Research On ESG Information Disclosure And Its Impact On Corporate Performance Of China Shenhua Energy Company Limited

ESG incorporates a company’s impact on the environment and society into its corporate value system,emphasizing the balance between a company’s economic behavior and sustainable development of the environment and society.This concept internalizes public interest into a company’s core values,considering the company’s environmental,social,and governance performance comprehensively in order to better balance its economic development and social responsibility.Therefore,high-quality corporate reporting on the environment,social and governance(ESG)not only helps guide capital flows,helps regulators make timely decisions,but also helps investors make scientific decisions,thus promoting sustainable growth.Since 2000,the Chinese government and relevant institutions have successively issued policies to guide the disclosure of corporate social responsibility information.In particular,in 2018,the China Securities Regulatory Commission revised the "Governance Guidelines for Listed Companies" to establish the basic framework for ESG information disclosure.Thus,regulators are constantly helping ESG grow in China.At the same time,ESG rating agencies at home and abroad have also developed an ESG rating indicator system to evaluate the ESG performance of different industries,among which the coal industry is poor,especially in the environmental(E)sector,where coal enterprises generally have low scores.In order to help achieve China’s carbon peaking and carbon neutrality goals and promote sustainable development,coal companies should take immediate action to transform into low-carbon business models in different forms and degrees,and ESG information disclosure will be a key element to achieve the transformation.This paper analyzes the impact of ESG information disclosure on the market performance and financial performance of Shenhua.The research results show that in terms of market performance,the market response was not ideal after the ESG report was released in 2020.In terms of financial performance,its profitability,debt repayment ability and research and development ability are all higher than the average of its peers.Moreover,compared with the average financial indicators of coal enterprises in different ESG scoring segments,it is found that the enterprises with good ESG performance also outperformed the above financial indicators.Finally,according to the research results,from the enterprise level and the government level to put forward relevant suggestions.This paper aims to deeply analyze the relationship between ESG information disclosure and corporate performance,and provide some theoretical support and guidance for corporate ESG information disclosure.