Drawing upon the theory of Natural-Resource-Based View (NRBV), this study explores the performance implication of disclosing corporate social responsibility (CSR). Specifically, this study examines the impact of a firm’s climate-related disclosures and sustainability disclosures, as a part of CSR activities on its financial performance. This study argues that the climate-related disclosures and sustainability disclosures are positively associated with a firm’s performance. Moreover, the interaction of the climate-related disclosures and sustainability disclosures further strengthens the main effect on firm performance. Using the annual 10-K filings data of 75 companies among the Standard & Poor’s 500 (S&P500) companies from 2012 to 2022, this study finds the proposed hypotheses all supported. This study contributes to the theory and practice by showing how companies may have been impacted by CSR disclosure, and how they reflect their sustainability efforts through their business performance.

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