Climate change has a negative impact not only on natural disasters such as floods, droughts, landslides, and erosion, but it also threatens food security (Sumastuti, 2015). According to (Huisingh et al., 2015), global climate change poses a substantial challenge to human sustainability. According to the FAO, by 2050, global food production will be severely harmed, with widespread famine expected (Source Title, n.d.).

Indonesia, as the world's largest archipelagic nation, is certainly one of the most sensitive to environmental pollution and destruction. In 2022, Ember-Climate's Global Electricity Review 2023 listed Indonesia as the world's ninth greatest CO2 emitter, with 192.7 mtCO2 (Source Title, n.d.). The Financial Services Authority (Otoritas Jasa Keuangan) recently released Technical Regulations on OJK Regulation 14/2023 on Carbon Trading through Carbon Exchanges, as well as Circular Letter OJK 12/SEOJK.04/2023 on Carbon Trading through Carbon Exchanges Procedures. This carbon exchange is considered as a government initiative to reduce greenhouse gas emissions and hence regulate climate change. One rule requires exchange polluters to report emissions from their operations (Source Title, n.d.).

Corporate reporting on environmental preservation measures is thought to be an effective and efficient way to motivate businesses to engage in carbon-cutting actions. It's no surprise that environmental disclosure, including climate change reporting, is a top issue for academics and practitioners alike. According to Ernst & Young's 2012 poll, 75% of the world's biggest firms have adopted carbon reduction strategies and initiatives to publish them in their reports, with another 16% planning to do so within the next five years. According to (Freedman & Jaggi, 2009), reporting is a vital tool for businesses to demonstrate transparency in their climate change initiatives and policies. Climate change and greenhouse gas emissions reporting policies, according to (Giannarakis et al., 2017), are part of a company's environmental performance measurement. According to research by (Braam et al., 2016); (Giannarakis et al., 2017); (Peters & Romi, 2014); and (Rankin et al., 2011), organizations with high environmental performance publish more information about their proactive measures in order to obtain positive signals from investors and other stakeholders.

Unlike other countries, Indonesia has a two-tier board system (dual governance), with a board of commissioners and a board of directors. The dual board arrangement separates supervisory and executive authorities. The board of commissioners has the authority to oversee and advise the board of directors on management. The board of commissioners' ability in controlling company activities is critical in carrying out its obligations. Internal control efficacy, according to (Kusumastati et al., 2022), is a result of board diversity. Demographic diversity on the board symbolizes a variety of perspectives, innovation, expertise, and the board's ability to evaluate the company's strategic policies. Effective monitoring procedures, as demonstrated by (Liao et al., 2015), can incentivize organizations to share more information by minimizing management opportunism and information asymmetry.

This study is prompted primarily by two factors. First, empirical information on the influence of the board of commissioners as a company monitoring body on climate change reporting is required. So far, most research on the impact of board diversity on reporting has concentrated on industrialized countries and countries with a one-tier board arrangement. Second, there are inconsistent findings from past studies. This could be related to variances in government rules governing carbon disclosure in the industry (Chuang et al., 2013). In fact, carbon declaration remains voluntary in Indonesia as part of yearly reporting or sustainability reporting. As a result, a re-evaluation of this issue is likely to provide clarification.

The findings of this study constitute an important addition to the discussion on carbon disclosure in developing nations, particularly in polluting businesses. The findings show that establishing a board of commissioners is a step in the right direction for motivating corporations to be transparent in the form of non-financial reporting. The inference is that the board of commissioners is a governance entity that demands regulators' attention in the implementation of environmental preservation schemes. Furthermore, policy suggestions for board diversity must be developed to bring actual benefits to businesses.

Table 1 displays descriptive statistics for the variables utilized in the study. The average CCD value is 0.16, with a minimum value of 0 and a maximum value of 0.94. This reflects the fact that the majority of businesses provide little information about climate change. This could be due to the lack of rules in Indonesia forcing public firms to report on climate change. The proportion of independent member on the board of commissioners varies between 25% and 75%. Furthermore, foreign commissioners make up 18% of the total. In contrast, the percentage of busy commissioners in businesses can approach 100%, with an average of 30%.

The Pearson correlation test was employed in this study to assess the relationship between the independent variables. All correlations are considerably below the critical threshold of 0.8 (Gujarati & Porter, 2009), demonstrating that multicollinearity is not a concern in this investigation. Table 2 shows the findings of the correlation analysis.

