Based on the national goal of peak carbon dioxide emissions and carbon neutrality, ESG concept has been paid more and more attention in various industries and fields in China. Therefore, it is of great theoretical and practical significance to clarify the relationship between ESG performance and enterprise value in order to enhance the attention of enterprises to ESG. This paper takes the listed companies in Shanghai and Shenzhen A-shares from 2010 to 2022 as the research object, selects 1310 sample companies, and tests the influence mechanism of ESG performance on enterprise value through empirical analysis. The research shows that: (1) Corporate environmental performance has a significant negative impact on enterprise value, while corporate social responsibility, corporate governance performance and ESG comprehensive performance have a significant positive impact on enterprise value, and all of them have a certain lag. (2) Investor confidence plays an intermediary role in the influence of enterprise environment, social responsibility, corporate governance performance and ESG comprehensive performance on enterprise value, but the intermediary effects are different. (3) Media reports have a negative moderating effect between ESG comprehensive performance and corporate value, but there is a positive moderating effect between corporate social responsibility and corporate value. The conclusion of this paper provides an empirical basis for listed companies to attach importance to and improve ESG performance, and provides theoretical guidance and practical enlightenment for China to achieve the goal of “double carbon” and high-quality development of enterprises.