ESG信披应用指南发布，财政部强化双重重要性、价值链信披

Core Viewpoint - The Ministry of Finance has released a draft for the "Application Guidelines for the Basic Standards of Corporate Sustainable Disclosure," which aims to enhance the operability of ESG practices in China and align with international standards [1][2][3]. Group 1: Application Guidelines Overview - The application guidelines consist of nine key questions addressing various aspects of sustainable disclosure, including value chain, reporting entities, and the relevance of information [1][4]. - The guidelines are designed to clarify and elaborate on the basic standards, significantly improving the practical implementation of ESG practices [1][2]. - The guidelines will also lead to the development of application guidelines for the climate standards, particularly for key industries [5][6]. Group 2: Alignment with International Standards - The application guidelines are aligned with the ISSB's S1 and S2 standards, ensuring consistency in information quality and disclosure requirements [2][3]. - The guidelines incorporate elements from the S1 supplementary documents to maintain coherence with international sustainable disclosure standards [2][3]. Group 3: Importance of Double Materiality - The guidelines emphasize a "double materiality" approach, elevating the importance of sustainability impacts to be on par with financial materiality [6][7]. - This approach requires companies to assess both economic benefits and environmental/social impacts when making disclosure decisions [6][7]. Group 4: Value Chain and ESG Disclosure - The guidelines highlight the significance of value chain information in ESG disclosures, indicating that companies must consider upstream and downstream activities [10][11]. - Companies are encouraged to engage their entire supply chain in ESG practices, which can enhance overall competitiveness and sustainability [11][12]. Group 5: Industry-Specific Guidance - The Ministry of Finance is developing application guidelines tailored to specific industries, such as power, steel, and automotive, to address the unique challenges faced in sustainable disclosures [5][6]. - The focus on industry-specific guidelines aims to provide targeted support for companies navigating the complexities of ESG reporting [5][6].