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The Impact of Sustainability Disclosure on Firm Value in the Energy Sector of BRICS Economies: The Holistic Approach of GRI Guidelines

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  • Farhan Hussain
  • Zhifang Zhou
  • Hussain Abbas
  • Didier Robert Dusengemungu

Abstract

Sustainability disclosure is a key concern for the corporate sector in terms of safeguarding nature and preserving long‐term trust. This research investigates the impact of 20 comprehensive sustainability dimensions on the performance of energy firms in BRICS economies. The data were collected through content analysis, guided by the Global Reporting Initiative (GRI) farmwork, and analysis with the generalized method of moments (GMM) to ensure robustness. The findings show a significant relationship between environmental disclosure and firm value. Furthermore, the study highlights the importance of social and economic disclosures in developing economies driven by industry‐specific challenges, climate risks, and stakeholder demands. In addition, companies with high sustainability disclosure enhance legitimacy by gaining advantages from effective management and governmental support. BRICS governments and corporations promote sustainability through impactful interventions aligned with GRI guidelines.

Suggested Citation

  • Farhan Hussain & Zhifang Zhou & Hussain Abbas & Didier Robert Dusengemungu, 2025. "The Impact of Sustainability Disclosure on Firm Value in the Energy Sector of BRICS Economies: The Holistic Approach of GRI Guidelines," Sustainable Development, John Wiley & Sons, Ltd., vol. 33(4), pages 4960-4975, August.
    • Handle: RePEc:wly:sustdv:v:33:y:2025:i:4:p:4960-4975
    DOI: 10.1002/sd.3388
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