Board Characteristics, Carbon Footprints and Green Reporting of Quoted Oil and Gas Companies in Nigeria.

ABSTRACT

This study examined the relationship betweenboard characteristics, carbon footprints and green reporting of eight (8) quoted oil and gas companies in Nigeria for the period 2012 to 2021. The specific objectives of the study were to find out whether board size (BSIZ), board independence (BIND), CEO dominance (CEODOM), board gender diversity (BGD) and carbon emissions (CO2) significantly affect green reporting (GR) in the oil and gas industry in Nigeria. The panel fully modified least square (PFMOLS) was employed for the analysis of data and the results obtained indicate that, board size (BSIZ) and board independence (BIND) has significant negative relationship with green reporting (GR) in Nigeria; CEO dominance (CEODOM) and board gender diversity (BGD) has a significant positive effect on green reporting (GR); while carbon emissions (CO2) has a weak positive relationship with green reporting (GR) in the Nigerian oil and gas industry. The study recommends among others that, management should review the current composition of the board of directors to ensure that appropriate number/the right number of persons that should make up the board membership are implemented. They should avoid excessive/large board members because, often times, they tend to have difficulties in coordinating the contributions of each member, as well as maintaining cohesiveness, and adherence to norms. These measures will definitely go a long way to ensuring that board size positively influence green reporting of quoted oil and gas companies in Nigeria.