会计学院知识库

ESG，由三个英文单词Environmental（环境）、Social（社会）和Governance（治理）的首字母构成，首次出现在联合国于2004年6月发布的《全球契约》中，源起于经济高速增长给社会和环境所带来的负面影响。在利益相关各方的压力下，企业为维护自身运营的合法性，纷纷就环境、社会和公司治理等方面的议题做出积极承诺，开始披露ESG信息。随着2018年6月全球指数供应商明晟（MSCI）将A 股纳入其新兴市场指数和全球基准指数中，预示着中国经济开始融入全球发展进程的同时，也促进了A股上市公司主动加强了ESG治理及信息披露，使自身的ESG绩效不断得到提升。

然而，根据MSCI 在2019 年 11 月公布的ESG评级，我国上市公司整体还落后于新兴市场指数1到2个等级，与全球最佳实践之间差距明显，存在较大的提升空间。特别是关系到生命安全的医药行业，虽然在“产品安全与质量”议题方面领先于全球同业的表现，但在腐败及不稳定性和碳排放等议题中落后于全球同业。随着2020年新冠疫情的出现，A股市场医药板块多次出现暴走行情，但与此同时，ESG负面事件也频频爆发。在这场大变局中，ESG绩效已成为医药行业稳健经营的主要衡量因素之一，迫切需要以信息披露要求倒逼企业提升ESG管理水平。

由此，本文以责任投资发展形势向好，尤其是新冠疫情促使人类反思旧有发展模式作为研究背景，依托三重底线、利益相关者和信息不对称等理论，采用文献分析法，通过整理对比国内外主流ESG评级体系，运用层次分析和模糊综合评价构建医药行业ESG信息披露评价体系。随后，以荣获“2020金勋章奖年度上市公司社会责任大奖”的“复星医药”为案例，对所构建的医药行业ESG信息披露评价体系的适用性加以验证。结果表明，所构建的评价体系适用性良好，有助于医药企业尽快提升对 ESG 的认知，追随全球统一的 ESG 标准，将披露ESG实质性信息作为起点，促进行业长期的可持续发展。

ESG, comprising of the initials of three English words Environmental, Social and Governance, to begin with showed up within the Worldwide Compact discharged by the Joined together Countries in June 2004, and started from the negative affect of fast financial development on society and the environment. Beneath weight from partners, companies have made dynamic commitments on natural, social and corporate governance issues and begun to reveal ESG data in arrange to preserve the authenticity of their operations. With the consideration of A-shares in its Rising Markets List and Worldwide Benchmark File by worldwide file supplier Ming Sheng (MSCI) in June 2018, proclaiming the starting of China's financial integration into the worldwide advancement prepare, it has too advanced A-share recorded companies to require the activity to reinforce ESG administration and data divulgence, so that their claim ESG execution has been ceaselessly progressed.

However, according to the ESG rating released by MSCI in November 2019, my country's listed companies as a whole are still 1-2 levels behind the emerging market index, and there is a clear gap with global best practices, and there is a lot of room for improvement. In particular, the pharmaceutical industry, which is related to life safety, is ahead of its global peers in terms of "product safety and quality", but slacks behind its worldwide peers in issues such as debasement, flimsiness, and carbon emanations. With the emergence of the new crown epidemic in 2020, the pharmaceutical sector of the A-share market has repeatedly seen rampant market conditions, but at the same time, negative ESG incidents have frequently erupted. In this great change, ESG performance has become one of the main measurement factors for the steady operation of the pharmaceutical industry, and it is pressing to constrain companies to move forward their ESG administration level through data divulgence prerequisites.

Thus, this paper takes responsibility investment development situation is good, especially the new crown outbreak prompted human reflections on the old development model as the research background, relying on the triple bottom line, stakeholders and information asymmetry theory, using the method of literature, through contrast mainstream ESG rating system at home and abroad, using the analytic hierarchy process and fuzzy comprehensive evaluation ESG disclosure evaluation system construction of medical industry. Fosun Pharma, which won the "2020 Brilliant Emblem Grant for Social Obligation of Recorded Companies", was utilized as a case consider to confirm the appropriateness of the developed ESG disclosure assessment framework within the pharmaceutical industry. The comes about appear that the assessment framework is pertinent and will offer assistance pharmaceutical companies to progress their information of ESG as before long as conceivable, take after the worldwide bound together ESG standard, and take ESG revelation as a beginning point to advance the long-term maintainable advancement of the industry.