Abstract: Abstract：Under the pressure of environmental protection, the improvement of the quality of corporate environmental information disclosure has become an urgent problem to be solved. On the basis of reviewing the relevant literature at home and abroad, this paper uses the content analysis method to collect the environmental data of enterprises in heavy polluting industries in Shanghai and Shenzhen stock markets from 2013 to 2017, and constructs the environmental information disclosure index to measure the quality of environmental information disclosure, and brings the degree of marketization into the empirical analysis framework, then uses the OLS model to carry on the empirical research. The results show that: (1) There is a significant positive correlation between the quality of environmental information disclosure and the value of enterprises, that is, environmental information disclosure can play the role of “communication effect”, reduce the degree of information asymmetry between enterprises and the outside world, and promote the significant improvement of enterprise value; (2) The relationship between the quality of environmental information disclosure and enterprise value varies greatly in different degree of marketization. Compared with the enterprises in the region with high degree of marketization, enterprises from the region with lower degree of marketization contribute more to the promotion of value through the disclosure of environmental information. The research results not only provide empirical support for enterprises to improve the quality of information disclosure and strengthen green competitive advantage, but also provide decision-making reference for the government to regulate enterprise behavior.