中国上市公司ESG价值核算报告（2025年）-责扬天下中上协

Core Insights - The report focuses on the monetization of ESG value accounting, analyzing the ESG performance of A-share and Hong Kong-listed companies in 2024, and exploring the application of accounting systems in investment and corporate operations to support sustainable development [1]. Group 1: ESG Performance Overview - In 2024, 2,373 companies achieved a positive net impact, an increase of 934 companies year-on-year, with the banking and computer industries leading in positive representation [2]. - The disclosure rate of ESG reports reached 54.66% in 2024, with significant improvements in environmental and social key indicators, and the number of A-rated companies for carbon emission data increased by over 50% compared to 2022 [1][33]. - 3,460 companies created positive social value, with contributions in tax intensity and employee training investments, and the net value for common prosperity grew by over 20% year-on-year [2]. Group 2: ESG Risk and Opportunity Value - Approximately 3,200 companies exhibited visible opportunities, accounting for nearly 60%, with over 60% of companies showing environmental opportunities and a growth of over 10% in social opportunity companies compared to 2023 [2]. - The report indicates that ESG net value and risk opportunity factors have good stock selection effectiveness, with backtesting showing positive cumulative excess returns from 2018 to August 2025 [2][12]. Group 3: Industry-Specific ESG Insights - The agriculture, forestry, animal husbandry, and fishery sector had 84.85% of companies generating positive social impacts, while the beverage and dairy industry had 63.83% of companies showing ESG opportunities [3]. - The food processing industry excelled in waste emission control, but there remains room for improvement in areas like common prosperity and employee training [3]. Group 4: Future Directions and Recommendations - ESG reports are expected to become the "new language" for sustainable disclosure, driving upgrades in corporate management paradigms and supporting sustainable investment and governance [3]. - Companies are encouraged to enhance the quality of ESG data disclosure, while investors should incorporate ESG accounting factors into decision-making [3]. - The report emphasizes the need for further refinement of accounting standards and incentive mechanisms at the policy level to promote a virtuous cycle of "disclosure - accounting - improvement" [3].