Impact of Board Attributes on Environmental Reporting of Listed Consumer Goods Firms in Nigeria

Abstract

This study examined how board attributes affect the environmental reporting of consumer goods companies listed in Nigerian Exchange Group. The study uses ex-post facto research design, the study's population consists of all 21 consumer goods companies that were listed as of December 31, 2024. The study used purposive sampling technique to arrive at a sample of 13 companies. The study's data were obtained from the annual reports and accounts of the sample companies, as well as their independent sustainability and environmental reports. The study data were analyzed using multiple regression. The study findings reveal that the environmental reporting of sampled companies is positively and significantly impacted by board independence, gender diversity, and nationality. While board meetings attendance and broad expertise have negative insignificant impact on environmental reporting. The study concludes that board characteristics have significant impact on the environmental reporting of listed Nigerian consumer goods companies. The study suggests that listed Nigerian consumer goods companies should increase number of non-executive directors, gender diversity and directors with foreign origin or international expertise on their boards in order improve board independence, cross cultural and international presence. Corporate governance laws should be updated by regulators and policymakers to consider the changing objectives of ESG.