Study on the Impact of ESG Performance of Listed Forestry Companies

Based on the data of 146 listed forestry companies from 2013 to 2020,this paper constructs a fixed-effect panel data model to analyze the impact of environmental,social and corporate governance(ESG)performance of listed forestry companies on corporate profitability.The research shows that ESG performance has a significant positive effect on the profitability of listed forestry companies,and large enterprises,non-state-owned enterprises and non-polluting enterprises play a more prominent role in improving the profitability of listed forestry companies.Therefore,forestry enterprises should promote ESG gradually and profitability; government regulators should pay more attention to ESG performance and encourage financial institutions to support ESG performance; policy making departments and ESG evaluation agencies should further improve the implementation rules of ESG information disclosure and ESG evaluation standards.