INTEGRASI PRINSIP ENVIRONMENTAL, SOCIAL AND GOVERNANCE (ESG) ATAS PRAKTIK KEBERLANJUTAN DALAM PENGELOLAAN BISNIS REAL ESTATE
DOI:
https://doi.org/10.22225/kr.16.2.2025.226-241Keywords:
sustainability, sustainability practices, ESG principles, real estate industryAbstract
Sustainability practices have become a global issue, yet many companies remain vulnerable in implementing ESG (Environmental, Social, and Governance) sustainability in their business lines. This study aims to provide a deeper understanding of the issues and identify (1) the background behind PT PSS management’s choice of a sustainable concept in business management, (2) the implementation of sustainability practices in business management, and (3) the alignment of the implementation of sustainability practices in business management at PT PSS with ESG principles. The method used in this study is a qualitative approach with a case study of PT PSS, employing an interpretive paradigm. The results show that (1) the background for PT PSS management’s choice of a sustainability concept is based on the company’s internal awareness, the influence of stakeholders, regulatory compliance, and business strategies aimed at enhancing company value, (2) the sustainability practices implemented by PT PSS in business management, from planning to maintenance, have been integrated with environmental, social, and governance initiatives, and (3) PT PSS has met ESG criteria and is in accordance with the ten ESG standards issued by the Ministry of Finance of the Republic of Indonesia. The implications of this study reveal the positive impacts received by PT PSS, the environment, and the community through the application of sustainability practices, and it is hoped that companies in Indonesia will start to integrate ESG principles into their business operations.
References
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Mellahi, K., J. G. Frynas, P. Sun, & D. Siegal. (2016). A Review Of Nonmarket Strategy Literature: Toward A Multi-Theoretical Integration. Journal of Management 42. 143–173.
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Pranesti, A., Larasati, K. S., & Widiyanti, A. (2022). Kinerja Keterlanjutan dan Nilai Perusahaan: Sebuah Kajian Teoritis. Jurnal Ilmiah Universitas Batanghari Jambi, 22(3), 1624.
Qutoshi, S. B. (2018). Phenomenology: A Philosophy and Method of Inquiry. Journal of Education and Educational Developement Discussion , 5(1), 215–222.
Ramadhani, R., Rasyid, E. R., & Fontanella, A. (2021). Motivasi Pengungkapan Tanggung Jawab Sosial dan Lingkungan. Jurnal Akuntansi Kompetif, 4(2), 105–117.
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Sari, P. N., & Khomsiyah. (2023). Keberlanjutan, Konsep Ekonomi Sebagai Filosofi Kehidupan. Jurnal Kajian Ilmiah, 23(2), 177–184.
Shen, H., Lin, H., Han, W., & Wu, H. (2023). ESG in China: A review of practice and research, and future research avenues. China Journal of Accounting Research, 16(4), 1–25.
Sibarani, S. (2023). ESG (Environmental, Social, and Governance) Implementation to Strengthen Business Sustainability Pt. Migas–North Field. European Journal of Business and Management Research, 8(1), 147–150.
Soesanto, S. (2022). Akuntansi Lingkungan Menuju Ekonomi Hijau Perspektif Relasi Natural Suistanibility Dengan Keberlanjutan Bisnis. Account, 9(1), 1581–1589.
Sugiyono. (2019). Metode Penelitian Kuantitatif Kualitatif dan R&D. Penerbit Alfabeta.
Tenriwaru, U Syamsiah, N., & Ikhtiari, K. (2022). Conceptualization Of Environmental Tourism In Green Accounting Perspective (Case Study Of Bantimurung National Park). Economos: Jurnal Ekonomi Dan Bisnis, 5(1), 8–17.
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Warren, C., & Wardana, A. (2018). Sustaining the unsustainable? Environmental impact assessment and overdevelopment in Bali Related papers Sustaining the unsustainable? Environmental impact assessment and overdevelopment in Bali *.
