Practicing ESG Concept Contributes To The Development Of Green Finance

ESG concept is the mainstream investment concept in the world.Under the role of policy promotion and international transmission,the Chinese market is also integrating into the booming trend of international ESG investment.In 2021,the CPC Central Committee will incorporate the goal of " carbon peaking and carbon neutralization " into the overall layout of ecological civilization construction.With the concept of environmental protection and sustainable development gradually rooted in the hearts of the people,the attention to enterprise environment,society and governance(ESG)is also increasing.The concept of green finance and ESG has gradually become an important topic.ESG concept emphasizes that enterprises should pay attention to protecting the ecological environment,fulfilling social responsibilities and improving the level of corporate governance,which coincides with the theme of highquality development.ESG concept conforms to the concept of green finance.Practicing ESG concept will help China achieve the goal of "double carbon" and efficiently promote the development of green finance.Therefore,in-depth study of the practice of ESG concept is of great significance to the development of green finance,which will help China’s banking green finance field to strengthen the application of ESG theory and guide the development of green finance business.Based on the literature review of ESG concept,this thesis comprehensively combs the ESG concept,the basic concept of green finance and the development status at home and abroad.Select the case of ICBC’s practice of ESG concept for in-depth research.First,this thesis introduces the ESG practice of ICBC in detail from three aspects: ESG information disclosure,ESG green rating system and ESG products developed.Then it introduces the development status of green finance business of ICBC.Besides,this thesis analyzes the motivation of ICBC’s practice of ESG concept from two aspects of internal and external factors;it also focuses on the performance of ICBC’s practice of ESG concept to help green finance.At the micro level,that is,from the perspective of ICBC itself,through horizontal comparison,it analyzes the shortcomings of ICBC’s practice of ESG concept.Then from the macro level,that is,the problems existing in China’s ESG system,this thesis analyzes the challenges faced by ICBC in practicing the ESG concept.This thesis draws the following conclusions: first,ICBC actively discloses ESG information,guides the flow of funds to the field of green finance;constructs an ESG rating system and applies it to green finance business;develops the "CSI 180 ESG index" and Index ETF fund,and widens green investment channels.Its successful experience can be used for reference by other banks.Second,ICBC also has deficiencies and challenges in practicing the ESG concept,which hinders the development of green finance.It has certain ESG management risks and lacks ESG financial products.It faces challenges in three aspects: information disclosure,evaluation system and investment.Through the full text research,this thesis puts forward relevant suggestions for commercial bank to practice ESG concept and help the development of green finance.First,improve the ESG information disclosure system;Second,strengthen the construction of ESG data infrastructure;Third,build an ESG evaluation system suitable for the Chinese market;Fourth,enrich and deepen the ESG investment market;Fifth,cultivate ESG investors.