Research On The Impact Of Enterprise Carbon Performance On Carbon Information Disclosure Strategy

At present,China has not yet established a sound carbon information disclosure mechanism.The disclosure degree and utilization rate of carbon information by enterprises and their stakeholders are very low.However,the economic pressure brought by environmental problems is increasingly severe.The ?overall goal of the 13 th Five-Year Plan of Work on Controlling Greenhouse Gas Emissions? has pointed out that China's carbon dioxide emission statistical accounting,assessment and accountability system need to be improved by 2020.Therefore,accelerating the construction and improvement of China's enterprise carbon information disclosure system is the key content of the country.Based on the above background,this paper takes Standard & Poor's 500 Company in 2015 as a sample,focusing on corporate carbon information disclosure,mainly discusses the following three issues: the impact of corporate carbon performance on carbon information disclosure? Does the company have carbon information disclosure strategy? Which carbon information disclosure projects have disclosure strategies? So as to provide empirical evidence and reference opinions for the construction of China's carbon information disclosure system.The main idea of this paper is to collect manually the score of carbon information disclosure level and carbon performance grade of S&P 500 enterprises in the CDP report of the International Carbon Information Disclosure Organization in 2015 to verify the relationship between carbon performance and carbon information disclosure,and divide the CDP carbon information disclosure report items into "hard carbon information" and "soft carbon information" according to the type of information.The empirical regression analysis is carried out to study whether companies with different levels of carbon performance have carbon information disclosure strategies,that is,whether companies with different levels of carbon performance have different degrees of disclosure of soft carbon information or hard carbon information;and in further analysis,according to the results of the mean test,the paper explores the specific items on which there are disclosure strategies.Through research and analysis,the following conclusions are drawn: overall,there is a positive correlation between carbon performance and carbon information disclosure,that is,the better the carbon performance of enterprises,the more inclined to carry out carbon information disclosure,generally supporting the "voluntary disclosure theory";but in part,enterprises will have strategies for carbon information disclosure,when the carbon performance of enterprises is medium or high,enterprises will increase.The degree of disclosure of "soft carbon information" is not significantly different from that of enterprises with the best carbon performance,which supports the "legitimacy theory";in the disclosure project,unlike expectations,companies with poor carbon performance will also disclose on the "total carbon emissions" disclosure project,while "third-party certification of carbon information" and "standardized carbon emissions credit".On such items as interest,there is a significant difference in the degree of corporate disclosure.The degree of corporate disclosure with good carbon performance is significantly greater than that with poor carbon performance.This reflects that such hard carbon information projects are more difficult to imitate than objective carbon emission information disclosure projects,and there is no "green manipulation" space.We should increase the setting and proportion of such projects in the carbon information disclosure system.This paper focuses on specific carbon information disclosure projects for the first time,explores the issues of corporate carbon information disclosure strategy,and explores the specific projects on which there will be disclosure strategies.And the CDP carbon Information Disclosure Project in 2015 is divided into "hard" and "soft",which can provide reference for future research.This paper supplements the theory of corporate carbon performance and carbon information disclosure,enriches the content of China's carbon accounting field,and provides new theoretical and empirical support for the construction of China's future carbon information disclosure system.