| On Sep.22,2020,China formally put forward the goal of "achieving carbon peaking" by 2030 and "carbon neutrality" by 2060 at the 75 th session of the United Nations General Assembly,which signifies that the importance of corporate social responsibility is becoming more and more prominent,and the public and all sectors of society are paying more and more attention to corporate ESG disclosure.The public and all sections of society are attaching more and more importance to corporate ESG disclosure,and more and more attention is being paid to the fulfillment of corporate social responsibility.At the same time,new development goals have been put forward for the fulfillment of social responsibilities such as the environment,and the public and the community are paying more attention to the fulfillment of corporate social responsibility,so corporate ESG information disclosure receives more attention.Against this development background,regulatory bodies such as SEHK,SSE and SFC have issued a series of standardized documents related to ESG information disclosure and started to focus on the disclosure of ESG information in social responsibility reports,while social responsibility reports have started to change to social responsibility(ESG)reports supported by ESG concepts,which have put forward higher requirements for ESG information disclosure.The quality of ESG information disclosure is evaluated based on the text miningbased information quality characteristics and the ESG content components,and the quality of ESG information disclosure is evaluated for five years before and after the change of social responsibility reports.In the text mining-based information quality characteristics dimension,a series of regulations issued by the Hong Kong Stock Exchange and other related software such as python and ROST CM are used to extract relevant text features and analyze the comprehensibility,completeness,comparability,textual emotional balance and reliability of ESG information disclosure.In the content composition dimension based on ESG,the quality evaluation system is also constructed based on the normative documents related to information disclosure,combined with the relevant indicators in the Guotaian database using the index method.Finally,the two results are standardized and summed to obtain the overall ESG disclosure quality evaluation.After constructing the ESG information disclosure quality evaluation system,Huadian International,a representative enterprise in the thermal power industry,is selected as the case company to first introduce the basic information of the case company,analyze the change process of its social responsibility report and the reasons for the change,and then apply the ESG information disclosure quality evaluation system constructed in the third part,respectively,from the text mining-based information quality characteristics dimension and the environmental,social and corporate governance-based content composition dimension.Then,we apply the ESG information disclosure quality evaluation system constructed in Part III,analyze the information quality characteristics based on text mining and the content composition dimensions based on environmental,social and corporate governance,and finally combine the two results for a comprehensive evaluation.By analyzing the quality of ESG information disclosure of Huadian International before and after the change of social responsibility report,it is found that the quality of ESG information disclosure before and after the change shows a significant increase in general,especially in the year when the change of social responsibility report occurs,which indicates that Huadian International has been more active in responding to the relevant regulatory documents and the implementation effect is better.However,in the following years,the growth of quality slowed down and slightly decreased,indicating that there are still some problems in the process and further refinement of regulation is needed.Finally,we conclude that the overall ESG disclosure quality of Huadian International has improved significantly before and after the change of social responsibility(ESG)reporting,but there are still some problems that need to be improved,and we summarize the problems of ESG disclosure quality of Huadian International,and then try to improve the ESG disclosure quality of Huadian International from the aspect of policy improvement and the enterprise itself.Then,we put forward rationalized suggestions for improving the quality of ESG disclosure of Huadian International from the aspects of policy improvement and enterprises themselves. |
