可持续发展报告强制披露将迎“首考” 难的不是“写作文”而是“做算术”

Core Viewpoint - The mandatory disclosure of sustainable development reports for listed companies in China is approaching, with significant changes in regulatory requirements and practices expected by 2026 [1][2]. Group 1: Regulatory Changes - The revised "Management Measures for Information Disclosure of Listed Companies" came into effect on July 1, 2023, mandating the publication of sustainable development reports by listed companies [2]. - The Shanghai and Shenzhen Stock Exchanges will implement the "Guidelines for Sustainable Development Reports of Listed Companies" in 2024, requiring companies to disclose their 2025 reports by 2026 [2]. Group 2: Current Practices and Trends - Companies are enhancing their sustainable development report practices by focusing on core performance indicators and aligning with international standards [1][3]. - There is a trend towards separating sustainable development reports from social responsibility reports to improve clarity and focus [3][4]. Group 3: Challenges in Data Disclosure - The disclosure of quantitative data remains a significant challenge, particularly in areas related to climate and supply chain management [5][6]. - As of September 2023, only 37.80% of listed companies disclosed quantitative performance related to greenhouse gas emissions, indicating a gap in data transparency [5]. Group 4: Importance of Quantitative Data - Quantitative data is crucial for linking ESG performance to financial outcomes, influencing investment decisions and company valuations [5][6]. - Companies are encouraged to develop comprehensive indicator systems for effective data collection and management, which is currently hindered by fragmented processes across departments [6][7]. Group 5: Recommendations for Improvement - Suggestions include enhancing policy guidance, promoting industry leaders to set examples, and developing third-party platforms for technical support [9]. - Establishing a standardized framework for information disclosure that aligns with international rules is essential to reduce compliance costs for companies [9].