The Role of NGOs, Media, and Customers in Driving Alignment and Accountability in CSR and ESG Reporting ^†

The credibility and effectiveness of Corporate Social Responsibility (CSR) and Environmental, Social, and Governance (ESG) reporting are increasingly influenced by key stakeholders: customers, non-governmental organizations (NGOs), and media. This study investigates how stakeholder engagement drives greater accountability and transparency in corporate sustainability practices, particularly in the Indonesian context.

The research was conducted using a quantitative survey method involving 41 board directors and senior managers from companies listed on the Indonesia Stock Exchange. This community was purposefully selected due to its strategic role in shaping ESG initiatives and practices within a rapidly evolving sustainability landscape in Indonesia.

Findings reveal that customer engagement emphasizes two-way communication, trust-building, and participatory branding. NGOs co-create shared values and promote ethical alignment, while media fosters public scrutiny and amplifies transparency through open communication channels. These interactions demonstrate how stakeholder influence can transition ESG reporting from a compliance-driven exercise to a participatory and impact-oriented framework.

Grounded in stakeholder theory, this study contributes to CSR and ESG research by offering empirical insights on how inclusive engagement strategies enhance the integrity, relevance, and societal value of corporate sustainability disclosures.