Zheng Quan Shi Bao·2025-09-05 10:17Core Viewpoint - The China Securities Regulatory Commission (CSRC) is seeking opinions on the second batch of guidelines for listed companies' sustainable development reports, focusing on environmental issues such as pollutant emissions, energy utilization, and water resource usage, aiming to enhance sustainable development awareness and improve disclosure standards among listed companies [1][2]. Group 1: Guidelines Overview - The newly revised guidelines include three chapters on pollutant emissions, energy utilization, and water resource usage, providing detailed explanations and examples for companies to enhance their sustainable development reporting capabilities [2][3]. - The guidelines aim to strengthen companies' awareness of risks and opportunities while standardizing information disclosure without imposing additional mandatory requirements [3][4]. Group 2: Implementation and Compliance - The guidelines serve as a "toolbox" for companies to identify key issues and analyze sustainability-related risks and opportunities, while the disclosure framework outlines mandatory reporting requirements for specific companies by May 1, 2024 [4][5]. - As of June 2025, 1,869 listed companies had disclosed sustainability reports, achieving an overall disclosure rate of 34.72%, an increase of approximately 10 percentage points compared to the previous two years [5][6]. Group 3: ESG Ratings and Market Impact - The integration of ESG factors into credit ratings has gained traction, with 32% of companies in the Shanghai and Shenzhen stock markets seeing improvements in their MSCI ESG ratings by the end of 2024 [7][8]. - Enhanced ESG performance is expected to positively influence companies' public image and attract long-term investment, as seen with companies like Kweichow Moutai and CATL, which have received significant upgrades in their ESG ratings [8].