事关上市公司可持续信披 三大交易所重要发布

Core Viewpoint - The China Securities Regulatory Commission has guided the release of revised guidelines for the preparation of sustainability reports by listed companies, emphasizing the importance of environmental issues such as pollutant emissions, energy utilization, and water resource management [1][2]. Group 1: Guidelines and Implementation - The revised guidelines include three specific areas: "pollutant emissions," "energy utilization," and "water resource utilization," aimed at enhancing the sustainability awareness and disclosure practices of listed companies [1][2]. - The mandatory disclosure requirements will take effect on May 1, 2024, with companies needing to submit their first sustainability report by April 30, 2026 [1]. - The guidelines are designed to be compatible with international standards while integrating Chinese practices, covering 21 topics related to environmental, social, and governance (ESG) issues [1]. Group 2: Market Impact and Company Performance - In 2025, nearly 1,900 listed companies disclosed sustainability reports, achieving an overall disclosure rate of approximately 35%, an increase of about 10 percentage points from the previous two years [2]. - The MSCI China A-share index saw a significant increase in ESG ratings, with 34.3% of companies improving their ratings, and the number of companies rated AAA or AA rising from 7.2% to 14.13% [3]. - The total scale of sustainable index products reached approximately 125 billion, more than doubling since the end of 2020, indicating a growing interest in ESG investments [3]. Group 3: Future Directions and Support - The exchanges will focus on market training, rule consultation, and implementation services to support companies in their sustainability reporting efforts [4]. - Feedback from the public consultation on the new guidelines was largely positive, indicating broad recognition of their guiding role and content [4].