Jin Rong Shi Bao·2025-04-29 03:16Core Viewpoint - The disclosure of Environmental, Social, and Governance (ESG) reports has evolved from passive compliance to an active demonstration of sustainable leadership among listed banks, reflecting a growing emphasis on social responsibility and the integration of commercial and social value [1][2]. Group 1: New Regulations and Reporting - In 2024, the Shanghai, Shenzhen, and Beijing stock exchanges issued guidelines for sustainable development reporting, marking a significant shift in how listed companies disclose sustainability information [2][3]. - Major banks, including Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, China Construction Bank, Bank of Communications, and Postal Savings Bank of China, released their first reports in accordance with these new guidelines, rebranding their social responsibility reports as sustainable development reports [2][4]. Group 2: Importance of Double Materiality Principle - The guidelines introduced the "double materiality principle," requiring companies to assess and respond to stakeholder concerns regarding environmental information, focusing on both financial and impact significance [3][4]. - This principle aims to enhance the identification and analysis of sustainable risks and opportunities, allowing companies to prioritize issues based on their specific circumstances rather than adhering to a standardized disclosure format [3]. Group 3: Key Issues Identified by Major Banks - The six major banks identified a range of important social responsibility issues, with the number of identified issues varying: Industrial and Commercial Bank (19), Agricultural Bank (22), Bank of China (23), China Construction Bank (23), Bank of Communications (29), and Postal Savings Bank (19) [4]. - Commonly identified issues include financial stability, rural revitalization, consumer rights protection, data security, and shareholder returns, reflecting a comprehensive approach to sustainability [4]. Group 4: Adaptation and Future Implications - The swift adaptation of major banks to the new disclosure regulations indicates their commitment to regulatory compliance and alignment with international trends [4]. - Experts believe that as disclosure practices become more standardized, sustainable development reports will serve as a "compliance passport" and "value certificate" for banks in global competition, shifting the focus from "why to disclose" to "how to reshape the future of finance through disclosure" [4][6]. Group 5: Commitment to Sustainable Development - For listed banks, publishing sustainable development reports is not only a demonstration of social responsibility but also a core tool for addressing global challenges and achieving long-term strategic value [6]. - The chairman of Industrial and Commercial Bank emphasized the transition from social responsibility reports to sustainable development reports as an upgrade in strategic goals and a deepening of development connotations, reinforcing the bank's commitment to sustainable practices [6].