The Quality of Sustainability Reporting in the Property and Real Estate Sector Listed on the Indonesian Stock Exchange From 2020 To 2024

Reny Ernitasari; Mukhzarudfa; Ratih Kusumastuti; Wiwik Tiswiyanti

doi:10.59890/ijma.v4i2.410

Authors

Reny Ernitasari Universitas Jambi
Mukhzarudfa Universitas Jambi
Ratih Kusumastuti Universitas Jambi
Wiwik Tiswiyanti Universitas Jambi

DOI:

https://doi.org/10.59890/ijma.v4i2.410

Keywords:

Sustainability Reporting, ESG, Real Estate Sector, IDX, GRI, Institutional Theory.

Abstract

This study aims to analyze the quality of sustainability reporting in the property and real estate sector listed on the Indonesia Stock Exchange (IDX) for the 2020–2024 period. Based on institutional theory, this study examines whether coercive, mimetic, and normative pressures influence the quality of ESG (Environmental, Social, Governance) disclosures by property companies. Using content analysis of the sustainability reports of eight IDX-listed property companies, this study measures the ESG disclosure index based on GRI (Global Reporting Initiative) standards, comprising a total of 114 indicators: 31 environmental indicators, 35 social indicators, and 48 governance indicators. Disclosure scores are classified into four quality categories based on IDX/Sustainalytics guidelines. The quality of ESG reporting in the real estate sector remains varied. The governance dimension shows the highest level of disclosure, followed by the environmental and social dimensions. Bumi Serpong Damai Tbk (BSDE) and Adhi Commuter Properti Tbk (ADCP) demonstrate the greatest improvement in quality.

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