《深圳ESG方案》点评：深圳发布ESG体系建设方案，“以点带面”探索中国特色ESG和可持续发展道路

Investment Rating - The industry investment rating is "Positive" as the industry index is expected to outperform the CSI 300 index by more than 10% [40]. Core Insights - Shenzhen is advancing its ESG framework, aiming to create a unique Chinese model that aligns with international standards while promoting sustainable development [2][27]. - The initiative focuses on enhancing corporate ESG practices, establishing a local ESG standard system, and fostering a green investment environment [12][23]. - The report emphasizes the need for a China-led supply chain ESG audit standard system to address existing challenges and enhance competitiveness [31][34]. Summary by Sections 1. Plan Content - The Shenzhen government has released a plan to build an ESG ecosystem centered on corporate practices, aiming for comprehensive ESG disclosure by state-owned enterprises and listed companies by 2027 [12][17]. - The plan sets specific targets, including a 60% ESG disclosure rate for key sectors and the establishment of at least 10 ESG-related standards and service institutions [16][17]. 2. Policy Interpretation - The plan reflects Shenzhen's commitment to becoming a pioneer in ESG practices, leveraging its position in the Guangdong-Hong Kong-Macao Greater Bay Area [27][28]. - It aims to integrate ESG standards with economic development and green industry upgrades, showcasing Shenzhen's manufacturing and technological advantages [27][29]. 3. Key Measures - Shenzhen will develop a comprehensive ESG standard system covering disclosure, verification, and rating, while promoting data sharing and establishing an ESG database [23][25]. - The plan includes tailored strategies for different market participants, enhancing ESG practices across state-owned, foreign trade, and private enterprises [25][26]. - Financial institutions will be encouraged to innovate ESG-related financial products and improve carbon accounting systems to attract investment in green projects [25][26].