Title: Greenwashing Or Governance? Evaluating ESG Reporting Awareness And Perception Among Nigerian Financial Stakeholders
Authors: Celestine Izunna, Ekweozor
Volume: 9
Issue: 10
Pages: 37-44
Publication Date: 2025/10/28
Abstract:
Around the globe, investors and financial analysts increasingly rely on non-financial disclosures to evaluate and make informed decisions about firms. However, in Nigeria, this reliance is constrained due to the voluntary nature and perceived unreliability of ESG disclosures. This study, therefore, assesses stakeholders' awareness and perception of ESG (Environmental, Social, and Governance) reporting in Nigeria, with a particular focus on institutional investors and financial analysts. Guided by stakeholder theory, the study employed a descriptive survey design and a structured self-administered questionnaire for data collection. The findings reveal a moderate to high level of ESG awareness among Nigerian institutional investors and analysts, with investors demonstrating slightly higher familiarity. However, perceptions of the credibility and reliability of ESG data remain lukewarm. Based on these findings, the study recommends, among other things, the establishment of a mandatory ESG reporting framework aligned with global standards such as those proposed by the ISSB. It also advocates the integration of ESG analytics, sustainability reporting, and climate risk assessment into accounting certification curricula and CPD programs in Nigeria.