2025年春季ESG投资策略：基于大模型构建央企ESG评价体系

Core Conclusions - The report highlights the simultaneous release of ESG disclosure guidelines by three major exchanges on April 12, 2024, and the ESG disclosure guide on January 17, 2025, mandating disclosure for 319 companies, with state-owned enterprises (SOEs) accounting for over half [3][10]. - The guidelines consist of two parts: "General Requirements and Disclosure Framework" with 21 topics and "Addressing Climate Change" with 22 indicators [3][11]. - Disclosure requirements are categorized based on the financial and impact significance of the topics, with a four-step method for determining the importance of issues [3][15][19]. - The report outlines a comprehensive ESG evaluation system for SOEs, emphasizing financial significance, consisting of six primary indicators and 48 secondary indicators [4][53]. - A four-step method is proposed for evaluating SOE ESG performance using a PROMPT template, enhancing efficiency in generating ESG performance evaluation reports [4][75]. Section Summaries 1. How Should Listed Companies Disclose ESG Reports? - The guidelines provide a framework for mandatory disclosure, with a focus on financial and impact significance [3][10]. - Companies must disclose four key elements: governance, strategy, management of impacts, risks, and opportunities, and metrics and targets [3][16][17]. 2. Building the SOE ESG Evaluation System: Emphasizing Financial Significance - The evaluation system is based on the "Chinese Characteristics ESG" framework, covering nearly 200 SOEs across seven industries [4][51]. - The system includes governance structure indicators, importance assessment indicators, environmental indicators, climate change response indicators, social indicators, and governance indicators [4][53][54][56][58][65][67]. - New indicators focus on financial importance assessment, impact importance assessment, ecological protection, and circular economy [4][58][61][66]. 3. Evaluating SOE ESG Performance Based on Large Models: Constructing PROMPT Templates - The report details a five-element PROMPT template for generating ESG evaluation reports, which includes time range, information sources, operational steps, content requirements, and format requirements [4][75]. - The use of AI in generating ESG performance evaluation reports is emphasized, although it notes the need for manual verification due to potential discrepancies in model outputs [4][76].