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All Journal Ipso Jure
Marianne Magda
Universitas Sumatera Utara
Law, Crime, Criminology & Criminal Justice

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The Influence of ESG (Environmental, Social, Governance) on Corporate Value in the Indonesian Capital Market Tommy Aditia Sinulingga; Barran Hamzah Nasution; Marianne Magda
Ipso Jure Vol. 2 No. 6 (2025): Ipso Jure - July
Publisher : PT. Anagata Sembagi Education

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.62872/ahewga35

Abstract

In a global era marked by the climate crisis, social pressures, and demands for corporate transparency, the principles of Environmental, Social, and Governance (ESG) have evolved into strategic instruments in the capital market legal system. ESG no longer just reflects ethical preferences, but has become an objective parameter that is juridically recognized by regulators and investors in assessing a company's performance holistically. This study aims to examine the position and normative implications of ESG in the context of Law Number 8 of 1995 concerning the Capital Market, as well as its implementing regulations. The method used is normative juridical, with a legislative, conceptual, and limited comparative approach. The results of the study show that although ESG has not been explicitly regulated in the Capital Market Law, the principles of information disclosure and investor protection provide a basis for legitimacy for the implementation of ESG, which is strengthened by regulations such as POJK No. 51/POJK.03/2017. ESG also reflects the embodiment of the principles of Good Corporate Governance, as well as acting as a non-financial risk mitigation mechanism. Within a dynamic legal framework, ESG serves as an evolutionary form of capital market principles, which combine administrative and substantial compliance. Therefore, strengthening ESG regulations is a normative urgency in building an integrity, competitive, and sustainable Indonesian capital market.
Legal Certainty for Investors in the Green Economy Ecosystem: An Analysis of Sustainable Investment Regulations in Indonesia Marianne Magda; Tommy Aditia Sinulingga; Suwarto Suwarto
Ipso Jure Vol. 2 No. 4 (2025): Ipso Jure - May
Publisher : PT. Anagata Sembagi Education

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.62872/d20w3h18

Abstract

Increasing global awareness of the climate crisis has driven a paradigm shift in development towards a sustainability-oriented green economy. Indonesia, as a party to the Paris Agreement and an implementer of the Sustainable Development Goals, is obliged to integrate sustainability principles into its investment policies. Legal certainty is a key pillar to create a stable and predictable investment climate, especially in long-term sectors such as renewable energy, sustainable natural resource management, and environmentally friendly infrastructure. This research uses normative juridical methods with legislative, conceptual, and comparative approaches, examining Law No. 25 of 2007, Law No. 32 of 2009, as well as international best practices such as the EU Taxonomy and Singapore's Green Finance Action Plan. The results of the study show that even though Indonesia already has a Green Taxonomy, its implementation is still limited, hampered by regulatory disharmony, weak institutional capacity, and the risk of greenwashing. The recommendations included the establishment of a nationally binding green taxonomy, coordination of central-regional policies, competitive legal and fiscal incentives, and firm law enforcement. This effort is expected to strengthen the competitiveness of Indonesia's green investment at the global level while ensuring a balance between economic growth, environmental protection, and social welfare
Co-Authors Barran Hamzah Nasution Suwarto Suwarto Tommy Aditia Sinulingga