illona Novira Elthania Karnosaputra, Yanto Kilkoda Agus Saleh Kusuma, Sylvia Lubis, Ikhsan Lukmanul Hakim Maheswari, Ayunda Gayatri MAHMUL SIREGAR Marcelline Allegra Marcelline Allegra Mariane Magda Ketaren Mbilinyi, Francis Daniel Mien Rukmini, Mien Moch. Marsa Taufiqurrohman Mochamad Dzaki Ansori Nisabilah Anjani Novrizha Dinda Larasati Nun Harrieti Nun Harrieti Nun Harrieti, Nun Parlin Dony Sipayung Patricia Mutiara Karinta Permana, Sudaryat Putri, Salma Indah Rahardjo, Deden Suryo Renny Supriyatni Bachro Robert, Robert Rosmalinda, Rosmalinda Salma Indah Putri Salsabila Chairunnisa Seyba Nabilla Iwandha Shafa Dinda Putri Shannia Angelia Rahardjo Sheila Eldi Azzahra Sukarja, Detania Sunarmi Sunarmi Sunarmi Supraba Sekarwati Widjayani Syifa Afiani Widaningtyas Taufiqurrohman, Moch. Marsa Teguh Tresna Puja Asmara Veronica, Angela Vonny Rachel Caroline Windi Afdal, Windi Zulfa, Indani