Study On The Impact Of Corporate Environmental Responsibility Performance On Corporate Financial Performance

The CPC Central Committee with Comrade Xi Jinping at its core proposed the goal of achieving carbon peak by 2030 and carbon neutrality by2060,which is of great strategic significance for promoting high-quality economic development and building a modern country with coordinated development between man and nature.As a profit-making organization,an enterprise should contribute to the realization of the national environmental strategic goals while pursuing the maximization of interests.Learning how to balance the relationship between environmental protection and economic development is a required course for enterprises,and it is also the highest wisdom of enterprise management.At the same time,it is increasingly important to explore the relationship between corporate environmental responsibility performance and financial performance.Enterprises in China’s high carbon emission industry enterprises have the characteristics of high pollution and high energy consumption,and the importance of taking the initiative to assume environmental responsibility is more significant than other industry enterprises.Therefore,this paper complies with the background of carbon neutrality,and focuses on China’s high carbon emission industry enterprises for empirical research.This article is based on five major theories,including corporate social responsibility theory and corporate reputation theory,and proposes hypotheses about the relationship between corporate environmental responsibility performance and financial performance.1180 sample data of listed companies in China’s high carbon emission industry from 2012 to 2021 were selected,and a multiple linear regression fixed effect econometric equation model was used for benchmark regression analysis to explore the impact of corporate environmental responsibility on financial performance,And all sample enterprises were divided into state-owned enterprises and non-state-owned enterprises based on equity heterogeneity.the heterogeneity analysis was conducted on enterprises in the western,central,and eastern regions to further improve the research conclusion.The research results indicate that there is a positive correlation between environmental responsibility and financial performance of high carbon emitting enterprises in China;At the same time,there are property rights heterogeneity and regional heterogeneity in the impact of environmental responsibility on financial performance of Chinese high carbon emission enterprises.In view of the results of the empirical study,this paper puts forward to strengthen enterprise environmental responsibility of related policy Suggestions,and combined with carbon neutral background,respectively from the government level and enterprise level China high carbon industry low carbon transformation Suggestions,found that China’s high carbon emissions industry in daily environmental management,suit the remedy to the case,finally expect to promote China’s high carbon industry in economic structure,industrial structure,production mode,lifestyle on a certain degree of adjustment,make the enterprise’s low carbon action gradually from strengthening cognitive into concrete implementation,explore new mode of "double carbon" management.