公司法下电商企业ESG治理与小股东权益保障研究

Research on ESG Governance and Minority Shareholders’ Rights Protection of E-Commerce Enterprises under the Company Law

摘要: 随着《公司法》的修订实施，ESG理念深度融入公司治理模式，电商企业小股东权益保护获得新的制度方向，通过ESG治理的去中心化重构、董事信义义务拓展，让原有股东中心主义结构转向覆盖更多利益相关方的新结构，最终赋予小股东更多行权空间。通过梳理新《公司法》在控股股东责任强化、小股东赋权机制完善及信息披露义务优化的制度突破，肯定其为ESG框架下小股东权益建立保障。但当前我国ESG信息披露监管尚未落实到位，电商企业的数据治理、算法透明、平台生态等领域的ESG披露仍存在多处问题，小股东参与公司治理的机制也存在运行障碍。通过建立统一ESG披露标准、加大监管执行强度、调整独立董事占比保障独立董事独立性，推动电商企业ESG治理与小股东权益保障深度结合。

Abstract: With the implementation of the revised “Company Law”, the concept of ESG has been deeply integrated into corporate governance models, providing e-commerce enterprises with a new institutional direction for protecting minority shareholders’ rights and interests. This article focuses on two logical discussions: the decentralized reconstruction of ESG governance and the expansion of directors’ fiduciary duties. It aims to shift the original shareholder-centric structure to a new structure that covers more stakeholders, ultimately granting minority shareholders more room for exercising their rights. By examining the institutional breakthroughs of the new “Company Law” in three aspects: strengthening the responsibilities of controlling shareholders, improving the empowerment mechanism for minority shareholders, and optimizing information disclosure obligations, this article affirms its role in establishing safeguards for minority shareholders’ rights and interests under the ESG framework. Currently, China’s ESG information disclosure supervision has not yet been fully implemented, and there are still many issues in e-commerce enterprises’ ESG disclosure in areas such as data governance, algorithm transparency, and platform ecology. The mechanism for minority shareholders to participate in corporate governance also faces operational obstacles. By establishing unified ESG disclosure standards, strengthening regulatory enforcement, and adjusting the proportion of independent directors to ensure their independence, we can promote the deep integration of e-commerce enterprises’ ESG governance with the protection of minority shareholders’ rights and interests.