Our study, which covered the years 2008 to 2022, aimed to create “autoregressive vectors” to investigate the interrelationships between corporate social responsibility (CSR), greenhouse gas net (GHG), human capital (HCPT), and human resources in Indonesia. We used data from the World Bank, OECD, and Bank Republic Indonesia to conduct an analysis of the correlation between these variables. Our results showed that there are significant relationships between corporate governance self-assessment (CGS), GHG, and HCPT in Indonesia. The positive correlation between GHG and CGS suggests that as GHG emissions increase, the level of corporate governance self-assessment also increases. This finding implies that companies that prioritize reducing GHG emissions tend to have better corporate governance practices. Moreover, investing in reducing GHG emissions can have a positive impact on human capital development. However, the negative correlation between HCPT and CGS implies that an increase in human capital may result in a decrease in the level of corporate governance self-assessment. This finding highlights the importance of balancing investments in human capital with maintaining good corporate governance practices to ensure sustainable economic growth. Furthermore, promoting corporate social responsibility can enhance companies’ reputation and increase their brand value, which can positively impact their CGS. Therefore, it is essential for companies to prioritize CSR practices, invest in human capital development, and reduce GHG emissions to ensure sustainable economic growth and maintain good corporate governance practices in Indonesia.
Keywords: corporate social responsibility, greenhouse gas net, human capital
