<![CDATA[Purpose – This study examines the effects of Carbon Management Accounting (CMA) and Financial Performance (FP) on Carbon Tax Policy Initiatives (CTPI) among energy companies listed on the Indonesia Stock Exchange during 2022–2024. Methods – A quantitative approach used secondary data from annual and sustainability reports. The sample comprised 36 energy firms and 108 firm-year observations. Panel regression employed the random-effects model, supported by robustness tests and additional analysis of CTPI development. Findings – CMA has a positive and significant association with CTPI (β = 0.5875, p < 0.0000), whereas FP, proxied by Return on Assets (ROA), has no significant effect (β = −0.1689, p = 0.0709). CMA remains positive across alternative covariance specifications. Mean CTPI increased from 0.8330 in 2022 to 0.9310 in 2024. Research Implications – Strengthening carbon management accounting capabilities may help firms develop carbon-related strategic responses in an evolving carbon-pricing environment. Regulators may strengthen carbon accounting guidance and carbon-information systems. Originality – This study links internal carbon management capability with observable corporate responses to an emerging carbon-pricing environment, providing evidence from Indonesian energy companies.]]>
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