Study On The Impact Of Carbon Information Disclosure Quality On Financial Performance Of Coal Companies

Currently,the world is facing the major challenge of climate change.It is the shared mission of all humankind to curb climate warming and save the earth.In 2020,General Secretary Xi Jinping officially proposed China’s carbon peaking and carbon neutrality goals.In 2021,the national carbon emissions trading market was officially launched.As the main source of carbon emissions,enterprises will face stricter requirements in carbon disclosure and carbon management,especially coal enterprises with high pollution and emissions.They need to disclose carbon information to the outside world in a timely manner,strengthen carbon management,and promote the development of industry carbon information disclosure to achieve the goal of green development.China Shenhua,as the largest coal enterprise in China,has rich experience in carbon information disclosure.This thesis takes China Shenhua as a case study to explore the impact of the quality of carbon information disclosure on financial performance,which can assist more corporate managers in fully recognizing the importance of carbon information disclosure and enhancing their disclosure initiativeBased on the relevant literature of domestic and foreign scholars on the quality of carbon information disclosure and its relationship with financial performance,this thesis explores the impact of improving the quality of carbon information disclosure on financial performance based on stakeholder theory,information asymmetry theory,signal transmission theory,and sustainable development theory.Combining the actual situation of China Shenhua,firstly,a comprehensive evaluation index system of the quality of carbon information disclosure is constructed from three aspects: carbon strategy,carbon accounting,and carbon emissions reduction,and the disclosure quality is quantitatively evaluated using the index method.Secondly,the entropy weight method is used to evaluate the financial performance horizontally and vertically.By employing the grey relational analysis approach,the correlation between the quality of carbon information disclosure and financial performance of China Shenhua was investigated,clarifying that the quality of China Shenhua’s carbon information disclosure can have an impact on financial performance.Finally,combining specific financial data and indicators,the thesis analyzes the specific impact of carbon information disclosure quality on China Shenhua’s financial performance.Based on the above research,the thesis mainly draws the following conclusions:(1)Improving the quality of carbon information disclosure can have a positive impact on the operating capacity,solvency and development capacity of the company,and a negative impact on profitability.(2)Construct the evaluation index system of carbon information disclosure quality in line with the actual situation of China Shenhua,evaluate the quality of carbon information disclosure objectively and comprehensively,and increase the comparability of disclosure quality.In addition,according to the status of China Shenhua’s carbon information disclosure,the thesis clarifies its deficiencies in terms of non-standard disclosure methods and one-sided content,and puts forward improvement suggestions from four aspects: improving the content and framework of carbon information disclosure leveraging the core role of management,building a professional team,and deepening the supervision mechanism.This can enhance China Shenhua’s awareness of carbon information disclosure,improve the quality of carbon information disclosure,and provide impetus for carbon information disclosure in the coal industry.