Study On ESG Disclosure In Biopharmaceutical Industry

ESG(Environmental,Social and Governance)is an important consideration in social investment responsibility and an important contributor to the practice of China’s dual carbon plan to achieve carbon peaking and carbon neutrality.As the dual carbon target continues to advance,the environmental disaster brought about by improper business practices,social issues and poor risk management has once again become a hot topic of discussion around the world.In response to the growing sustainability issues in the environmental,social and financial markets,various countries and international organizations have proposed sustainable development action plans such as ESG to build a sustainable development framework for human society.Since the formal introduction of ESG principles in 2004,they have been actively implemented in Europe,the US and other developed countries,and a series of achievements have contributed to the development and maturity of ESG factors and the overall ESG system,such as the establishment of ESG assessment systems,ESG disclosure standards and ESG index systems.Although the concept of green finance and ESG investment started late in China,the development of ESG in China is still in the initial stage in terms of the overall market situation.However,under the leadership of national sustainable development policy,the market is paying more attention to ESG performance and information disclosure of enterprises,and ESG has become an important factor affecting the high-quality development of enterprises.The biopharmaceutical industry is an important industry related to the nation’s livelihood and an important guarantee for people’s health and social stability,and it also has special problems such as waste of resources and complex pollution components.Therefore,it is urgent to analyze the ESG characteristics of the biopharmaceutical industry and guide the standardized management of ESG information disclosure of pharmaceutical companies.Thus,this paper takes the promotion of the "double carbon" target and the catalyst of the new crown epidemic as the research background,and based on the review of literature,it compares the relevant literature at home and abroad,takes the past and the future,relies on the theoretical basis of the triple bottom line,corporate social responsibility,Porter’s hypothesis,etc.,in addition to the ESG(environmental,social and governance)concept that this paper focuses on,it also adds CSR(corporate social responsibility),SRI(socially responsible investment)and UN-PRI(United Nations Principles for Responsible Investment).In addition to the ESG(Environmental,Social and Governance)concept that we focus on,we also add CSR(Corporate Social Responsibility),Socially Responsible Investment(SRI)and United Nations Principles for Responsible Investment(UN-PRI),follow the trend of the times,introduce in detail the content,status quo and rating system and other important components of ESG information disclosure system,and analyze the performance of information disclosure under different ESG rating systems after finishing.The current situation and causes of ESG information disclosure in the biopharmaceutical industry are analyzed,and Wuxi PharmaTech New Drug Development Co.,Ltd,which is the leading pharmaceutical industry to step into MSCI rating AA grade in 2021,is selected as a case study to evaluate the quality of ESG information disclosure of WuXi PharmaTech by comparing the timeline and the development trend of the same industry as the axis,both horizontally and vertically.Finally,using WuXi AppTec as an excellent example of ESG information disclosure,we propose optimization suggestions for ESG information disclosure in China,hoping to provide positive theoretical support for biopharmaceutical industry enterprises to carry out ESG information disclosure,and even provide some reference significance for other enterprises in China’s pharmaceutical industry.