Environmental Cost Disclosures and Sustainability Performance of Listed Oil and Gas Firms in Nigeria: Does Green Innovation Matter? (Published)
This study explores the moderating role of green innovation on the connection between environmental cost disclosures and the sustainability performance of listed oil and gas firms in Nigeria. The population comprised all listed oil and gas firms in Nigeria, and a non-probability sampling technique of convenience was used to determine 150 participants with primary data as the major instrument of data collection from a structured questionnaire. The administered questionnaires were analysed using descriptive and inferential statistics. The regression analysis reveals that compliance and regulatory cost disclosure has no significant effect on the social performance, that pollution control and abatement cost disclosure has a significant effect on the social performance, resource use and conservation cost disclosure has a significant effect on the social performance and remediation and restoration cost has significant effect on the social performance of listed oil and gas firms in Nigeria. Also, the findings disclose that compliance and regulatory cost disclosure has a significant effect on economic performance, pollution control and abatement cost disclosure has a significant effect on economic performance, resource use and conservation cost disclosure has a significant effect on economic performance and remediation and restoration cost has a significant effect on the economic performance of listed oil and gas firms in Nigeria. Additionally, the findings reveal that green innovation does significantly moderate the relationship between environmental cost disclosures on social and economic performance of listed oil and gas firms in Nigeria. In conclusion, the study underscores that green innovation acts as a strategic enabler, strengthening the link between environmental accountability and sustainable performance. Therefore, oil and gas firms in Nigeria should not only comply with environmental reporting requirements but also embed innovation into their operational and strategic frameworks.
Keywords: Nigeria, environmental cost disclosure, green innovation, oil and gas firms, sustainability performance