Research On The Impact And Path Of Huaneng International's ESG Responsibility Fulfillment On Corporate Performanc

Global response to climate change and protection of non-renewable resources is the consensus of world development,in the 60-70 s of the last century,the concept of ESG germinated development,due to the increasingly prominent problems of developed countries "heavy economy over the environment",the United States took the lead in launching an environmental protection campaign,calling on the international community to jointly establish environmental protection agencies,including promoting the establishment of the United Nations Environment Programme.The international community has gradually emerged green consumption and advocated sustainable development of enterprises.Global investors are increasingly focused on ESG,and affected by economic globalization,multinational cross-border enterprises attach importance to the ESG performance of relevant partners,and influence the choice of partners through production chains and supply chains.Enterprises from all over the world have joined the implementation of ESG responsibilities to improve their brand image and maintain their long-term development.In 2012,HKEX issued the first ESG Reporting Guide in China as a voluntary disclosure recommendation for listed companies,and by early 2016,HKEX had upgraded some of the recommendations to the semi-mandatory disclosure level,implementing the "disclose or explain" rule.As a result,there was a wave of ESG responsibility fulfillment in the mainland market,and ESG reports were disclosed the following year.In order to study the impact of ESG responsibility performance on corporate performance and its impact path,this thesis adopts the case analysis method,the event research method and the grey correlation analysis method.Firstly,this thesis introduces the relevant background and significance of ESG responsibility performance,summarizes relevant domestic and foreign research,selects Huaneng International,a traditional heavy polluting thermal power enterprise,as the research object,analyzes from a micro perspective,explores the impact of ESG responsibility performance on enterprise performance and analyzes the path.Secondly,market performance,financial performance,innovation performance,and social performance are taken as the four indicators of enterprise performance.First,good ESG responsibility performance through the event research method has an improving effect on market returns.Second,the impact of ESG responsibility performance on financial performance is comprehensively evaluated based on corporate profitability,debt repayment,operation and development capabilities,and the study shows that its impact on financial performance is limited,and thirdly,through ESG report and annual report data analysis,ESG responsibility performance has a significant improvement effect on innovation performance and social performance.Finally,the analysis shows that ESG responsibility fulfillment is mainly achieved by reducing production costs,transmitting positive signals for enterprise transformation,optimizing equity structure and governance structure,improving employee quality,building a supply chain ecology and reducing financing pressure.Finally,based on the above research,the research conclusions are drawn and the four enlightenments obtained from the research process show that ESG responsibility performance is the only way for sustainable development and high-quality operation of enterprises,and each enterprise should actively explore the methods and paths suitable for its own ESG responsibility fulfillment,seize opportunities,improve brand value,and reconstruct core competitiveness.