证监会：上市公司ESG信披制度体系基本建成 明年起强制披露

Core Insights - The China Securities Regulatory Commission (CSRC) announced significant progress in establishing a sustainable information disclosure system for listed companies, with mandatory sustainability reporting set to begin in 2026, marking a key step in promoting sustainable development in the capital market [1][6] Group 1: Progress in Sustainability Reporting - In 2024, 1,869 listed companies disclosed sustainability reports, achieving an overall disclosure rate of 34.7%, an increase of approximately 10 percentage points compared to the previous two years [2] - The total market capitalization of companies that disclosed sustainability reports accounted for about 70% of the entire market [2] - Nearly half of the listed companies have systematically disclosed sustainable information when including those that disclosed social responsibility reports [2] Group 2: Improvement in Disclosure Quality - 99.3% of the companies that disclosed reports included quantitative indicators, with over 80% of enterprises reporting more than 25 indicators [2] - 62.1% of companies disclosed climate-related risks and opportunities, while 65.9% reported greenhouse gas emissions, showing significant improvement from the previous year [2] - 67.3% of companies established relevant governance structures, and 44.0% set and disclosed quantitative sustainability goals [2] Group 3: Future Directions - The CSRC aims to gradually improve the disclosure system by learning from international experiences while respecting local conditions, with plans to enrich the guidelines and assess policies after the mandatory disclosure begins in 2026 [4] - The mandatory disclosure requirements will initially cover around 400 key sample companies, which represent over half of the market capitalization, with 95% of these companies already voluntarily disclosing relevant reports [4] - The CSRC will encourage but not mandate smaller companies to disclose, with a focus on gradually expanding the coverage [4] Group 4: Emphasis on High-Quality Development - The core of sustainable disclosure is high-quality development, with many international investors recognizing Chinese listed companies as significant contributors to sustainability [5] - The CSRC will enhance training and case guidance for companies to help them identify and disclose significant sustainable risks and opportunities, while also ensuring the accuracy and balance of disclosed information [5] - An invitation was extended to global investors committed to sustainability to increase investments in high-quality Chinese listed companies [5]