Blue Goals, Grey Areas: Low Disclosure on SDG 14 Across Reporting Trend Among Malaysian Government-Linked Companies

Objective: The objective of this study is to investigate the information trend and the level of the Sustainable Development Goals in the corporate reporting of Malaysian Government-linked companies. Theoretical Framework: The theories utilised in this study are legitimacy, institutional, and stakeholder theories. These theories are commonly used in analysing corporate disclosure, particularly in the context of corporate disclosure. Additionally, this study is grounded in these theories because they can explain the predictor factors contributing to the study's findings. Method: The methodology adopted for this research comprises a two-step approach, including a thematic content analysis and quantitative analysis of the selected companies’ annual corporate reports. The data collected spanned a 5-year longitudinal period. Results and Discussion: The results obtained revealed a distinct lack of disclosure in SDG 14 (Life Below Water) among all the Sustainability Development Goals. This study suggests that the lack of disclosure on certain SDG is due to a lack of a standardised taxonomy that represents a particular category and inconsistent metric definitions that lead to redundancy of information. Research Implications: The practical and theoretical implications of this research are discussed, providing insights into how the results can be applied or influence practices in the field of governance and sustainability. These implications could encompass various sectors and industries, primarily in consumer-sensitive industries. Originality/Value: This study contributes to the literature by highlighting that the trend and focus of Sustainability Development Goals disclosure practices provided by GLCs are influenced by a country’s capital market regulations, competitors' pressure, and financial focus. The findings suggest that Malaysian GLCs have improved the sustainability disclosure. Nevertheless, it is worth noting the importance of identifying key players who can influence companies’ sustainability disclosure.