Evaluasi Implementasi Sustainability Reporting sebagai Strategi Manajemen Keuangan Berkelanjutan pada Perusahaan Publik

Authors

Suwandi Ng Universitas Atma Jaya Makassar

DOI:

Keywords:

Pelaporan keberlanjutan; Manajemen keuangan berkelanjutan; ESG; Assurance; ISSB/GRI; Biaya modal; Manajemen risiko; Nilai jangka panjang

Abstract

Artikel ini mengevaluasi implementasi sustainability reporting (SR) sebagai strategi manajemen keuangan berkelanjutan pada perusahaan publik dengan mensintesis literatur periode 2020–2025. Kami menelaah bagaimana kerangka SR (mis. GRI, SASB, ISSB), praktik assurance, dan tata kelola data membentuk tiga luaran: biaya modal, pengelolaan risiko, dan penciptaan nilai jangka panjang. Telaah ini menunjukkan bukti bahwa SR berkualitas tinggi dan berguna bagi pengambilan keputusan berkaitan dengan friksi pendanaan lebih rendah, akses lebih baik ke pembiayaan hijau, serta meningkatnya kepercayaan pemangku kepentingan. Mekanismenya meliputi transparansi lebih baik, pengendalian internal atas data non-keuangan, dan integrasi metrik ESG ke dalam perencanaan serta alokasi modal. Namun, dampak tersebut bergantung pada moderator kontekstual seperti paparan industri terhadap risiko transisi dan fisik, tekanan regulasi, dan pengawasan dewan. Kami juga merangkum kendala implementasi—metrik terfragmentasi, narasi generik, dan assurance lemah—yang mengurangi keterbandingan dan kredibilitas. Artikel ini menawarkan peta jalan berbasis kapabilitas yang menautkan SR dengan sistem manajemen: pemetaan materialitas, kepemilikan lintas fungsi, audit internal data ESG, analisis skenario, dan penyelarasan insentif. Kesimpulannya, SR mendukung manajemen keuangan berkelanjutan ketika diperlakukan sebagai sistem informasi perusahaan—tertanam dalam strategi, risiko, dan manajemen kinerja—bukan sekadar latihan pengungkapan.

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