The Role Of The Board Of Directors’Gender Diversity Moderation In The Relationship Between Carbon Emissions And Esg Performance

This study examines the relationship between corporate carbon
emissions and environmental, social, and governance (ESG)
performance while evaluating the moderating influence of board
gender diversity within Indonesia’s regulatory environment.
Drawing on resource dependence theory (RDT), the analysis
positions board composition as a strategic governance mechanism
through which firms secure essential resources, including
stakeholder legitimacy, environmental expertise, and enhanced
oversight, to respond to sustainability pressures. Using panel data
from publicly listed firms between 2014 and 2024 and employing
fixed effects and lagged regression models, the findings show
a positive association between carbon emissions and subsequent
ESG performance, indicating that firms with higher environmental
exposure tend to strengthen their sustainability disclosures.
Although board gender diversity does not directly affect ESG
outcomes, it reinforces governance structures that enable more
transparent and accountable environmental practices. The study
highlights limitations within Indonesia’s compliance-oriented ESG
framework and underscores the need for governance-focused
reforms to improve the credibility and effectiveness of
sustainability reporting.