积极发展绿色及ESG债券市场，上交所累计发行近9000亿元

Core Insights - The Shanghai Stock Exchange is actively promoting green finance and has made significant progress in developing the green and ESG bond market, with nearly 900 billion yuan in cumulative green bond issuance by the end of October 2025 and over 80 billion yuan in low-carbon transition bonds since their launch in 2022 [1][4] Group 1: Green Finance Development - The Shanghai Stock Exchange has been implementing the national green development strategy and innovating products and mechanisms related to green finance [1] - The cumulative issuance of green bonds is approaching 900 billion yuan, indicating strong market growth [1] - Low-carbon transition bonds have seen a cumulative issuance of over 80 billion yuan since their introduction in 2022 [1] Group 2: ESG Management Trends - Chinese enterprises are shifting from passive compliance to proactive management of ESG factors, particularly in response to challenges faced during international expansion [1] - The ESG evaluation system in mainland China, although initiated relatively late, is developing rapidly, with significant advancements in both theoretical frameworks and practical applications [4] - Recent policy developments, such as the draft guidelines for corporate sustainable disclosure and the revised guidelines for sustainability reporting by listed companies, are helping enterprises identify risks and opportunities in their sustainable development processes [4]