Exploring Corporate Sustainability Reporting and the Potential of Greenwashing

S, Patricia Febrina Dwijayanti

doi:10.37034/infeb.v8i4.1497

Exploring Corporate Sustainability Reporting and the Potential of Greenwashing

S, Patricia Febrina Dwijayanti Universitas Katolik Widya Mandala Surabaya DOI: https://doi.org/10.37034/infeb.v8i4.1497 Keywords: Greenwashing, Sustainability Reporting, Social Media, Transparency, Accountability Abstract Companies are encouraged to disclose their sustainability performance to enhance corporate transparency and accountability. Sustainability reporting is not limited to formal sustainability reports but also extends to social media platforms. This study aims to explore corporate sustainability reporting on social media and the potential for greenwashing. A netnographic approach was employed, utilizing two online communities, Danone Indonesia and Greenpeace Indonesia, to address the research questions. The findings indicate that Danone Indonesia actively uses social media to report on its sustainability activities, with a primary focus on the food and health pillar. While this social media reporting has been well-received by the public and community members, the company still faces negative sentiment regarding its AQUA product line, stemming from allegations of greenwashing linked to claims of "purity" that are perceived as excessive. The public has also highlighted the issue of plastic packaging waste, a concern that has led to complaints against Fast-Moving Consumer Goods (FMCG) manufacturers like Danone Indonesia. Consequently, companies are expected to go beyond merely cultivating an image on social media; they must undertake concrete actions and packaging innovations, supported by synergy among the government, manufacturers, and consumers. Downloads Download data is not yet available. References Mishra, P., & Pandey, V. K. (2025). Triple Bottom Line and Environmental Sustainability: Evolution of Global ESG Research a Bibliometric Analysis. Environmental Sciences Europe, 37 (1). DOI: https://doi.org/10.1186/s12302-025-01184-9 . Susanto, T., & Yunita, K. (2023). Mengungkap Praktik Corporate Social Responsibility dalam Semiotika Akuntansi Lagu Petani Karya Iksan Skuter. Jurnal Neraca: Jurnal Pendidikan dan Ilmu Ekonomi Akuntansi, 7(1), 82–94. DOI: https://doi.org/10.31851/neraca.v7i1.12218 . Vukovic, D. B., Spitsin, V., Akerman, E., & Gammerschmidt, I. (2025). Triple Bottom Line, Sustainability, and Regional Development. Journal of Eurasian Studies, 16(1), 32–43. https://doi.org/10.1177/18793665231215802 . Priyanto, A. F., & Bandiyono, A. (2024). Dampak Greenwashing Terhadap Investasi Keberlanjutan Serta Peran Audit Sosial Dalam Implementasi Tanggung Jawab Sosial. Jurnal Akuntansi Dan Ekonomi, 9(3), 22–31. DOI: https://doi.org/10.29407/jae.v9i3.23254 . Hogarth, K., Lodhia, S., Kaur, A., & Stone, G. (2025). Social media usage for sustainability reporting: a study of the Top 50 Australian companies. Meditari Accountancy Research, 33(2), 588–632. DOI: https://doi.org/10.1108/MEDAR-02-2024-2358 . Sulemana, I., Cheng, L., Agyemang, A. O., Osei, A., & Nagriwum, T. M. (2025). Stakeholders and Sustainability Disclosure: Evidence from An Emerging Market. Sustainable Futures, 9(November 2024), 100445. DOI: https://doi.org/10.1016/j.sftr.2025.100445 . Tariq, A. (2025). Mandatory sustainability reporting and the disclosure-performance gap: insights from the EU directive. Meditari Accountancy Research, 33(7), 536–567. DOI: https://doi.org/10.1108/MEDAR-02-2025-2838 . Cepêda, C., Monteiro, A. P., & Aibar-Guzmán, B. (2025). Decoupling in Sustainability Reporting: A Systematic Literature Review. Corporate Social Responsibility and Environmental Management, 32(3), 2988–3007. DOI: https://doi.org/10.1002/csr.3114 . Zhang, K., Pan, Z., Janardhanan, M., & Patel, I. (2023). Relationship analysis between greenwashing and environmental performance. In Environment, Development and Sustainability (Vol. 25, Number 8). Springer Netherlands. DOI: https://doi.org/10.1007/s10668-022-02381-9 . Gupta, S., Nawaz, N., Tripathi, A., Muneer, S., & Ahmad, N. (2021). Using Social Media as a Medium for CSR Communication, to Induce Consumer Brand Relationship in the Banking Sector of a Developing Economy. Sustainability (Switzerland), 13, 1-16. DOI: https://doi.org/10.3390/su13073700 . Russo, S., Schimperna, F., Lombardi, R., & Ruggiero, P. (2025). Sustainability Performance and Social Media: An Explorative Analysis. Meditari Accountancy Research, 30(4), 1118–1140. DOI: https://doi.org/10.1108/MEDAR-03-2021-1227 . Oppong-Tawiah, D., & Webster, J. (2023). Corporate Sustainability Communication as Fake News: Firms’ Greenwashing on Twitter. Sustainability, 15(8), 6683. DOI: https://doi.org/10.3390/su15086683 . Utama, A. A. G. S., & Basuki, B. (2023). The exploration of corporate image sustainability: A Netnography study. ETNOSIA: