A Study On The Impact Of The Quality Of Conch Cement’s Carbon Accounting Disclosure On Corporate Value

At the 75th session of the United Nations General Assembly,General Secretary Xi Jinping proposed that“China will increase its independent national contribution,adopt more vigorous policies and measures,strive to peak CO₂ emissions by 2030,and strive to achieve carbon neutrality by 2060”,which puts forward a timetable for energy-efficient enterprises to save energy and reduce consumption,and actively implement the"double carbon"target.In July2021,China initially completed the national carbon emissions trading market,which requires carbon accounting to measure,record and monitor carbon transactions as one of the market economic activities.As a kind of forward-looking environmental accounting information,carbon accounting information is an important means for enterprises to achieve carbon accounting and strengthen carbon emission reduction management.The cement industry is a high energy-consuming and high-emissions industry,so it should actively disclose high-quality carbon accounting information to bring the value of carbon accounting information into play and promote the green development of enterprises.Conch Cement is a leading enterprise in China’s cement industry.Improving the quality of carbon accounting information disclosure and conscientiously fulfilling its social responsibility are key to its sustainable development.Taking 2017 to 2021 as the research period,this paper takes Conch Cement as the research object,evaluates the quality of Conch Cement’s carbon accounting information disclosure using the content analysis method,and analyses the current situation of Conch Cement’s carbon accounting information disclosure;uses the event study method and calculates the evaluation score of comprehensive performance indicators using the entropy value method,and explores the impact of Conch Cement’s carbon accounting information disclosure on the enterprise from two perspectives:short-term and long-term,respectively.The results of the study show that the results of the study show that,firstly,from the perspective of short-term corporate value,positive carbon accounting information disclosure by Conch Cement actively promotes its corporate value;on the contrary,negative carbon accounting information disclosure,whether actively or passively disclosed,reduces Conch Cement’s corporate value.Secondly,in terms of long-term corporate value,Conch Cement’s carbon accounting disclosure can improve its overall corporate performance.Under the effect of carbon accounting information disclosure,Conch Cement’s performance in three areas,namely environmental management,environmental protection and innovation,has steadily improved,thus enhancing Conch Cement’s long-term corporate value.Based on the current situation of carbon accounting information disclosure in Conch Cement and the results of the empirical study,we propose countermeasures to improve the quality of carbon accounting information disclosure in order to enhance the corporate value of Conch Cement in terms of improving the content of carbon accounting information disclosure,enhancing the reliability of carbon accounting information disclosure,strengthening the standardisation of carbon accounting information disclosure methods,and improving the professionalism of carbon accounting personnel,with a view to providing reference for Conch Cement and similar enterprises to improve the level of carbon accounting information disclosure.It is hoped that it can provide reference for Conch Cement and similar enterprises to improve the level of carbon accounting information disclosure.