Effect of Environmental Disclosure on Cost of Equity of Listed Consumer Goods Firms in Nigeria

As concerns about climate change, pollution and resource scarcity intensifies, stakeholders are placing greater emphasis on the environmental practices of organisations. Based on this, the study examined the effect of environmental disclosure on the cost of equity of listed consumer goods firms in Nigeria. Ex-post facto research design was adopted, and panel data covering ten (10) years (2013-2022) were collected across eighteen (18) listed consumer goods firms in Nigeria which formed the sample size of the study. The data collected were analysed using panel multiple regression analysis via E-views 10. 0 statistical package. The study findings revealed environmental risk disclosure (Coeff. = -0. 02690. 0107) and waste management disclosure (Coeff. = -0. 01780. 0009) have significant negative relationships on cost of equity (COE) of listed consumer goods firms in Nigeria while greenhouse gas emission disclosure (GGED) has an insignificant negative effect (Coeff. = -0. 00750. 3966) on cost of equity (COE) of listed consumer goods firms in Nigeria. It was thus concluded that environmental accounting disclosure plays a crucial and significant role in shaping the cost of equity of listed consumer goods firms in Nigeria. The study recommended, amongst others, that regulatory bodies and industry associations should advocate for the integration of robust waste management disclosure strategies within corporate reporting frameworks to mitigate environmental impact and promote sustainable business practices.