Green Accounting, Environmental Performance, and Green Intellectual Capital on Financial Performance with GCG Moderation

Abstract

This study aims to analyze the influence of green accounting, environmental performance, and Green Intellectual Capital (GIC) on financial performance, with good corporate governance (GCG) as a moderating variable. The research method employed is a literature review, focusing on academic works published last five years. The findings indicate that green accounting enhances reporting transparency and cost-efficiency, while environmental performance provides social legitimacy and increases investor attractiveness. GIC contributes to innovation and sustainable competitiveness, although its effect is not always consistent without the support of GCG. GCG significantly strengthens the relationship between sustainability practices and financial performance by ensuring transparency, accountability, and integrity in implementation. These results emphasize that sustainability and governance cannot be separated, particularly in Indonesia where implementation gaps, compliance costs, and greenwashing risks remain challenges. This study contributes academically by enriching sustainability and governance literature, while offering practical implications for managers and policymakers in designing effective sustainability strategies.