CEO Characteristics, Sustainability Committee, and Carbon Emission Disclosure: New Evidence From Energy Industries Across ASEAN Countries

Abstract

This research examines the connection between characteristics of CEOs, sustainability committees, and carbon emissions. This study utilized data from 766 firm-year observations from 161 companies in the energy sector in ASEAN listed on the stock exchange markets during the observation years of 2018–2022. The data were then analyzed using panel data fixed-effect models. This study found that companies led by young and long-serving CEOs tended to disclose more carbon emission information. In addition, the presence of sustainability committees could improve carbon emission disclosure in the companies. Meanwhile, the nationality and educational level of CEOs did not influence carbon emission disclosure. These findings will be of interest to decision-makers when selecting CEOs and establishing sustainability committees as a proactive mechanism to address climate change issues and improve corporate carbon disclosure. To the best of the authors' knowledge, this study is among the first to provide empirical evidence on the influence of CEO characteristics and sustainability committees on carbon disclosure, focusing on the energy sector, which is a major contributor to carbon emissions in ASEAN countries.