Beyond Profit: Analyzing the Quality of GRI Standards-Based Sustainability Report Disclosures in the Indonesian Banking Sector in 2024

Abstract

This study analyzes the quality of sustainability report disclosures based on GRI Standards in the Indonesian banking sector for the year 2024. Using a quantitative descriptive approach with content analysis, this study examines 40 commercial banks registered with OJK that published sustainability reports in 2024. Data were collected from sustainability reports and analyzed using GRI Universal Standards 2021 (GRI 1, 2, 3; Economic Series 200, Environmental 300, Social 400). A scoring index of 0–100% was applied, supported by one-way ANOVA and multiple linear regression analysis. Results show that the average GRI disclosure quality score is 64.72% (moderate category). General Disclosures reached the highest score at 78.45%, while Environmental Standards scored the lowest at 52.35%. State-owned banks (BUMN) significantly outperformed private banks (72.35% vs. 62.18%; ANOVA F=5.823, p=0.006). Regression analysis confirms that bank size, profitability (ROA), and reporting experience significantly influence disclosure quality (R²=68.4%). These findings verify Stakeholder Theory, Legitimacy Theory, and Signaling Theory in the Indonesian banking context, providing empirical evidence supporting the beyond profit paradigm.