Research On Beer Enterprise ESG Information Disclosure

With the increasing research on the concept of sustainable development at home and abroad,the ESG system is gradually being improved as people pay more attention to environmental,social and governance(ESG).As the most fundamental part of the ESG system,ESG information disclosure has been gradually incorporated into the scope of Chinese regulators,investors and management of listed companies in assessing the sustainability of companies.In order to achieve the major strategic plan of “achieving peak carbon by 2030 and carbon neutrality by 2060”,China has issued a series of ESG-related guidance documents to promote the development process of ESG information disclosure,while taking listed companies held by central enterprises as “leaders”.At the same time,with listed companies held by central enterprises as the “leaders”,we aim to achieve the goal of “full coverage” of ESG-specific reports by 2023.The alcohol industry is one of the most polluting industries in China and is seeking to transform and upgrade its structure in recent years,so more and more companies in the industry are choosing to disclose ESG reports.This paper takes Tsingtao Brewery Co.,Ltd.as an example,and explores the motivation for Tsingtao Brewery to disclose its ESG reports,supported by sustainability theory,stakeholder theory and signaling theory;focuses on the content of Tsingtao Brewery’s 2016-2021 ESG reports from the perspectives of reporting elements,segments,disclosure basis and specific indicators,and selects 20 companies in the same industry,including Tsingtao Brewery.On the basis of this analysis,the consequences of ESG disclosure for Tsingtao Brewery are discussed from the financial and non-financial perspectives.The conclusions of this paper are as follows: firstly,the quality level of ESG reports in the alcohol industry needs to be improved;secondly,the ESG report of Tsingtao Brewery has balanced the mainstream document guidelines and industry characteristics in terms of content,which can provide a reference for other companies to disclose ESG reports;thirdly,ESG information disclosure has brought positive consequences to Tsingtao Brewery,alleviating the financing constraints faced by the company and improving its performance,bringing reputational and environmental benefits to the company.In order to improve the quality of ESG reports for companies in the alcohol industry,this paper makes the following recommendations: first,improve the ESG disclosure process;second,ensure the completeness of ESG disclosure;third,add special features of the alcohol industry to ESG reports;and fourth,maintain the consistency of ESG report logic.