Analysis of Sustainability Reporting Practices: A Comparative Case Study of Developed and Developing Countries
Keywords:
Developed Countries, Developing Countries, ESG, Literature Study, Sustainability ReportingAbstract
This research is motivated by differences in sustainability reporting practices between developed and developing countries, particularly regarding the depth of disclosure, standards used, and reporting orientation. The objective of this study is to analyze and compare sustainability reporting practices in companies in developed and developing countries, using legitimacy and stakeholder theories as a foundation. The research method used is a literature review with a descriptive analysis approach, analyzing the 2023–2024 sustainability reports of four companies: Newmont Corporation (United States), Sumitomo Metal Mining (Japan), Hindustan Petroleum Corporation Limited (India), and PT Aneka Tambang Tbk (Indonesia). The results show that companies in developed countries have made sustainability reporting an integral part of strategic and transparent corporate governance, while companies in developing countries still focus on regulatory compliance and social responsibility. These findings confirm that social legitimacy and stakeholder pressure play a significant role in shaping the quality of sustainability reporting. The implications of this research are the need for harmonization of global standards and increased capacity and awareness of companies in developing countries to bring sustainability reporting practices more in line with international standards.
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