Research On The Construction And Application Of ESG Fund Performance Evaluation System In China

Since the 2020 "Dual Carbon Goal" proposed,the Sustainable Development Goal has become the consensus and direction of economic development of all countries,and an important guide for China’s economic development and financial work.At the same time,the consciousness and motive force of fulfilling CSR are being strengthened gradually.Perfect corporate governance structure has become the consensus of investors and capital market.ESG investment in China’s capital market continues to develop rapidly,and the number and scale of ESG fund continue to jump.At present,the market size of China’s major liability investment types is about 24.6 trillion yuan,with 498.41 billion yuan of ESG publicly offered fund and 270 billion yuan of ESG private equity fund.ESG fund are still developing vigorously.But ESG fund lacks a set of highly suitable performance evaluation system at present,investors can’t evaluate the performance of ESG fund reasonably.Based on the development of ESG fund in our country,this paper constructs a highly adaptable performance evaluation system of ESG fund,and takes A fund as an example to test its operability.This paper is composed of six parts.The first is the introduction,which collates and summarizes the current research results of ESG and ESG fund at home and abroad and future research trends,and introduces the research methods,research contents and innovations adopted in this paper;the second is the definition of concepts and theoretical foundations,which clarifies the concepts of ESG fund,ESG investment concepts and fund performance evaluation,and introduces the relevant theoretical foundations.Third,we analyze the current situation of ESG fund and their performance evaluation in China from three perspectives: the development history of ESG fund in China,the current situation of performance evaluation system,and international experience.The fourth part is to establish the performance evaluation index system of ESG fund in our country,and divide the evaluation indexes into four dimensions: finance,fund management,investment theme adaptability and one-vote rejection,and determine index weights.The ESG performance evaluation system of the investee enterprise and the position weight are used to get the score of this dimension.Compared with traditional fund,ESG fund have very significant ESG theme,so it is very important to evaluate whether the investment theme is in line with the positioning of ESG fund,so it is important to evaluate the adaptation of investment theme separately to realize the focus of ESG investment philosophy.Fifthly,we take Fund A as a case study to verify the operability of the constructed ESG fund performance evaluation system,and analyze the problems of Fund A and put forward relevant suggestions in a targeted manner.Sixth,conclusion and outlook,summarize the full text and draw conclusions of the study,and propose relevant policy recommendations for the performance evaluation of ESG fund.Based on the ESG framework,this paper constructs a highly adaptable performance evaluation index system of ESG fund combining qualitative and quantitative indicators.To some extent,the performance evaluation system of ESG fund is improved,which can evaluate the performance of ESG fund more accurately and help ESG fund realize the theme of ESG better.And it is helpful for the government to supervise the performance of CSR,enhance the trust of investors to enterprises,and promote the long-term sustainable development of ESG fund.