Governance Meets the Global Goals: Board Characteristics and SDG Reporting

Abstract

As sustainability gains prominence in corporate reporting, attention has turned to how governance structures influence such disclosures. Despite this, the extent and determinants of Sustainable Development Goals (SDG) disclosure in emerging markets remain underexplored. This study investigates the influence of board characteristics on SDG disclosure among companies listed on Bursa Malaysia, using the Upper Echelons Theory (UET) as a theoretical foundation. It specifically examines the role of board size, directors’ age, and educational background. Data were collected through content analysis of annual, sustainability, and integrated reports from 145 consumer product and service companies listed on the Main Market, covering the period from 2018 to 2022. Regression analysis was conducted using the Statistical Package for the Social Sciences (SPSS). The results reveal that board size and age have a significant positive impact on SDG disclosure, suggesting that larger and older boards may contribute to greater sustainability engagement due to broader perspectives and experience. However, educational background does not show a significant effect, implying that formal qualifications alone may not drive sustainability practices. This study contributes to the growing literature on corporate sustainability and governance by offering empirical evidence on how board-level attributes influence strategic SDG reporting and by extending the application of UET to the context of SGDs disclosure. The findings also offer practical insights for regulators and listed companies in strengthening board governance to support more effective sustainability reporting and greater 
alignment with the SDGs.