Environmental Information Disclosure Of Zijin Mining Group

As the environmental pollution gets worse, enterprise’s environmental performance has become a focus of the government and the public. Environmental disclosure is regarded as an important measure to supervise enterprises. As China’s environmental policy becomes improved, the central and local governments have made new request to enterprises, so their reaction is attracting more and more researchers. Nowadays, on the disclosure of environmental information, Chinese enterprises are usually characterized by passive obedience and the quality is not high, for some companies even appear through selective disclosure of environmental information to achieve the goal to affect the market. So usually, the enterprises have very strong opportunism motivation. It is of importantly practical significance how to further regulate the performance of the enterprises’environmental information disclosure and restrain the behavior of the enterprises at the expense of the environment for the economic interests.Based on reviewing the content of the enterprises’ environmental information disclosure, forms, factors and the economic consequences, the paper adopts the method of giving priority to study the environmental performance and information disclosure behavior of zijin mining with case analysis. First of all, the article reviews zijin mining’s environmental events in 2010 and analyses on the basis of reviewing the cause of zijin mining repeatedly environmental incidents, then the paper finds questions in the external audit, internal control, environmental protection investment, political association, finance, tax contribution and the performance of the existing problems in front of environmental events. As a result, improvement suggestions are put forward. Secondly, drawing lessons from scholars in the field of environmental information disclosure of related research, the paper has carried on the environmental information disclosure index to zijin building. From the angle of environment before and after the incident since listing zijin mining environmental information disclosure in longitudinal, the paper makes a transverse analysis, respectively from the overall condition of environmental information disclosure, the condition of environmental events before and after the change, enterprise development, and special projects of environmental information disclosure. Furthermore, from the environmental information disclosure system, the investor reaction and the perspective of enterprise behavior, it can be concluded that there are some problems in the environmental information disclosure of Chinese industries by analyzing the present situation of the case analysis. Finally, from the overall summary on the research conclusion, the paper puts forward suggestions on related issues.The main conclusions of this paper include:first, for the zijin mining group, the main reason for the occurrence of environmental events lies in the enterprise internal control defects. Specifically, executives fail to lay emphasis on environmental problems and the enterprise invests insufficient funds into the protection but acquires more subsidizes from the government, existing a short-sighted behavior of low investment and high profits. In terms of the content, the problem of selective disclosure is serious, especially reflected from the change before and after the environmental incident. Second, from the external factors, the audit of registered accountants fails to concentrate on the disclosure of environmental information, which is also the important cause of zijin mining environmental events. Besides, it is the special bond between the enterprise and local government that causes ineffective supervision to the environmental protection. Specifically, it includes zijin mining tax contribution, zijin mining executives’ background and governmental support to the enterprise. Third, from the overall of zijin mining environmental incidents, the root cause of the environmental information disclosure of related problem is that China’s current relevant laws and regulations are invalid and certified public accountants’ audit work is not perfect. Due to the current environmental information disclosure system in our country, it is inevitable that the enterprise has information disclosure problem, so we should accelerate reform of the policy in our country and further improve the specification of the government to the enterprise environment information disclosure, which is of a profoundly practical significance.Through the study of pollution incident zijin mining and environmental information disclosure behavior, the article proposes some suggestions and enlightenment as follows:(1) It is imperative for our country to speed up the government’s policy on enterprise environmental information disclosure system reform and further strengthen the supervision of enterprises environmental behavior. (2) It is urgent to improve the special profession of auditing standards and certified public accountants practice ability and give full play to the experts and association of certified public accountants audit work, and through the special industry standards of environmental events audit work, we can reduce significant risks of the auditees. (3) The relationship between the government and enterprises and the responsibility of the local governments shall be improved to prevent the negative effects of environmental performance on enterprise management and the interests of the link for the enterprise. (4) Local governments should further strengthen the inspection of heavy pollution enterprise environmental protection investment, and clear the specification in relevant system. (5) The environmental protection consciousness of enterprises should be improved, which can urge them to bear the social responsibility.