Green innovation has become a core driving force for promoting sustainable development, making the accurate evaluation of enterprises’ green innovation efficiency an important research topic. Based on the Environmental, Social, and Governance (ESG) framework, this paper improves the SBM model to overcome shortcomings such as homogeneity in traditional SBM models during efficiency evaluation. By introducing an asymmetric slack measure, it breaks through the limitation of efficiency value ceilings, enabling gradient ranking of decision-making units and precisely distinguishing between efficient and inefficient enterprises, thereby better assessing the green innovation efficiency of hydrogen energy companies. The study shows that the improved SBM model significantly enhances the accuracy of enterprise efficiency evaluation. The contribution of this paper lies in constructing an improved SBM model integrated within the ESG framework, compensating for the lack of environmental dimensions in traditional evaluation methods, addressing issues of efficiency homogeneity and the static nature of the frontier, and achieving optimized ranking of frontier-efficient enterprises.