在可持续发展理念成为全球化共识的背景下，环境、社会与治理（ESG）议题正成为全球日益关注的重要议题，ESG投资也逐渐成为现代社会责任投资的重要战略体现。随着该理念在全球范围内的快速发展和演变，尤其在是伴随着中国“双碳”目标的加速普及，许多上市公司已自愿发布ESG报告，并通过评级机构的ESG评级表现，不断进行自我革新，以提升企业的透明度和盈利能力。中国建设银行获MSCI三年A级评级，在ESG投资领域表现出色，并在普惠金融、员工权益、公司治理和风险管理上取得优异成绩，但环境维度评分相对业内并不顶尖，揭示出在环保和绿色金融等方面还有提升空间。基于此，本文以中国建设银行为例，全面分析考查ESG投资对中国建设银行盈利能力的影响，为进一步提升建行的盈利能力提供政策建议，具有重要的理论和实践意义。

本文首先对ESG投资与银行业盈利能力的相关研究进行了概念界定和理论研究，并对ESG投资对商业银行盈利能力的影响机制进行了分析；其次，本文选取中国建设银行为研究对象，从中国建设银行的发展情况、ESG投资、盈利能力现状等进行了详细梳理，并与15家商业银行的ESG情况进行了对比分析，全面考查了中国建设银行的ESG对其盈利能力影响的现实情况；然后，从总体和结构的视角，通过采用2009-2022年共14年的中国建设银行季度数据作为研究样本，借助华证ESG评级指数，通过统计检验和模型回归，系统性探究了ESG投资对中国建设银行盈利能力的影响及作用机制；最后，在对上述内容进行全面分析整理的基础上，提出了进行ESG创新以进一步提升中国建设银行盈利能力的对策建议。

通过对ESG投资对中国建设银行的盈利能力的研究，本文得出以下结论：（1）中国建设银行近年来在盈利能力方面遇到了挑战,为应对这些问题，中国建设银行努力提升自身在环境、社会和治理方面的绩效，积极采取了ESG相关的行动，降低潜在的非财务风险，提高声誉和品牌价值，最终得以实现成本控制与盈利稳定。（2）ESG投资对中国建设银行的盈利能力存在有效的促进作用。在替换核心解释变量与被解释变量后，ESG投资的系数依旧为正且显著，进一步验证了实证结果的稳健性。通过以中国建设银行为样本的作用机制分析发现，ESG投资有助于缓解银行融资约束、降低银行财务风险、提升银行创新能力，从而提升盈利能力。（3）通过探究ESG投资对中国建设银行盈利能力的结构性影响发现，ESG投资的不同维度对中国建设银行盈利能力的影响程度不同，环境投资对中国建设银行的盈利能力促进作用最为显著。因此，中国建设银行为提升盈利能力，应当重点关注环境投资，实现更有效的盈利绩效增长。（4）从创新ESG融资渠道、完善ESG信息披露、推动ESG科技创新、着力发展环境投资投资等方面提出针对性建议，以期更好地促进中国建设银行银行盈利能力的提高。

Under the background that the concept of sustainable development has become a global consensus, environmental, social and governance (ESG) issues are becoming an increasingly important topic of global concern, and ESG investment has gradually become an important strategic embodiment of modern socially responsible investment. With the rapid development and evolution of this concept around the world, especially with the accelerated popularization of China's "dual carbon" goal, many listed companies have voluntarily released ESG reports and continuously innovates themselves through the ESG rating performance of rating agencies to improve corporate transparency and profitability. China Construction Bank has been awarded A three-year A rating by MSCI, with outstanding performance in the field of ESG investment, and excellent results in inclusive finance, employee rights, corporate governance and risk management, but the environmental dimension score is not among the top in the industry, revealing that there is still room for improvement in environmental protection and green finance. Based on this, this thesis takes China Construction Bank as an example to comprehensively analyze and examine the impact of ESG investment on the profitability of China Construction Bank and provide policy suggestions for further improving the profitability of China Construction Bank, which has important theoretical and practical significance.

Firstly, this thesis defines the concept and theoretical research of ESG investment and banking profitability and analyzes the influence mechanism of ESG investment on commercial bank profitability. Secondly, this thesis selects China Construction Bank as the research object, combs the development, ESG investment and profitability status of China Construction Bank in detail, and makes a comparative analysis with the ESG status of 15 commercial banks to comprehensively examine the realistic situation of the impact of China Construction Bank's ESG on its profitability. Then, from the perspective of overall and structure, by using the quarterly data of China Construction Bank from 2009 to 2022 as research samples, using the ESG rating index of China Securities, through statistical testing and model regression, this thesis systematically explores the impact and mechanism of ESG investment on the profitability of China Construction Bank. Finally, based on the comprehensive analysis of the above contents, the thesis puts forward some countermeasures and suggestions on ESG innovation to further improve the profitability of China Construction Bank.

Through the study of the impact of ESG investment on the profitability of China Construction Bank, this article concludes that: (1) China Construction Bank has faced challenges in profitability in recent years. To address these issues, China Construction Bank has made efforts to improve its performance in environmental, social, and governance aspects, actively taking ESG related actions to reduce potential non-financial risks, enhance reputation and brand value, Ultimately, cost control and profit stability were achieved. (2) ESG investment has an effective promoting effect on the profitability of China Construction Bank. After replacing the core explanatory variable and the dependent variable, the coefficient of ESG investment remained positive and significant, further verifying the robustness of the empirical results. Through the analysis of the mechanism of action using China Construction Bank as a sample, it is found that ESG investment helps to alleviate bank financing constraints, reduce financial risks, enhance bank innovation capabilities, and thus enhance profitability. (3) By exploring the structural impact of ESG investment on the profitability of China Construction Bank, it was found that different dimensions of ESG investment have varying degrees of impact on the profitability of China Construction Bank. Environmental investment has the most significant promoting effect on the profitability of China Construction Bank. Therefore, in order to enhance profitability, China Construction Bank should focus on environmental investment and achieve more effective profit performance growth. (4) Targeted suggestions are proposed from the aspects of innovating ESG financing channels, improving ESG information disclosure, promoting ESG technology innovation, and focusing on developing environmental investment, in order to better promote the improvement of the profitability of China Construction Bank.

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