| In order to achieve sustainable development,enterprises should not only realize short-term business objectives and consider the cost benefits generated by their business activities,but also meet the needs of future development and consider the external costs derived from their business activities(economic externalities of economics).Traditional performance evaluation methods are mainly based on short-term financial indicators to evaluate the cost effectiveness of enterprises,which easily leads to short-term behavior of enterprises and is not beneficial to the long-term development of the company.ESG(Environmental,Social and Governance),as a new type of corporate performance evaluation tool,can help companies identify key factors in the sustainable development process,understand the risks and problems in the sustainable development process,and improve the company’s sustainability by meeting the needs of various stakeholders in order to achieve a high-quality development strategy for the company.With the proposal of the national carbon peak carbon neutrality goal,China’s energy development will enter the new stage of taking clean development as the main line and transforming to low-carbon development,and the operation of the coal industry with high pollution and high emissions is facing severe transformation challenges.Based on the above background,this paper takes China Shenhua Energy Company Limited(hereinafter referred to as China Shenhua),a leading coal enterprise,as the research object,studies the construction and application of the company’s performance evaluation system based on ESG concept,and explores a new performance evaluation system suitable for China Shenhua.Firstly,this paper reviews the concepts,literature and theoretical basis of ESG and corporate performance evaluation,analyzes the problems existing in the existing performance evaluation system of China Shenhua,and points out the necessity and feasibility of introducing ESG.Secondly,according to the design principles of scientificity,systematization,goal-orientation and applicability,this paper combines ESG index and financial performance index to evaluate the performance of China Shenhua from four aspects of finance,environment,social responsibility and corporate governance,and uses the analytic hierarchy process(AHP)and entropy method to determine the weight of each index.Thirdly,according to the actual operation situation and relevant information of China Shenhua from 2018 to 2021,the performance evaluation system based on ESG of China Shenhua is applied and compared with other companies in the same industry.The results show that the total ESG performance score of China Shenhua from 2018 to 2021 shows an overall growth trend,indicating that the sustainable development of the enterprise is in a good situation.From different dimensions,the environmental dimension and the dimension of social responsibility performance score increased year by year,but the performance of financial dimension scores showed a trend of rise after falling first,corporate governance dimension performance scores decline year by year,reflecting the company’s investment in environmental protection and social responsibility in recent years has gradually emerged.However,financial performance was somewhat volatile due to factors such as the COVID-19 pandemic and the industry environment.Compared with the performance evaluation results of companies in the same industry,the overall score of China Shenhua keeps a leading position among the four companies,but its performance in the dimensions of environment and corporate governance needs to be strengthened,and recommendations for improvement were subsequently made.Finally,the paper summarizes the research conclusions and puts forward the shortcomings and prospects of this paper. |
