Research On ESG Information Disclosure And Enterprise Performance

The Party Central Committee and the State Council attach great importance to green and low-carbon development,high-quality development,and sustainable development.In recent years,they have made important strategic deployments many times,and various ministries and commissions have also issued relevant supporting regulations intensively.In 2021,"carbon peak and carbon neutrality" will be included in the "14th Five-Year Plan" and the outline of long-term goals for2035.In response to the call of the Party Central Committee and the State Council’s "Double Carbon" policy,the Ministry of Ecology and Environment has continuously improved the reporting and disclosure requirements of corporate environmental information,and the disclosure of sustainable development reports has become a frontier issue.In the first year of the 14 th Five-Year Plan,the country set "3060","carbon peaking,and carbon neutrality" as new development directions.ESG behavior and related information disclosure have gradually received the attention of enterprises,and the development goals of enterprises have gradually ceased to be Focusing only on economic benefits,social benefits are also taken into consideration.A large number of previous studies have shown that actively fulfilling corporate social responsibilities will bring economic burdens to enterprises,thereby inhibiting the economic benefits of enterprises.Therefore,enterprises often neglect to tap social benefits and fulfill social responsibilities.However,with the continuous rise of authoritative ESG rating agencies such as MSCI and Bloomberg,their evaluation systems have been continuously optimized,and more and more studies have shown a positive correlation between obtaining economic benefits and fulfilling social responsibilities.Based on the above analysis,this paper takes ESG information disclosure and corporate performance as the research theme,selects Sungrow,which has excellent performance in environmental information disclosure,as the research object,and uses the case analysis method to conduct research.The study found that ESG information disclosure behavior can have a positive impact on corporate performance indexes such as corporate liquidity,operating capabilities,profitability,and development capabilities by lowering the financing debt costs.This effect may not work until years of disclosures.Generally speaking,when the quality of ESG information disclosure is high,the positive effect is more obvious;when the quality is low,the positive effect appears to be very limited.In addition,when a company’s ESG information quality has achieved breakthrough improvement and received a corresponding rating,even relatively low ESG information quality can have a stronger positive effect.This paper provides suggestions with realistic guiding significance for enterprises by studying the impact of ESG information disclosure quality on the growth of enterprises under different specific conditions.