以信息披露之力 筑绿色转型之基 ——气候准则的制度创新与时代担当

Core Viewpoint - The release of the "Corporate Sustainability Disclosure Standard No. 1 - Climate (Trial)" by the Ministry of Finance and nine other departments represents a significant step in China's proactive role in global climate governance and aligns with the central government's strategic directives [1][9]. Group 1: Context and Rationale - The issuance of the standard is timely, aligning with the goals outlined in the 20th National Congress report and subsequent meetings emphasizing green development and ecological civilization [2][10]. - Internationally, climate information disclosure has become essential for financial stability, investment decisions, and international trade, making the new standard a response to global concerns [2][11]. Group 2: Design and Framework - The standard features a "Four Pillars + Impact" disclosure framework, which is a localized innovation based on international practices, ensuring consistency with global standards like IFRS and TCFD [3][12]. - The framework emphasizes governance, strategy, risk and opportunity management, and metrics and targets, while also addressing the impacts of climate change on China's development [3][12]. Group 3: Content Structure - The standard's governance section delves into the responsibilities and capabilities of governance bodies, highlighting the need for climate issues to be integrated into top-level strategic discussions [4][13]. - It emphasizes climate resilience assessments, requiring companies to evaluate their long-term viability under various climate scenarios, thus promoting proactive adaptation [4][13]. - The risk management section integrates climate-related risks into the overall risk management framework, breaking down silos in sustainability information [4][13]. - The metrics and targets section combines quantitative and qualitative approaches, providing a flexible yet binding disclosure framework [4][13]. Group 4: Implementation Strategy - The standard adopts a gradual implementation approach, starting with voluntary disclosures for listed companies before moving to mandatory requirements for non-listed and smaller enterprises [5][14]. - The introduction of the "proportionality principle" allows companies to adapt disclosure methods based on their resources and capabilities, easing compliance burdens for smaller firms [5][14]. - Industry-specific guidelines are being developed for key sectors like electricity, steel, coal, and oil, creating a comprehensive guidance system [5][14]. Group 5: Future Outlook - The standard is expected to enhance corporate focus on climate issues and improve governance mechanisms and risk management processes, marking a significant shift in corporate climate awareness [6][15]. - In the medium term, it will improve the quality and comparability of climate-related information, supporting the development of green finance and addressing issues like greenwashing [6][16]. - Long-term, the standard aims to foster green production and lifestyle practices, contributing to China's dual carbon goals and global climate governance [6][16].