CARBON ACCOUNTING AND ESG-ORIENTED FINANCIAL DISCLOSURE FIRMS IN INDONESIA: A SYSTEMATIC LITERATURE REVIEW AND BIBLIOMETRIC ANALYSIS

Abstract

With the increasing urgency of global sustainability, carbon accounting practices have become crucial in enhancing the quality of ESG (Environmental, Social, and Governance)-based information disclosure. This article aims to systematically examine the relationship between carbon accounting, ESG disclosure, and firm value in Indonesia. Using a Systematic Literature Review (SLR) approach and bibliometric analysis of 50 scholarly articles from 2015 to 2025, this study identifies that the effective implementation of carbon accounting can enhance the quality of ESG disclosure and positively impact firm value. Furthermore, ESG disclosure is proven to act as a mediator that strengthens the relationship between carbon accounting and firm value. This study contributes theoretically by constructing a conceptual framework based on legitimacy theory, stakeholder theory, and signaling theory, as well as providing practical contributions for strengthening sustainability policies and reporting in Indonesia.