The Relationship Between ESG Ratings and Government Subsidy Efficiency in New Energy Vehicle Enterprises

Haoyang Sun ()
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Haoyang Sun: University of Waterloo, Sustainable Finance

A chapter in Proceedings of the 2025 International Conference on Hybrid Commerce, Human Capital, and Economic Dynamics (ICHCH 2025), 2026, pp 458-468 from Springer

Abstract: Abstract As the urgency to fight against climate change has increased worldwide, the new energy vehicle (NEV) industry has emerged as a leading force to push for energy transition. With carbon neutrality goals being set in many countries globally, ESG (Environmental, Social, and Governance) metrics are slowly taking over as some of the key metrics for corporate investment decisions. This study focuses on the interaction between government subsidies and ESG metric performances of different NEV enterprises. Addressing the differences in subsidies and policy differences across countries, this study selects three leading NEV manufacturers, Tesla (USA), BYD (China), and Volkswagen (Germany), as research samples. While using public data and credible secondary data, including ESG reports and government subsidy reports (2019-2023), this study combines case research and quantitative analysis. By using the Sustainalytics framework to standardize cross-country ESG data, the system calculates the performance between ESG scores and government subsidies. The research findings will provide data and evidence for governments to optimize subsidizing policies while uncovering the dynamic impact of auto company’s different ESG strategies on their policy responsiveness.

Keywords: ESG; Renewable Energy; New Energy Vehicle; Policies; Development (search for similar items in EconPapers)
Date: 2026
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Persistent link: https://EconPapers.repec.org/RePEc:spr:advbcp:978-2-38476-585-0_52

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DOI: 10.2991/978-2-38476-585-0_52

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