The Environmental, Social, and Governance (ESG) framework has emerged as a critical determinant of corporate sustainability, particularly in the financial sector, where ESG performance shapes investor decision-making and risk assessment. This study examines the impact of ESG initiatives on enterprise value in 37 A-share listed Chinese commercial banks (2016–2022) through panel regression analysis. Results reveal a statistically significant positive correlation between ESG performance and enterprise value in commercial banks. The findings suggest that strategic enhancement of ESG dimensions can strengthen commercial banks’ sustainable development competencies and generate long-term value appreciation. This research offers theoretical and practical implications for optimizing financial resource allocation, standardizing corporate governance practices, and promoting value creation through ESG performance improvement in the banking sector.