Current Status of Chinese Enterprises' Carbon Emission and Environmental Disclosure and Their Impacts on Firm ValueTools Bai, Xuezhuo (2022) Current Status of Chinese Enterprises' Carbon Emission and Environmental Disclosure and Their Impacts on Firm Value. [Dissertation (University of Nottingham only)]
AbstractThe issue of carbon emissions has caused many hot topics in 2020. As the world's second largest economy and the largest carbon emitter, China's attitude and behavior are related to the results and efficiency of global carbon emissions management. In September 2020, President Xi Jinping publicly stated in the international community that carbon peaks will be achieved by 2030 and carbon neutrality will be achieved by 2060. China's domestic environmental management issues and carbon emission management issues have attracted great attention in public opinion. In order to explore the current management level and attitude of Chinese companies towards environmental and carbon emissions issues, the social responsibility reports or annual reports of 100 A-share non-financial companies were collected, the ESG scores of these companies by third-party rating agencies were referred, and quantitative and qualitative research method are used in combination. Finally, the following conclusions are drawn: the current level of disclosure of carbon emissions by Chinese enterprises has a great inconsistency, and state-owned enterprises perform better than private enterprises; ESG scores and carbon emission disclosure levels are negatively correlated with corporate value, which indicates that companies with outstanding performance in social responsibility and environmental protection have not received positive feedback from the capital market; Despite this, companies still choose to disclose environment-related information out of the motivation to show that they comply with relevant laws, to establish a good brand image, to share their experience in response to climate change, and to respond to calls from the nation.
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