Study On The Effect Of ESG Information Disclosure Of Huaxin Cement

The introduction of the "3060" dual carbon target and the outbreak of the new crown epidemic have gradually brought corporate social responsibility into the limelight,which in turn has driven the development of ESG,and ESG disclosure has become a key indicator for domestic and international organisations to assess corporate performance.environmental,social and governance requirements and objectives.As China is striving to promote the formation of green and low-carbon production and lifestyle,enterprises are the key to green and low-carbon transformation,and ESG is a systematic methodology and powerful tool to promote the green transformation of enterprises.Therefore,research around the effects of corporate ESG information disclosure is of great significance in promoting the high-quality development of China’s economy and society.Based on stakeholder theory,economic externality theory,corporate social responsibility theory and sustainable development theory,this paper analyses the current situation of ESG information disclosure in the cement industry through normative research,descriptive statistical analysis and comparative research methods.Huaxin Cement is selected for a specific case study,and is analysed in terms of the content of ESG information disclosure,the characteristics of ESG information disclosure and the comparison of ESG external ratings respectively.The effects of ESG disclosure on the environmental,social,economic and innovation dimensions of Huaxin Cement are revealed.The event study method is used to determine the market response to ESG disclosure,and the analysis concludes that ESG disclosure has had a positive impact on Huaxin Cement’s share price and has improved the company’s brand credibility and market competitiveness to a certain extent.It also identifies the problems that arise in the process of ESG information disclosure,corresponds to the suggestion that companies should pay attention to ESG information disclosure and sustainable development,that investors should consider nonfinancial factors,and finally proposes policy recommendations from the government’s perspective.This paper aims to stimulate the interest of various stakeholders in corporate ESG information through specific cases and to raise the awareness of companies themselves on information disclosure.