Research on the Relationship among Inclusive Green Development,Environmental Protection and Financial Performance——Empirical analyses based on the three elements of ESG
The construction of an inclusive green low-carbon economy is conducive to the promotion of high-quality economic development.With the advent of the green economy boom,the relationship between ESG and carbon,and the economic benefits and value of ESG have received considerable attention.This paper utilizes the listed companies in the Shanghai and Shenzhen stock exchanges in Chi-na as a case study.The study assigns 10 indicators to the three dimensions of environment,society and corporate governance.The csQCA(crisp-sets QCA)method is employed to validate the impact of different combinations of ESG factors on the financial status of listed com-panies.The results demonstrate that environmental efficiency and management-driven grouping of the two conditions can improve the fi-nancial performance of enterprises.Whether enterprises focus on environmental performance and improve governance mechanisms,or strengthen internal control and risk management and improve governance capacity,it helps them to obtain better economic benefits.There-fore,enterprises should actively practice green innovation,promote green development around the"dual-carbon"goal,integrate ESG con-cepts into corporate strategy and decision-making,strengthen internal control and departmental cooperation,and further enhance the com-prehensive competitiveness of listed enterprises in China.
green developmentESG investmentfinancial performanceenvironmental innovation
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