Table 3 Table 3 shows the results of the regression analysis used to test the hypotheses. The first finding suggests that board independence improves climate change disclosure (β= 0.355; p-value = 0.008). This implies that the first hypothesis is correct. Companies with a higher share of independent commissioners, according to (Khaireddine et al., 2020), will improve their disclosure policies. Independent commissioners have strong ethical standards. They will encourage the corporation to share more environmental information in order to retain its reputation among stakeholders. An independent board is one that is not subject to pressure from management or shareholders, as internal boards are (Hussain et al., 2018). This has an impact on their ability to make decisions, particularly in terms of transparency through reporting.

The non-significant results on the relationship between the board's foreign nationality and climate change disclosure (β = -0.048; p-value = 0.549) invalidate the second hypothesis. This finding contradicts the findings of (Kılıç & Kuzey, 2019), who found that companies with a higher percentage of foreign commissioners are more likely to disclose carbon emission data. According to (Frias-Aceituno et al., 2013) certain cultural features can influence a company's business practices. Companies with different cultures understand international market operations with multiple foreign partners (Estélyi & Nisar, 2016), allowing them to fulfill the diverse expectations of shareholders (Masulis et al., 2011).

A positive and substantial link was discovered between the board's workload and climate change disclosure (β = 0.136; p-value = 0.037). As a result, the third hypothesis, that corporations with a higher share of busy commissioners will have poor climate change reporting, is refuted. Instead, the findings show that a busy board has a favorable impact on the degree of reporting. A busy board, according to (Cashman et al., 2012); (Ferris et al., 2018); (Ferris et al., 2018), has more skills, particularly in terms of supervision and advising, acquired from their diverse experiences. The higher the calibre of the board members, the busier they are. Busy commissioners often have a vast network and a wealth of experience (Trinugroho et al., 2022).

Evidence suggests that, among all the control variables employed, company size and leverage are factors impacting a company's motivation to do climate reporting. According to (Khaireddine et al., 2020), larger corporations provide more environmental information than smaller companies. According to the legitimacy theory, firms are under societal pressure to publish environmental information in order to obtain legitimacy. Environmental reporting is one approach for larger enterprises to align their performance with public expectations because they receive more exposure (Chithambo & Tauringana, 2014). Larger corporations also have more resources, allowing them to afford disclosure (Rupley et al., 2012). In the influence of leverage on climate change reporting, a negative and significant coefficient was discovered. This finding is congruent with those of (Chithambo & Tauringana, 2014); (Darus et al., 2020); (Luo et al., 2013). Companies that are heavily in debt will prioritize meeting their financial obligations over voluntary reporting. This is owing to the significant cash required to fund such reports.

The purpose of this study was to see if the qualities of the board of commissioners, such as independence, nationality, and busyness, influence climate change disclosure. The findings demonstrate that the number of independent commissioners has a beneficial impact on the level of climate change disclosure. Meanwhile, the board's bustle, which was thought to have a detrimental impact, instead demonstrated a favorable correlation. This study confirms that increasing board diversity improves a company's ability to better engage multiple stakeholder groups through climate change reporting. Our findings support both agency and legitimacy theories, in which corporations are encouraged to engage in voluntary disclosure as a form of accountability and transparency in order to lower agency costs and increase public legitimacy. The establishment of an independent and experienced board of commissioners encourages the voluntary dissemination of broader information about how the corporation engages in environmental initiatives.

These discoveries have several major theoretical and practical ramifications. The findings in the disclosure literature demonstrate the importance of board diversity in fostering corporate reporting. In countries with a dual board governance arrangement, for example, boards of commissioners are responsible for advising on company performance, including environmental policy. From a business standpoint, the findings help managers and decision-makers understand which board features favorably effect climate change disclosure. This implies that regulators should regulate the composition of commissioner boards, given their effectiveness in promoting non-financial disclosure standards.

Despite providing substantial contributions, this research has numerous shortcomings that open up options for future investigation. To begin, the research was conducted on mining businesses in Indonesia that use a two-tier board arrangement. As a result, caution is required when generalizing the findings, particularly to organizations that use a one-tier board system. Second, unlike in developed nations, where non-financial reporting is mandatory, non-financial reporting in Indonesia is still voluntary. Third, this study solely looked at the traits of independence, foreign nationality, and board busyness. Other factors like as age, tenure, educational background, and even political stance could be studied in the future. Finally, content analysis generates subjective data based on the researcher's viewpoint. To get broader and more valid information, future research could use interview approaches with personnel responsible for company reporting.

The author would like to thank the Muhammadiyah University Surakarta Research and Innovation Institute (LRI) for sponsoring this research through the Competitive Research Grant Program for the 2022/2023 academic year, with Agreement Letter No. 81.5/A.3-III/LRI/III/2023.