Wella, S. F., & Chairy, C. (2020). Implementasi Sustainability Sebagai Alat Pemasaran Pada Era Pandemi Covid-19. Jurnal Muara Ilmu Ekonomi Dan Bisnis, 4(2), 343.
Wicaksono, A. P., Amelia, R. W., Zulvina, D., & Rachmadani, W. S. (2021). Membangung Citra Positif Perusahaan Melalui Pengungkapan Lingkungan. Jurnal Akuntansi Multiparadigma, 12(1), 27–45.
Wirastuti, D. N. S., Atmadja, A. T., & Pradana, I. M. (2021). Value Relevance of Sustainability Report and Its Impact on Value of Companies. Advance in Economics, Business and Management Research, 197(6), 257–267.
Yusoff, H., Lehman, G., & Mohd Nasir, N. (2006). Environmental engagements through the lens of disclosure practices: A Malaysian story. Asian Review of Accounting, 14(1–2), 122–148
Alfansyur, A., & Mariyani. (2020). Seni Mengelola Data: Penerapan Triangulasi Teknik,Sumber Dan Waktu Pada Penelitian Pendidikan Sosial. HISTORIS?: Jurnal Kajian, Penelitian & Pengembangan Pendidikan Sejarah, 5(2), 146–150.
Alijoyo, A. (2019). Standar ESG Environmental Social Governance (ESG) Agenda Prioritas Direksi dan Dewan Komisaris. governansi.org/2019/07/25/environmental-social-governance-esg-agenda-prioritas-direksi-dan-dewan-komisaris/ diakses pada tanggal 16 Januari 2023
Antwi, S. K., & Hamza, K. (2015). Qualitative and Quantitative Research Paradigms in Business Research: A Philosophical Reflection. European Journal of Business and Management, 7(3), 217–225.
Atmadja, A. Tu. (2013). Pergulatan Metodologi dan Penelitian Kualitatif Dalam Ranah Ilmu Akuntansi. Jurnal Akuntansi Profesi, 3(2), 122–141.
Azmi, W., Hassan, M. K., Houston, R., & Karim, M. S. (2021). ESG activities and banking performance: International evidence from emerging economies. Journal of International Financial Markets, Institutions and Money, 70.
Bae, J. H. (2022). Developing ESG Evaluation Guidelines for the Tourism Sector: With a Focus on the Hotel Industry. Sustainability (Switzerland), 14(24).
Berle, A., & G. Means. (1932). The Modern Corporation and Private Property (Harcourt, Brace and World, New York).
Chladek, N. (2021). Why You Need Sustainability in Your Business Strategy.
Damayanti, A., & Hardiningsih, P. (2021). Determinan Pengungkapan Laporan Berkelanjutan. Jurnal Akuntansi Dan Pajak, 22(1), 175.
Dewi, N. P. S., Sujana, I. N., & Astara, I. W. W. (2021). Implementation of Regional Regulation of Tabanan Regency Number 11 of 2018 Concerning Tourism Village Related to Increasing Investment Interest in Tabanan Regency. Jurnal Hukum Prasada, 8(2), 116–121.
Dobbs, S., & van Staden, C. (2016). Motivations for corporate social and environmental reporting: New Zealand evidence. Sustainability Accounting, Management and Policy Journal, 7(3), 449–472.
Esty, D. C., & Cort, T. (2020). Values at Work Sustainable Investing and ESG Reporting. Springer Nature.
Fernando, S., & S. Lawrence. (2014). A Theoretical Framework For CSR Practices: Integrating Legitimacy Theory, Stakeholder Theory And Institutional Theory. Journal of Theoretical Accounting Research 10. 149–178.
Frynas, J. G., & C. Yamahaki. (2016). Corporate Social Responsibility: Review And Roadmap Of Theoretical Perspectives. Business Ethics: A European Review 25. 258–285.
