| As a responsible investment strategy and the mainstream system of non-financial information disclosure,ESG has attracted the attention of the market for its characteristics of taking into account both economic efficiency and sustainable development.Large and medium-sized companies around the world have also disclosed ESG reports one after another,and the concept of ESG is popular in all major capital markets.China’s goal of high-quality economic development and new development concept are the best interpretation of ESG localization.The five dimensions of environment,society and governance are connected with innovation,green,open,coordination and sharing.In the new development concept and innovation driven strategy under the guidance of birth,as a new force in the development of high quality,win the board is the content of cohesion,innovation with ESG and promote each other relationship,the formation of new development concept ESG the STAR Market development is necessary,therefore,research as ESG system basal ESG kechuang company information disclosure is necessary.The STAR Market,with its "hard technology" nature,is known as the Chinese version of NASDAQ.It attaches great importance to the information disclosure work of ESG,but the overall performance is general and there are a series of problems.Therefore,this paper summarizes the reasons for selecting CSR report for research and report compilation standard selection.Focus on the analysis of ESG information disclosure documents of the the STAR Market :(1)Analyze the direction of ESG disclosure of the science and technology innovation company according to the requirements of substantive issues;(2)Analyze the disclosure work policy of ESG based on the evaluation principle of information disclosure;(3)The specific forms of ESG disclosure of science and technology innovation companies are analyzed based on the information of raised fund,R&D and core technical personnel,R&D investment and technological achievements,and proof of scientific research strength.Based on the analysis conclusion of the documents of the STAR Market and the basis for the use of various types of reports at home and abroad,the ESG information disclosure evaluation system suitable for the listed companies of the STAR Market was discussed by topics,and the final confirmation was carried out through questionnaire survey.The scores of the 50 index companies of the the STAR Market were statistically analyzed.SMIC is the representative case company with excellent disclosure evaluation score,and the current situation and problems of ESG information disclosure were compared and revealed,and several conclusions were drawn :(1)The overall disclosure level should be improved;(2)The overall disclosure standards are not uniform and standardized;(3)good ESG information disclosure can bring some positive economic consequences;(4)beware of "greenwashing" ESG disclosure.On the one hand,this paper enriches the theoretical research on ESG information disclosure of the STAR Market in China and creatively analyzes the content of the STAR Market documents.On the other hand,this paper provides scientific innovation enterprises with inspirations on report disclosure,institutions and investors with reference to update rating standards,as well as scientific investment decision-making guidance,and regulatory authorities with relevant policies and regulatory measures.This paper believes that there is still a long way to go for ESG information disclosure of the STAR Market and the development of ESG in China.In the future,it is necessary to enhance the awareness of ESG information disclosure from the level of science and technology innovation enterprises,institutions,investors and regulatory authorities,improve the ESG system management system,and invest in the construction of ESG information database.We will continue to promote the development of the STAR Market(ESG),and help implement the high-quality development goals and new development concepts of China’s economy. |
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