Abstract
As the basis of ESG rating, ESG information disclosure has gradually moved from a niche investment concept to a mainstream trend in recent years, which plays a key role in the ESG investment process. However, many enterprises still choose not to disclose relevant information for reasons such as controlling costs and reducing negative information output. For enterprises in the same industry with competitive relations, different choices made by both parties may bring about impacts on enterprise competitiveness, financing cost, strategic transformation, and regulation and policy formulation. This paper, from the perspective of enterprises and their competitors in the same industry, uses the game theory model to put forward suggestions for improving enterprises' strategic choices. By establishing a game model to promote the establishment or improvement of ESG management systems within enterprises, enterprises can seek the balance between cooperation and competition in the game, and finally achieve the overall sustainable development in their respective industries.
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