An Assessment of Sustainability Disclosures in Oil and Gas Listed Companies in Nigeria
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The paper aims to evaluate the extent of sustainability disclosure in the annual report’s oil and gas industries. The study retrieves secondary data on
sustainability disclosure for 10 years (2010 - 2019) from eight oil and gas industries listed in the Nigerian stock exchange through a desktop approach
and content analysis methodology. Content analysis of the sustainability disclosure is to identify items of sustainability disclosed in the annual reports.
The paper assesses the extent of disclosure by adopting the global reporting initiative’s scoring index. Findings from the analysis indicate a very lowlevel
climate change and environmental pollution disclosure. Only 13.8% of the companies disclosed their impact on climate change and environmental
pollution. On the contrary, all the companies revealed their community investment, which this paper regards as legitimizing smokescreen ecological
pollution. The paper contributes to the literature by connecting the legitimacy theory to the decoying sustainability disclosure of oil and gas companies
in Nigeria. In conclusion, the study recommends more stringent sustainability disclosure policies for the oil and gas to provide more information for
environmental and climate change advocates and investors in censuring the companies, which might instill improved environmental compliance.
Keywords
HB Economic Theory, HF5601 Accounting