Jurnal Etnografi Indonesia, 8(1), 174–196. DOI: https://doi.org/10.31947/etnosia.v8i1.26440 . Bosone, C., Cerchiello, P., & Kostiuk, Y. (2025). Not All that Glitters is Green: Empirical Evidence from the Eurostoxx600 on Stakeholders Perception of Greenwashing. International Journal of Data Science and Analytics, 20(3), 2951–2969. DOI: https://doi.org/10.1007/s41060-024-00641-7 . Mihaylova, I., & Blumer, A. (2025). Approaches for Detecting Greenwashing in Non-Financial Reporting: The Auditor’s Perspective. Journal of Financial Reporting and Accounting. DOI: https://doi.org/10.1108/JFRA-06-2024-0347 . Freshtriana, F., & Kim, S. S. (2025). The Effect of Greenwashing on Company Value. Owner, 9(1), 140–148. DOI: https://doi.org/10.33395/owner.v9i1.2511 . Gopakumar, S., & Dananjayan, M. P. (2025). Can Nature Sell Beauty? Historicising Cosmetic Advertising and its Modern Greenwashing Parallels. Journal of Historical Research in Marketing, 17(3–4), 212–248. DOI: https://doi.org/10.1108/JHRM-10-2024-0091 . Tu, J. C., Cui, Y., Liu, L., & Yang, C. (2024). Perceived Greenwashing and Its Impact on the Green Image of Brands. Sustainability (Switzerland), 16(20), 1–17. DOI: https://doi.org/10.3390/su16209009 . Savić, M., & Frfulanović, D. (2024). Greenwashing as a Marketing Strategy in the Fashion Industry. 7th International Scientific Conference Contemporary Trends and Innovations in Textile Industry – CT&ITI 2024 - Zbornik Radova, 530–540. DOI: https://doi.org/10.5937/CT_ITI24059S . Lee, M. T., & Raschke, R. L. (2023). Stakeholder Legitimacy in Firm Greening and Financial Performance: What About Greenwashing Temptations?. Journal of Business Research, 155(113393). DOI: https://doi.org/10.1016/j.jbusres.2022.113393 . Purnamasari, P., & Umiyati, I. (2024). Greenwashing and Financial Performance of Firms: The Moderating Role of Internal Audit Quality and Digital Technologies. Cogent Business and Management, 11(1). DOI: https://doi.org/10.1080/23311975.2024.2404236 . Setiawan, N., Utama, A. A. G. S., & Soewarno, N. (2025). Backpacker Umrah, is it protected? A netnography study. International Journal of Tourism Anthropology, 10(1), 1–23. DOI: https://doi.org/10.1504/IJTA.2025.148670 . Puspita, R. E., & Thaker, M. A. bin M. T. (2022). Netnography on Finance Research: The Case of Customer Blackmail in a Sharia Bank. Journal of Accounting and Strategic Finance, 5(1), 179–192. DOI: https://doi.org/10.33005/jasf.v5i1.299 . Gray, R., Kouhy, R., & Lavers, S. (1995). Corporate Social and Environmental Reporting. Accounting, Auditing & Accountability Journal, 8(2), 47–77. DOI: https://doi.org/10.1108/09513579510146996 . Taneja, S. S., Taneja, P. K., & Gupta, R. K. (2011). Researches in Corporate Social Responsibility: A Review of Shifting Focus, Paradigms, and Methodologies. Journal of Business Ethics, 101(3), 343–364. DOI: https://doi.org/10.1007/s10551-010-0732-6 . Braun, V., & Clarke, V. (2006). Using Thematic Analysis in Psychology. Qualitative Research in Psychology, 3(2), 77–101. DOI: https://doi.org/10.1191/1478088706qp063oa . Mućko, P. (2021). Sentiment Analysis of CSR Disclosures in Annual Reports of EU Companies. Procedia Computer Science, 192, 3351–3359. DOI: https://doi.org/10.1016/j.procs.2021.09.108 . Dicks, B. (2020). Multimodal Analysis. In P. Atkinson, S. Delamont, A. Cernat, J. W. Sakshaug, & R. A. Williams (Eds.), SAGE Research Methods Foundations. SAGE Publications Ltd. DOI: https://doi.org/10.4135/9781526421036831970 . Wang, F., Wang, F., Lin, Z., & Wang, F. (2025). There are no Restrictions on me: A Netnographic Approach to Amateur Subtitling from the Perspective of Translanguaging Amateur Subtitling from the Perspective of Translanguaging. International Journal of Multilingualism, 22(3), 1540–1558. DOI: https://doi.org/10.1080/14790718.2024.2377198 . Fu, Y., Wang, S., Wang, S., Chen, S., & Jiang, B. (2025). The Green Fog: The Negative Fallout of Greenwashing on Corporate Reputation. Social Responsibility Journal, 21(10), 2217–2232. DOI: https://doi.org/10.1108/SRJ-02-2025-0128 . Flammer, C. (2021). Corporate Green Bonds. Journal of Financial Economics, 142(2), 499–516. DOI: https://doi.org/10.1016/j.jfineco.2021.01.010 . Kishan, K., & Azhar, Z. (2025). Greenwashing in Sustainability Reporting: Evidence from Malaysia. Journal of Financial Reporting and Accounting, (August). DOI: https://doi.org/10.1108/JFRA-01-2025-0060 .	Download Published 2026-11-07 Issue Vol. 8, No. 4 (December 2026): Accepted Section Articles How to Cite Dwijayanti, S. P. F. (2026). Exploring Corporate Sustainability Reporting and the Potential of Greenwashing. Jurnal Informatika Ekonomi Bisnis, 8(4), 687-697. https://doi.org/10.37034/infeb.v8i4.1497 ACM ACS APA ABNT Chicago Harvard IEEE MLA Turabian Vancouver Download Citation Endnote/Zotero/Mendeley (RIS) BibTeX This work is licensed under a Creative Commons Attribution 4.0 International License.