全球ESG投资发展与中国实践研究

Research on the development of global ESG investment and China’s practice

ESG作为一种可持续发展价值理念、投资策略和评估工具,是推动实现“双碳”目标的有力抓手。国内外ESG的多数文献研究表明,ESG信息披露可以促进企业减排和承担社会责任,且ESG与企业财务绩效之间大多呈正相关的关系。然而,目前国内外对ESG三个变量尚未形成统一的指标体系,尤其是国内研究多集中在ESG某个单一因素,缺乏全面的评估。结合全球ESG信息披露标准与评级实践情况,本文总结了欧盟、美国、英国、日本等发达国家和地区在ESG领域的经验,并进一步分析了中国ESG投资发展现状,指出目前国内在信息披露、ESG数据、评级机构影响力、投资实践等方面面临的挑战,提出下一步应重点完善ESG监管制度体系、推进ESG信息披露与评价体系建设、加强ESG市场主体能力等建议。

As a sustainable development value concept,investment strategy and evaluation tool,ESG is a powerful starting point to promote the realization of the“dual carbon”goal.Most of the literature studies on ESG at home and abroad show that ESG information disclosure can promote corporate emission reduction and social responsibility,and there is a positive correlation between ESG and corporate financial performance.However,at present,there is no unified index system for the three variables of ESG at home and abroad,especially in domestic research,which focuses on a single factor of ESG,and lacks a comprehensive evaluation.Combining global ESG information disclosure standards and rating practices,this article summarizes the experience of developed countries and regions such as Europe,the United States,the United Kingdom,and Japan in the ESG field,and further analyzes the current status of ESG investment development in China,pointing out that the current domestic progress in information disclosure,ESG Challenges faced in data,rating agency influence,investment practices,etc.,and suggestions are put forward that the next step should focus on improving the ESG regulatory system,promoting the construction of the ESG information disclosure and evaluation system,and strengthening the capabilities of ESG market entities.