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Purpose Against the global sustainable development agenda and low-carbon transition, whether enterprises can enhance green innovation input and long-term value by practicing environmental, social and governance (ESG) value concepts is crucial for promoting high-quality enterprise development and sustainable economic and social development. This study aims to explore the mechanisms by which the ESG value concept impacts enterprises’ green innovation input and long-term value creation. Design/methodology/approach The research uses panel data on Chinese A-share-listed companies from 2010 to 2024, using panel regression, mediating-effect and moderating-effect models for empirical analysis. Findings The results show that the ESG value concept is positively related to enterprises’ green innovation input. This relationship partially mediates the link between the ESG value concept and enterprises’ long-term value. Furthermore, the institutional environment and ownership nature moderate the positive effect of the ESG value concept on green innovation input. Moreover, heterogeneity exists across sectors and regions: the above effects are more pronounced in manufacturing, non-heavy-polluting enterprises, low-marketization regions and non-state-owned enterprises. Originality/value Drawing on the “institution-resource” dual-path logic, a theoretical framework is constructed that specifies the process through which the ESG value concept affects enterprises’ long-term value via green innovation input, expanding the understanding of ESG from the value concept perspective. Furthermore, the boundary conditions (institutional environment, ownership nature) and heterogeneity (based on industry nature, pollution level) are explored, which further address theoretical fragmentation and enrich the extant literature on ESG and green sustainable development.