The Influence Of ESG Rating On Corporate Performance Of Chinese A-share Mining Listed Companies

ESG stands for Environmental,Social and corporate Governance.With the change of international situation and domestic economic development,our country has put forward the goal of "double carbon",the development of enterprises must pay attention to ESG,the development of enterprises also become more sustainable and high quality.In the past,it was widely believed that there was a negative correlation between enterprises’ efforts to achieve economic profits and their active practice of ESG.Based on this view,enterprises often took their social responsibilities outside themselves in order to make profits.However,with the continuous improvement of ESG rating system,a large number of studies and cases show that there is no negative correlation between corporate profits and active practice of their relevant social responsibilities.Based on the above views,this paper chooses Luoyang Molybdenum Industry,which has outstanding ESG rating performance,as the analysis object to study the impact of ESG rating on the performance of Luoyang Molybdenum Industry enterprises.First of all,this paper introduces the international and domestic literature on ESG rating,and introduces the concept of ESG and ESG rating as well as related theories.Then the development of Luoyang Molybdenum industry in these fields is analyzed from the perspectives of environment,society and corporate governance.Finally,the paper analyzes the impact of the ESG rating performance of Luoyang Molybdenum Industry on the enterprise performance from three aspects: financial performance,R&D innovation and market value,and concludes that the improvement of ESG rating performance and excellent ESG practice can improve the enterprise value to some extent.First,the high performance of ESG rating indicates that enterprises improve technology to improve the utilization rate of materials,take an environmentally friendly path,assume more social responsibilities,improve the corporate governance mechanism,improve the welfare of employees,etc.Second,excellent ESG rating performance can enable enterprises to accumulate a high reputation in the capital market and reduce the information asymmetry between enterprises and stakeholders,so as to be favored by the capital market.Third;Put forward feasible suggestions for the development of domestic ESG: strengthen the preferential policies related to ESG;Carry out investor education;Standardize ESG information disclosure requirements.