ESG双周报第六十七期：美国证监会终止气候披露规则辩护，欧盟ESG披露推迟-2025-04-06

Group 1: ESG Policy Developments - The EU has postponed the implementation of key sustainability reporting and due diligence regulations, including the Corporate Sustainability Reporting Directive (CSRD) and the Corporate Sustainability Due Diligence Directive (CSDDD) [6] - The EU Commission has set a tight deadline for the European Financial Reporting Advisory Group (EFRAG) to develop simplified sustainability reporting standards by October 31, 2025 [11] - The SEC has decided to stop defending its climate disclosure rules, effectively abandoning the requirement for companies to report climate risks and greenhouse gas emissions [16] Group 2: Domestic ESG Initiatives - The 2024 China Nonferrous Metals Industry ESG Information Disclosure White Paper reports an overall disclosure rate of 46% among listed companies in the sector, with state-owned enterprises at 74% and private enterprises at 29% [20] - The national carbon emissions trading market has expanded to include the steel, cement, and aluminum industries, covering over 60% of national CO2 emissions [22] - The Ministry of Ecology and Environment has established the world's largest ecological environment quality monitoring network, covering various environmental factors [25] Group 3: Future Outlook and Risks - The 2025 fiscal policy will focus on supporting ecological civilization construction and promoting green low-carbon transitions in key industries [28] - The macroeconomic downturn is exceeding expectations, which may impact ESG investment performance [33] - Historical data may not predict future performance, emphasizing the need for cautious investment strategies [33]