Abstract: This paper used the DEA-BCC model to calculate the comprehensive technical efficiency of 23 paper mills based on data from 2016 to 2022. It constructed a Tobit model to study the impact of ESG performance on financing efficiency in paper mills. Research found that the higher the ESG performance score,the higher the financing efficiency of paper companies. It analyzed the reasons from three aspects:environmental (E),social (S),and corporate governance (G),and it proposed suggestions from the perspectives of enterprises,governments,and investorsbased on the conclusions drawn from the research.