Research On The Motivation And Economic Consequences Of ESG Information Disclosure Of Z Nonferrous Metals Company

With the development of economy and the progress of science and technology,people are facing the problem of serious environmental damage while living conveniently.At this time,enterprises need to actively fulfill their social responsibilities and disclose ESG(Environment,Society and Governance)information in time to practice green economy and sustainable development.ESG information disclosure requires enterprises to pay attention to environmental protection,fulfill social responsibilities,pay attention to the needs of investors and optimize corporate governance structure while developing economy.Non-ferrous metal industry is a typical industry with high energy consumption and high emission.With the strengthening of environmental protection in China,ESG information disclosure of heavily polluting enterprises has become a hot spot of social concern.However,at present,there are many shortcomings in the fulfillment of social responsibility and ESG information disclosure of non-ferrous metals enterprises in China,and the awareness of ESG information disclosure is still weak.The ESG information disclosure of listed companies in non-ferrous metals industry is also far from the expectations of report users.At present,there are few studies on the motivation and economic consequences of ESG information disclosure of enterprises.This paper takes Z Company,a leading enterprise in non-ferrous metal industry,as the research object,which has a relatively perfect ESG information disclosure system,and adopts the methods of literature research,case analysis and event research to make a comprehensive analysis.Starting from the problems in the ESG information disclosure of Z Company,this paper puts forward some suggestions on improving the ESG information disclosure of Z Company and promoting the sustainable development of enterprises.After reading the relevant literature at home and abroad,this paper defines the concepts of ESG and economic consequences,and introduces relevant theoretical concepts to provide theoretical support for case analysis and research.By analyzing the motivation and present situation of ESG information disclosure in Z company,this paper introduces the development course and basic operation of ESG information disclosure in Z company.According to the theory of sustainable development,stakeholders and signal transmission,this paper analyzes the motivation and existing problems of ESG information disclosure in Z company.On this basis,the economic consequences of ESG information disclosure of Z company are analyzed from the economic performance and market performance respectively,and the conclusions are drawn as follows: First,the motivation of ESG information disclosure of Z company includes meeting the government’s mandatory disclosure policy,promoting the sustainable development of enterprises,enhancing the reputation and influence of enterprises,and attracting the attention of stakeholders.Second,there are still some shortcomings in the ESG information disclosure of Z company,and the environmental quantitative information disclosure is not comprehensive enough.Third,ESG information disclosure has positive economic consequences for Z company,which can improve the company’s long-term economic performance,but it has a certain negative impact on the company’s short-term performance.Finally,some suggestions are put forward to improve the ESG information disclosure and improve the performance of Z company.At the same time,it is hoped that this research can provide reference for other high-polluting enterprises of the same type to enhance their awareness of information disclosure,improve the level of ESG information disclosure and promote their long-term development.