The Triple Bottom Line: Prioritizing CSR, Human Capital, and GHG Reduction for Sustainable Economic Growth in Indonesia
Sri Dwiningsih (a*), Anwar Sanusi (b), Edi Subiyantoro (b)

a) University of Merdeka Malang, Jln Terusan Dieng No. 62-64 Klojen, Pisang Candi, Kec. Sukun, Kota Malang, Jawa Timur, Indonesia
*unmer.ac.id
b) Doctoral program in economic University of Merdeka Malang, Indonesia

Abstract

Our study, which covered the years 2008 to 2022, aimed to create ^autoregressive vectors^ to investigate the interrelationships between Corporate Social Responsibility, Greenhouse Gas net, Human Capital, Human Resource in Indonesia. We used data from the World Bank, OECD and Bank Republic Indonesia, we also conducted an analysis to explore the correlation between these variables. Our results showed that there are significant relationships between Corporate Governance Self-Assessment (CGS), Greenhouse Gas net (GHG), and Human Capital (HCPT) in Indonesia. The positive correlation between GHG and CGS suggests that as GHG emissions increase, the level of corporate governance self-assessment also increases. This finding implies that companies that prioritize reducing GHG emissions tend to have better corporate governance practices. Moreover, investing in reducing GHG emissions can have a positive impact on human capital development in Indonesia. However, the negative correlation between HCPT and CGS implies that an increase in human capital may result in a decrease in the level of corporate governance self-assessment. This finding highlights the importance of balancing investments in human capital with maintaining good corporate governance practices to ensure sustainable economic growth. Furthermore, promoting Corporate Social Responsibility (CSR) can enhance companies^ reputation and increase their brand value, which can positively impact their CGS. Therefore, it is essential for companies to prioritize CSR practices, invest in human capital development, and reduce GHG emissions to ensure sustainable economic growth and maintain good corporate governance practices in Indonesia.

Keywords: Corporate Social Responsibility, Greenhouse Gas net, Human Capital, Human Resource, Indonesia.

Topic: Green Management and Business