<![CDATA[The coal industry faces increasing pressure to implement Environmental, Social, and Governance (ESG) principles amid fluctuations in financial performance and growing sustainability demands. However, the relationship between ESG practices and financial performance remains inconsistent, including the role of corporate reputation as a moderating factor. This study aims to examine the effects of Corporate Social Responsibility (CSR), environmental performance, and corporate governance on financial performance, as well as to analyze the moderating role of corporate reputation in coal production subsector companies listed on the Indonesia Stock Exchange during the 2022–2025 period. This study employs a quantitative approach using secondary data obtained from annual reports and sustainability reports. The sample was selected using a purposive sampling technique, resulting in 12 companies with 48 observations. Data analysis was conducted using panel data regression and Moderated Regression Analysis (MRA). The results indicate that CSR has no significant effect on ROA, ROE, and NPM. Environmental performance has no significant effect on ROA and ROE but has a negative and significant effect on NPM. Managerial ownership has a positive effect on ROA, while board of commissioners size has no significant effect on financial performance. Furthermore, corporate reputation has not been proven to moderate the effects of CSR, environmental performance, and corporate governance on financial performance. These findings indicate that sustainability practices and corporate governance mechanisms have not consistently translated into improved profitability for coal production subsector companies during the research period.]]>
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