Research On ESG Information Disclosure And Economic Consequences Of Non-ferrous Metal Industry

ESG is derived from Environmental,Social and corporate Governance.In recent years,as our country put forward the "double carbon" goal,ESG is gradually becoming an important factor that can not be ignored in enterprise development.As a highpollution and energy-consuming industry,the non-ferrous metal industry attaches importance to sustainable development factors such as ESG,which is conducive to achieving the goal from carbon peak to carbon neutrality.In order to benefit maximization,but enterprises will often choose to ignore social benefits.However,with the deepening of research on ESG information disclosure,existing studies have shown that corporate interests and social benefits are not in conflict.Then,whether the disclosure of ESG information will affect the economic consequences of enterprises needs to be further studied.This thesis sorts out the domestic and foreign literature on ESG information disclosure and economic consequences,takes signal transmission theory,stakeholder theory and corporate social responsibility theory as the theoretical basis,and constructs the path analysis framework of ESG information disclosure and economic consequences.The present situation of ESG information disclosure in non-ferrous metal industry is analyzed and the evaluation system of ESG in non-ferrous metal industry is constructed by AHP.Aluminum Corporation of China Limited,a non-ferrous metal industry in our country,was selected as the case enterprise to analyze the current situation of ESG information disclosure of Aluminum Corporation of China from the three perspectives of ESG,and to explore the impact of ESG information disclosure on the economic consequences of enterprises from the three aspects of market reaction,financial performance and non-financial performance.The following conclusions are drawn from the research:(1)The information disclosure of ESG generally presents an optimistic trend.(2)Domestic ESG evaluation system is in urgent need of improvement.(3)ESG information disclosure can affect the economic consequences of enterprises.Finally,according to the research conclusions,the author puts forward research suggestions: enterprises should improve the management of ESG information disclosure;Investors pay more attention to ESG information disclosure;The government will improve the ESG information disclosure system.This thesis constructs an ESG evaluation system for the non-ferrous metal industry to provide reference for the relevant research of ESG information disclosure evaluation system.Taking the three levels of ESG as a whole,this thesis analyzes the influence of ESG information disclosure on the economic consequences of enterprises,and uses cases to deepen the theory,which enriches the research content in the field of ESG information disclosure.It is helpful to provide reference for managers,reduce investors’ investment risks,and increase certain guiding significance for relevant departments to formulate ESG related standards and policies.