Jurnal Sosial dan Sains
Vol. 5 No. 11 (2025): Jurnal Sosial dan Sains

Effect of Greenhouse Gas Emissions, Renewable Energy Utilization, CSR Expenditures, and Green Finance on Financial Performance in the Energy Sector for the Period 2021–2023

Anfila Catur Berliana (Unknown)
Ridarmelli, Ridarmelli (Unknown)



Article Info

Publish Date
12 Nov 2025

Abstract

This study examines the impact of greenhouse gas emissions, renewable energy usage, Corporate Social Responsibility (CSR) expenditure, and green finance on the financial performance of energy companies in Indonesia. Using multiple regression analysis, this research employs secondary data extracted from the annual reports of energy companies listed on the Indonesia Stock Exchange for the period 2021–2023. The findings reveal that greenhouse gas emissions and renewable energy usage have a significant negative effect on financial performance, indicating that higher emissions and increased reliance on renewable energy are associated with lower profitability. Conversely, CSR expenditure exhibits a significant positive effect, suggesting that greater investment in social responsibility enhances financial performance. Meanwhile, green finance does not demonstrate a significant influence on financial performance. These results provide valuable insights for mining companies in formulating sustainable and responsible business strategies while contributing to the broader discourse on the nexus between sustainability and corporate financial performance.

Copyrights © 2025






Journal Info

Abbrev

sosains

Publisher

Subject

Astronomy Environmental Science Law, Crime, Criminology & Criminal Justice Library & Information Science Physics

Description

Jurnal sosial dan sains (SOSAINS) is a double blind peer-reviewed academic journal and open access to social and science fields. The journal is published monthly by Green Publisher Indonesia. Jurnal sosial dan sains (SOSAINS) provides a means for sustained discussion of relevant issues that fall ...