LEVEL OF CARBON EMISSION DISCLOSURE OF QUOTED NIGERIAN FINANCIAL SERVICES FIRMS
Keywords:
Carbon Emission Disclosure, Financial Performance, Financial Service Companies, NigeriaAbstract
This study examines level of carbon emission disclosure of quoted Nigerian financial services firm for the years 2015 to 2020.Descriptive analysis used charts and graphical illustrations to illustrate the average return on equity and sales across the various dimensions of carbon emission disclosure of the quoted Nigerian financial services companies. The study employed ex-post facto research design and secondary data from the annual report of quoted Nigerian financial services companies. The population was the 50 quoted financial service companies; however, 38 companies with complete financial statements from 2015-2020 on the Nigerian Exchange Group (NGX) were used for the analysis.Findings showed that 40% of quoted Nigerian financial services companies disclosed carbon emission. 59.65% did not disclose any form of carbon emission, 1.32% disclose at least one form, 4.39% disclose two forms of carbon emission, and 34.65% disclosed all three forms of carbon emission. In conclusion, this study states that quoted Nigerian financial services companies that disclose carbon-related matters typically receive financial rewards consistent with signaling theory. The consequence of climate change and disclosure of carbon-related matters is progressively becoming legitimatized.
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Copyright (c) 2023 Yinka Lydia EMMANUEL, Olayinka ADENIKINJU, Adegbola Olubukola OTEKUNRIN, Peace Ebunoluwa KOLAWOLE, Inioluwa Iyanuoluwa Amu, James AKINBODE (Author)
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