ESG Environmental Social and Governance is an important indicator for evaluating sustainable development ability ofcompanies encompassing three dimensions environment society and governance. The new energy industry is one of the strategic emergingindustries under China’s 14th Five-Year Plan playing a significant role in building new quality productive forces. This studyis based on data from 184 A-share listed new energy companies and 178 traditional energy companies from 2018 to 2022 employing amultiple linear regression model to empirically analyze the impact of ESG responsibility fulfillment on the economic value of new energyand traditional energy companies and further examine the moderating effect of government subsidies. The findings reveal that fulfillingESG responsibilities significantly enhances the economic value of new energy listed companies with the environmental and social dimensionsmaking the most substantial contributions and this positive impact is stronger than that observed in traditional energy companies.Additionally the positive impact of ESG on economic value is more pronounced in non-state-owned new energy companies thanin state-owned ones particularly in the social and governance dimensions. Government subsidies have an insignificant moderatingeffect on the relationship between ESG and economic value in traditional energy companies but show a significant positive moderatingeffect in new energy companies. This research not only reveals the intrinsic connection between ESG and the economic value of newenergy companies but also provides policy recommendations for achieving the carbon peaking and carbon neutrality goals enrichingempirical studies on ESG in the new energy field.