Economic Consequences Of ESG Information Disclosure

Since the beginning of the new century,while promoting development,countries around the world pay more attention to the coordination between their governance level and society and environment.Therefore,ESG has attracted wide attention since it was proposed.At present,ESG derivative financial products are increasingly rich,and ESG information disclosure systems in European and American countries are gradually improving.But China is still in its infancy stage,but with the "double carbon" strategy to continue to promote,ESG investment concept gradually deepening.On July 25,2022,the Shenzhen Stock Exchange released the ESG evaluation method and ESG index,marking that ESG reports will become an important basis for investment decisions.In this context,it is appropriate to study the current situation of ESG information disclosure and its economic consequences.Coal,known as the "mother of chemical industry",is one of the basic energy sources in China,which is of great significance to our economic construction and development.However,the pollution problem is also one of the chronic diseases in this industry.With the continuous deepening of the concept of sustainable development,the green development of this industry is imminent.As a leading enterprise in China’s coal industry,China Shenhua is typical in terms of industry characteristics and economic volume,and is also in a leading position in the industry in terms of ESG information disclosure.It is representative to study the implementation,disclosure and economic consequences of its ESG concept.Based on the China shenhua energy as the research object,based on relevant theories,through the event study method,financial index analysis and contrast analysis to verify ESG disclosure brings to the enterprise’s short-term market reaction and long-term value,draw the conclusion of the ESG disclosure to promote enterprise value-added,it calls for a enterprise to practice ESG idea,Standardize ESG information disclosure to achieve high-quality development.