Sustainable Board Governance, Corporate Social Responsibility Fulfillment, and Differences in ESG Information Disclosure: A Comparative Case Study of Conch Cement and Qingsong Jianhua Co., Ltd.

Abstract

Under the background of the deepening concept of sustainable development, the ESG framework has put forward important requirements for the green governance of high-emission and heavily polluting industries. Based on the governance practice of two cement-listed enterprises with the same state-owned holdings and the same regulatory environment, this study explores the transmission path from sustainable board governance to corporate ESG performance. By analyzing the practical differences of enterprises in the three levels of governance structure setting, responsibility implementation results and information disclosure quality under the ESG framework, we clarify the core role of the green decision-making mechanism of the board of directors in environmental responsibility and the fulfillment of social responsibility, and deeply analyze the real problems such as structural deficiencies, insufficient incentives, and non-standardized disclosure practices in the current ESG development of heavily polluting state-owned enterprises. Subsequently, targeted countermeasures were put forward, such as improving the internal governance system, developing innovative green decision-making mechanisms, adjusting the assessment incentive mechanism, strengthening mandatory requirements for ESG disclosure, and improving the professional ability of directors, so as to promote the green and sustainable development of heavily polluting enterprises. Finally, summarize the research conclusions and emphasize that the achievement of ESG goals by heavily polluting enterprises requires the coordination of internal governance and external supervision.