<![CDATA[Research objective: This study examines the effects of environmental performance and carbon emission disclosure on firm value, with intellectual capital serving as a moderating variable in the energy sector of Indonesia. Method: This study employs a quantitative approach using secondary data obtained from the annual reports and sustainability reports of energy sector companies listed on the Indonesia Stock Exchange during the 2021-2024 period. The sample was selected purposively, yielding 101 firm-year observations. Data analysis was conducted using panel data regression with a fixed-effects model. Research findings: The results indicate that environmental performance negatively affects firm value, whereas carbon emission disclosure does not. The study also finds that intellectual capital weakens the negative effect of environmental performance on firm value. However, intellectual capital does not moderate the relationship between carbon emission disclosure and firm value. These findings suggest that the market still perceives environmental initiatives as short-term cost burdens, whereas carbon emission disclosure has not yet been considered relevant information in investment decision-making. Practical implication: This study provides implications for energy sector companies and regulators, particularly the Financial Services Authority (OJK), to strengthen the quality and standardization of sustainability disclosures and to enhance the utilization of intellectual capital in supporting environmental management and long-term firm value creation.]]>
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