沪深北三大交易所最新发布！涉及三大ESG实操“指南”

Core Viewpoint - The recent release of the second batch of sustainable development reporting guidelines by the three major exchanges aims to enhance the quality of sustainability disclosures among listed companies, focusing on environmental issues such as pollutant emissions, energy use, and water resource utilization [1][2][3]. Group 1: Guidelines Overview - The new guidelines include three chapters on pollutant emissions, energy use, and water resource utilization, providing detailed explanations and examples for companies to reference when preparing sustainability reports [3][4]. - The guidelines aim to strengthen companies' awareness of risks and opportunities, standardize disclosure behaviors, and provide clearer operational instructions without imposing additional mandatory disclosure requirements [4][5]. Group 2: Implementation and Impact - The guidelines serve as a "toolbox" for companies to identify key issues and analyze sustainability-related risks and opportunities, while the disclosure rules outline mandatory reporting requirements for specific companies starting from May 1, 2024 [5][6]. - As of June 2025, 1,869 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 [6][7]. Group 3: ESG Ratings and Market Response - The integration of ESG factors into credit ratings has gained traction, with 32% of companies in the Shanghai and Shenzhen markets seeing improvements in their MSCI ESG ratings since 2017 [8][9]. - Enhanced ESG performance is positively influencing companies' images and attracting long-term capital, as seen with companies like Kweichow Moutai and CATL, which have received significant upgrades in their ESG ratings [9].