The Quality of Sustainability Reporting in Non-Primary Consumer Sector Companies Listed on the Indonesia Stock Exchange (2020–2024)

Abstract

This study aims to analyze the quality of sustainability reporting among non-primary consumer sector companies listed on the Indonesia Stock Exchange (IDX) during the 2020–2024 period, focusing on variations in disclosure levels across firms.

This study adopts a quantitative approach using the Global Reporting Initiative (GRI) Standards 2021 framework. It evaluates disclosure across environmental (GRI 301–308), social (GRI 401–418), and governance (GRI 2) dimensions. The sample consists of 32 companies with 160 firm-year observations.

The results indicate that the governance dimension records the highest average disclosure rate (55.8%), followed by environmental (39.4%) and social (37.5%). Larger firms with high environmental exposure, such as palm oil and multinational FMCG companies, exhibit significantly higher disclosure levels. A consistent upward trend in disclosure is observed from 2020 to 2024.

This study is limited to a single sector and relies on secondary data, which may affect generalizability. However, it offers insights into sustainability reporting practices in emerging markets.

The findings provide important implications for regulators, investors, and practitioners in improving transparency and accountability.

This study contributes by applying the updated GRI Standards 2021 and presenting recent empirical evidence on sustainability disclosure trends in Indonesia