ABSTRACT

This study examines the value relevance of environmental sustainability disclosures in the annual reports of listed insurance companies in Nigeria. The research investigates the impact of environmental, social responsibility, and corporate governance disclosures on market valuation, aiming to provide insights into the integration of environmental, social, and governance (ESG) factors into financial decision-making in the Nigerian insurance industry.

Using regression analysis, the study finds that environmental, social, and governance disclosures positively influence share prices, indicating that investors in the Nigerian insurance market value sustainability and responsible governance practices. The findings underscore the importance of transparency and accountability in ESG disclosures for enhancing investor confidence and driving sustainable economic development.

The study concludes with recommendations for enhancing disclosure practices, regulatory oversight, investor education, and long-term sustainability initiatives in the Nigerian insurance sector. Future research directions are also discussed to further explore the relationship between ESG disclosures and market valuation in emerging markets like Nigeria.