The Motivation And Effect Of ESG Information Disclosure In Energy Industry

In recent years,the state has put forward new requirements for the green and healthy transformation of enterprises,and investors have also put forward new demands for ESG information disclosure of enterprises.ESG comes from the initials of the three English words Environmental,Social and Governance.At present,the topic of corporate social responsibility and ESG information disclosure has aroused extensive discussion,but there is still a lot of room for improvement in China’s ESG information disclosure system,and the disclosure rate and quality of ESG reports of listed companies need to be improved.The traditional energy industry,as one of the three key industries of the "dual carbon" goal,has the characteristics of high energy consumption and high pollution,and the ESG system construction and ESG information disclosure of various enterprises in the industry have attracted great attention from all parties.Among them,China Shenhua,as a coal industry enterprise occupying the main position in the energy industry,has actively practiced ESG concepts for many years,responded to the national goal of "carbon peak and carbon neutrality",promoted clean energy utilization while actively assuming social responsibility,and was highly praised by all walks of life,and was selected into the list of ESG excellent practice cases released by the China Association of Listed Companies.Its ESG information disclosure system construction process and ESG practice experience have reference value.This paper uses the literature analysis method and case study method,selects China Shenhua as the case object,and analyzes the ESG information disclosure of the energy industry in combination with the "dual carbon" goal.The results of the study show that the motivation for ESG information disclosure in China Shenhua includes three factors: signal transmission demand,regulatory requirements and enterprise development needs.Its ESG practice and disclosure have also achieved good results,and after studying from four perspectives:market performance,environmental dimension performance,social responsibility dimension performance and economic consequence analysis,this paper finds that China Shenhua’s ESG information disclosure may cause investors to temporarily worry about the short-term market response in the short term due to the lag in information interpretation,and in order to meet regulatory requirements,the company may also choose to sacrifice temporary economic interests.However,in the long run,ESG information disclosure can help ease financing constraints,create a good corporate image,and improve corporate value in the long run.Combined with the "dual carbon" goal,through the discussion of the classic case of China Shenhua,this paper hopes to attract the attention of all sectors of society to the development of ESG concepts,provide certain references for ESG practice and information disclosure of Chinese enterprises,especially in the energy industry,and promote high-quality ESG information disclosure by enterprises,which has certain theoretical and practical significance.