三大证券交易所发布第二批指南

Core Viewpoint - The recent revision of the "Guidelines for the Preparation of Sustainable Development Reports by Listed Companies" aims to enhance the quality of ESG reporting among listed companies in China, focusing on pollution discharge, energy utilization, and water resource usage [1][2][3] Group 1: Guidelines and Framework - The new guidelines provide detailed guidance on identifying and assessing risks and opportunities related to pollution discharge, energy use, and water resource management [1][3] - The guidelines do not impose additional mandatory disclosure requirements but serve as a reference for companies to improve their ESG reporting [1][2] - The guidelines include common calculation processes and methods for disclosing data, addressing the lack of standardized accounting and reporting methods among companies [3][4] Group 2: Impact on ESG Reporting - As of June 2023, 1,869 listed companies have disclosed ESG reports, achieving an overall disclosure rate of 34.72%, an increase of approximately 10 percentage points compared to the previous two years [5][6] - The quality of ESG disclosures has improved, with 99.25% of companies reporting quantitative indicators, and 62.07% disclosing climate-related risks and opportunities [6][7] - The introduction of these guidelines has led to a significant increase in the number of companies receiving higher international ESG ratings, with 32% of companies in the Shanghai and Shenzhen markets seeing improvements in their MSCI ESG ratings by the end of 2024 [6][7] Group 3: Long-term Benefits - Enhanced ESG ratings are expected to improve companies' attractiveness to investors, leading to a virtuous cycle of better disclosure, higher ratings, and increased investment [7] - The guidelines are anticipated to help companies develop long-term sustainable strategies, thereby improving overall corporate quality and competitiveness [4][5]