Against the increasingly severe global environmental and social challenges, environmental, social, and governance (ESG) disclosure is an issue of firm transparency and a manifestation of a firm’s steps toward sustainable development. This study examines the relationship between environmental, social, and corporate governance (ESG) and market performance by focusing on the moderating role of sustainable strategies. Using a sample of 1197 firms in China’s strategic emerging industries from 2018 to 2022, our findings suggest the following: (1) Strong evidence of a significant positive relationship between ESG disclosure and future market performance, in which the dimensions of environmental, social, and controversy show consistent results while governance dimension shows the opposite. (2) The sustainable strategies have an important positive impact on future market performance. (3) Sustainable strategies visibly enhanced the positive relationship between ESG and all dimensions of ESG and future market performance.