Academic Context and Theoretical Evolution of ESG Investment

This literature view aims to introduce the shape of investment management in financial industry and research process in recent years with impact and challeges in the future.Meanwhile,On the basis of research and summary of literature, this article will reveal the limitations of ESG research and the area of future study.This paper examines the theoretical evolution of ESG theory primarily from the theoretical basis of ESG investment, the market performance of ESG practice, the core challenges, and the future research, respectively. This is because ESG has developed rapidly since the New Crown Epidemic in 2020, and more investors are using it to make better investment decisions. It draws conclusions by examining the interaction effect between PRI and ESG:ESG integration is a double-edged sword for the transformation of the financial sector.Future research should be devoted to improving the ESG evaluation system, enhancing the legitimacy of corporate environmental performance through ESG ratings, and contributing to long-term corporate financial performance.