西安交通大学学报（社会科学版）2025，Vol.45Issue(1)：1-12,12.DOI:10.15896/j.xjtuskxb.202501001
ESG发展20年:回溯与瞻望
20 Years of ESG Development:Backtrack and Prospect
摘要
Abstract
The concept of ESG(environmental,social and governance),officially proposed in 2004,has now been around for 20 years.Over the past two decades,ESG development has evolved from a conceptual proposal to practical implementation,and from voluntary initiative to global consensus.However,the current global ESG development has been obviously polarized,facing unprecedented multiple challenges,and is at a new crossroads.In this context,it is of great value and significance to systematically review and backtrack the evolution of ESG over the past 20 years,deeply explore its evolutionary characteristics and laws,and deeply insight into the trend and direction of future ESG development,in order to promote the steady and sustained growth of ESG development. According to the differences in the driving force,focus and degree of development,the development of ESG in the past 20 years can be roughly divided into fourstages:2004-2009 is the initial stage of exploration.In this stage,the concept of ESG was formally proposed,the ESG investment philosophy was formally formed,and the practical exploration of ESG began to take off.The main driving force behind the development of ESG was international organizations,with the focus on ESG investment,and the practical subjects were limited to a few leading financial institutions.2010-2014 is the initial stage of emergence.In this stage,the diversified forces driving ESG development were initially formed,and the focus of ESG was expanded from ESG investment to corporate ESG practice,basically forming a pattern of parallel progress of ESG investment and corporate ESG practice,and the prototype of ESG ecosystem began to appear.2015-2020 is the rapid development stage.In this stage,ESG investment grows rapidly,corporate ESG practices are rapidly promoted,and ESG value chains and ecosystems are basically formed and expanding at an accelerated pace.2021 to the present is the standardized development stage.In this stage,emphasizing regulation and promoting development become the core of ESG policy,global ESG development is generally stable but gradually differentiated,ESG investment growth slows down and stage adjustment occurs,corporate ESG practices become more rational,and the global ESG ecosystem crosses the critical point of survival and gradually matures. Over the past 20 years,the evolutionary logic of ESG development can be summarized in four aspects:first,the progressive institutional arrangements.The global ESG system supply has generally evolved along the two logical paths of increasing institutional rigidity and expanding institutional boundaries.The second is the compatibility of international rules.International organizations have shifted from independently formulating and launching ESG international standards,frameworks,principles,and initiatives to cooperating and acting together,and the coordination,compatibility,and interoperability of ESG international standards,frameworks,principles,and initiatives have been continuously strengthened.The third is diversified subject practice.Since the concept of ESG was formally proposed,investors and enterprises responding to the concept of ESG have gradually shifted from"minority"to"mass",and the practice of ESG investment and corporate ESG practice has moved from an exploratory start to rapid advancement and standardized development.Finally,it is a self-organized ecosystem,and the development of ESG ecosystem has gone through the process of"conception-prototype-basic formation-crossing the critical point"and is gradually moving towards maturity,forming a complete ecosystem that includes all kinds of ecological subjects and covers all value chain activities of ESG. Looking ahead,the trend of global ESG development has not changed,and ESG will continue to move forward amidst controversies and challenges.However,the deepening transformation of ESG is extremely urgent and has a long way to go.ESG development will enter a new stage of deepening transformation,and the ESG ecosystem will be dynamically optimized and move towards maturity.关键词
ESG/制度安排/国际规则/主体行为/生态系统/企业社会责任/可持续发展Key words
ESG(environmental,social and governance)/institutional arrangement/international rules/subject behavior/ecosystem/corporate social responsibility/sustainable developments分类
资源环境引用本文复制引用
肖红军..ESG发展20年:回溯与瞻望[J].西安交通大学学报（社会科学版）,2025,45(1):1-12,12.基金项目
国家社会科学基金重大项目(20&ZD073) （20&ZD073）
中国社会科学院登峰战略企业管理优势学科建设项目(DF2023YS25). （DF2023YS25）
