<![CDATA[This study sets out to examine how environmental costs and profitability affect firm value, with sustainability reporting tested as a moderating factor, among energy-sector firms listed on the Indonesia Stock Exchange between 2020 and 2024. A quantitative, explanatory research design was applied using secondary data. Out of 66 energy-sector firms forming the population, 16 firms met the sampling criteria through a purposive sampling procedure, producing 80 firm-year observations across the five-year span. Panel data regression combined with Moderated Regression Analysis (MRA) in EViews 12 was used for the analysis. Findings indicate that environmental costs carry no significant effect on firm value, whereas profitability does show a significant effect. Sustainability reporting itself significantly affects firm value, and it succeeds in moderating the link between environmental costs and firm value, although it fails to moderate the link between profitability and firm value.]]>
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