Giantari, I. G. A. K., & Sukaatmadja, I. P. G. (2021). Effects of environmental orientation, green marketing mix and social capital on the competitive advantage of real estate developers in Bali. Property Management, 39(2), 193–209.
GRI. (2015). Sustainability and Reporting Trends in 2025: Preparing for the Future. GRI: Amsterdam, The Netherlands.
Gusti, I., Agung, A., Dewi, O., Agung, G. A., & Dewi, P. (2017). Corporate Social Responsibility, Green Banking, and Going Concern on Banking Company in Indonesia Stock Exchange. 1(3), 2550–2701.
Haessler, P. (2020). Strategic decisions between short-term profit and sustainability. Administrative Sciences, 10(3).
Hao, S., Ren, C., & Zhang, L. (2022). Research on Performance Evaluation of Coal Enterprises
Hidayah, N. R., Susena, K. C., & Tarigan, H. P. (2023). Akuntansi Berkelanjutan: Implementasi Standar Pelaporan Keberlanjutan dalam Praktik Bisnis CV. Utami. Jurnal Ekombis Review, 11(2), 1859–1868.
Huang, Danny. (2021). An Integrated Theory Of The Firm Approach To Environmental, Social and Governance Performance. Accounting and Finance Association of Australia and New Zealand, 1-32.
Iona?cu, E., Mironiuc, M., Anghel, I., & Huian, M. C. (2020). The Involvement of Real Estate Companies in Sustainable Development-An Analysis from the SDGs Reporting Perspective. Sustainability (Switzerland), 12(3).
Kamayanti, A. (2021). Metodologi Penelitian Kualitatif Akuntansi: Pengantar Religiositas Keilmuan. Penerbit Peneleh.
Kementerian Keuangan Republik Indonesia. (2022). Kerangka Kerja Lingkungan, Sosial, dan Tata Kelola (LST) pada Dukungan dan Fasilitas Pemerintah untuk Pembiayaan Infrastruktur.
Kementrian Keuangan. (2020). SDGs, ESG dan Infrastruktur.
Kempeneer, S., Peeters, M., & Compernolle, T. (2021). Bringing The User Back In The Building: An Analysis of ESG in Real Estate and A Behavioral Framework to Guide Future Research. In Sustainability (Switzerland) (Vol. 13, Issue 6). MDPI AG.
Luo, L. (2019). The Influence of Institutional Contexts On The Relationship Between Voluntary Carbon Disclosure and Carbon Emission Performance. Accounting & Finance 59. 1235–1264.
Mellahi, K., J. G. Frynas, P. Sun, & D. Siegal. (2016). A Review Of Nonmarket Strategy Literature: Toward A Multi-Theoretical Integration. Journal of Management 42. 143–173.
Minh Hiep, P., Hoang Tien, N., Paul Dana, L., Rafal Kuc, B., Van Tien, N., Chi Minh City, H., & Vu Xuan Ha, V. (2021). Enhancing Social Responsibility and Sustainability in Real Estate Industry. Turkish Journal of Computer and Mathematics Education, 12(14), 4999–5013.
Moleong, L. J. (2017). Metodologi Penelitian Kualitatif (Edisi Revisi). PT Remaja Rosda Karya.
Muthmainnah, L., Mustansyir, R., & Tjahyadi, S. (2020). Meninjau Ulang Sustainable Development: Kajian Filosofis Atas Dilema Pengelolaan Lingkungan Hidup di Era Post Modern. Jurnal Filsafat, 30(1), 23–45.
Neuman, W. L. (2013). Metode Penelitian Sosial: Pendekatan Kualitatif dan Kuantitatif Edisi Ke Tujuh. PT. Indeks.
Pranesti, A., Larasati, K. S., & Widiyanti, A. (2022). Kinerja Keterlanjutan dan Nilai Perusahaan: Sebuah Kajian Teoritis. Jurnal Ilmiah Universitas Batanghari Jambi, 22(3), 1624.
