上交所：优化ESG披露标准 推动提高评级水平

Core Viewpoint - The Shanghai Stock Exchange (SSE) released a report titled "Implementing the 'Two Mountains' Concept: 20 Years of ESG Practices in the Shanghai Market," highlighting the progress and impact of ESG practices over the past two decades, aiming to encourage market participants to engage in sustainable development [1]. Group 1: ESG Development Overview - The report reviews the evolution of ESG practices in the Shanghai market, categorizing it into three stages: initial emergence, exploratory development, and deepening enhancement, documenting the trajectory from policy breakthroughs to system construction [2]. - It features a timeline of significant events and milestones in ESG policy, showcasing the influence of the "Two Mountains" concept on the capital market [2]. Group 2: Industry Case Studies - The report includes 32 benchmark companies from 17 industries, such as biomedicine, petrochemicals, and public utilities, presenting key case studies and breakthroughs for each year, illustrating the transition from voluntary to systematic ESG disclosures [2]. - These case studies reflect the achievements of companies in green transformation and social responsibility over the past two decades [2]. Group 3: ESG Metrics and Achievements - As of now, over 1,300 companies in the Shanghai market have disclosed ESG reports for 2024, achieving a record disclosure rate of 57% [3]. - The cumulative issuance of green bonds in the Shanghai market has reached 862.7 billion yuan, establishing it as a major global green bond market [3]. - The total scale of sustainable development index tracking products amounts to 73.192 billion yuan, with 157 products based on ESG evaluations totaling 252.848 billion yuan [3]. Group 4: Future Initiatives - The SSE plans to enhance ESG disclosure standards, improve ESG rating levels, and diversify green financial products to further boost corporate ESG performance and foster a sustainable development ecosystem [3].