Pragmatic Study of ESG Concepts Practice (Case Study of PT Kaltim Industrial Estate)

This research aims to reveal the in-depth meaning of the implementation of the ESG concept in business models and the impact of ESG performance on PT KIE's sustainability report. This research is qualitative research with an interpretive approach. The informants in this research are accountants and management at PT KIE. The triangulation method used in this research is source triangulation. The research findings are that the implementation of the ESG concept at PT KIE is not an instruction from its holding company but the initiation of management and directors. There is an internalization of environmental, social and governance based on the conceptual framework of institutional theory and legitimacy theory. The Impact of ESG performance disclosure for the company is the importance of reputation in the public or society and the belief that it will have a positive effect the company's profits and mitigation risk for long-term business continuity supported by various stakeholders. The implication of this research is that the implementation of the ESG concept in corporate sustainability reporting will encourage the company towards a sustainable business model that provides support for the development of management accounting and sustainability accounting