Qutoshi, S. B. (2018). Phenomenology: A Philosophy and Method of Inquiry. Journal of Education and Educational Developement Discussion , 5(1), 215–222.
Ramadhani, R., Rasyid, E. R., & Fontanella, A. (2021). Motivasi Pengungkapan Tanggung Jawab Sosial dan Lingkungan. Jurnal Akuntansi Kompetif, 4(2), 105–117.
Romero, S.?; R. S.?; F.-F. B. (2018). Sustainability Reporting and Stakeholder Engagement in Spain: Different Instruments, Different Quality. Bus. Strategy Environ, 28, 221–232.
Sari, P. N., & Khomsiyah. (2023). Keberlanjutan, Konsep Ekonomi Sebagai Filosofi Kehidupan. Jurnal Kajian Ilmiah, 23(2), 177–184.
Shen, H., Lin, H., Han, W., & Wu, H. (2023). ESG in China: A review of practice and research, and future research avenues. China Journal of Accounting Research, 16(4), 1–25.
Sibarani, S. (2023). ESG (Environmental, Social, and Governance) Implementation to Strengthen Business Sustainability Pt. Migas–North Field. European Journal of Business and Management Research, 8(1), 147–150.
Soesanto, S. (2022). Akuntansi Lingkungan Menuju Ekonomi Hijau Perspektif Relasi Natural Suistanibility Dengan Keberlanjutan Bisnis. Account, 9(1), 1581–1589.
Sugiyono. (2019). Metode Penelitian Kuantitatif Kualitatif dan R&D. Penerbit Alfabeta.
Tenriwaru, U Syamsiah, N., & Ikhtiari, K. (2022). Conceptualization Of Environmental Tourism In Green Accounting Perspective (Case Study Of Bantimurung National Park). Economos: Jurnal Ekonomi Dan Bisnis, 5(1), 8–17.
The G20. (2022). G20 Bali Leaders’ Declaration, 15-16 November 2022.
Waas, T., Hugé, J., Verbruggen, A., & Wright, T. (2011). Sustainable development: A bird’s eye view. In Sustainability (Vol. 3, Issue 10, pp. 1637–1661).
Warren, C., & Wardana, A. (2018). Sustaining the unsustainable? Environmental impact assessment and overdevelopment in Bali Related papers Sustaining the unsustainable? Environmental impact assessment and overdevelopment in Bali *.
Wella, S. F., & Chairy, C. (2020). Implementasi Sustainability Sebagai Alat Pemasaran Pada Era Pandemi Covid-19. Jurnal Muara Ilmu Ekonomi Dan Bisnis, 4(2), 343.
Wicaksono, A. P., Amelia, R. W., Zulvina, D., & Rachmadani, W. S. (2021). Membangung Citra Positif Perusahaan Melalui Pengungkapan Lingkungan. Jurnal Akuntansi Multiparadigma, 12(1), 27–45.
Wirastuti, D. N. S., Atmadja, A. T., & Pradana, I. M. (2021). Value Relevance of Sustainability Report and Its Impact on Value of Companies. Advance in Economics, Business and Management Research, 197(6), 257–267.
Yusoff, H., Lehman, G., & Mohd Nasir, N. (2006). Environmental engagements through the lens of disclosure practices: A Malaysian story. Asian Review of Accounting, 14(1–2), 122–148
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Published
2025-01-15
How to Cite
Sanjaya, I. K. Y., Atmadja, A. T., & Darmawan, N. A. S. (2025). INTEGRASI PRINSIP ENVIRONMENTAL, SOCIAL AND GOVERNANCE (ESG) ATAS PRAKTIK KEBERLANJUTAN DALAM PENGELOLAAN BISNIS REAL ESTATE. KRISNA: Kumpulan Riset Akuntansi, 16(2), 226–241. https://doi.org/10.22225/kr.16.2.2025.226-241
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