Impact of Board Gender Diversity, Environment, Social, and Governance (ESG) & Green Committee Toward Carbon Emission Performance with Media Exposure as Moderation

Abstrak

This study aims to examine the effect of Board Gender Diversity (BGD), Environmental, Social, and Governance (ESG), and Green Committee on Carbon Emission Performance (CEP), as well as the moderating role of media exposure. The research objects consist of consumer goods, energy, and raw materials companies listed on the Indonesia Stock Exchange (IDX) during the 2020–2024 period. The sample was selected using purposive sampling, resulting in 39 companies with 195 firm-year observations. This study employs a quantitative approach using panel data regression and Moderated Regression Analysis (MRA). The Hausman test indicates that the Random Effect Model is the most appropriate estimation model. The findings reveal that ESG has a positive and significant effect on carbon emission performance. In contrast, board gender diversity and the existence of a green committee do not significantly affect CEP. Furthermore, media exposure does not moderate the relationship between BGD and CEP, nor between ESG and CEP. However, media exposure strengthens the effect of the green committee on carbon emission performance. These results suggest that ESG implementation plays a crucial role in improving corporate carbon emission reduction performance, while the effectiveness of a green committee becomes more substantial when supported by adequate media exposure.