上交所制定推动提升沪市公司ESG评级专项行动方案，创业板指剔除国证ESG评级B级以下公司

Domestic Developments - The Shanghai Stock Exchange has established a special action plan to enhance the ESG ratings of listed companies, implementing six key measures to improve ESG performance[3] - The ChiNext Index has removed companies rated below B in the National ESG rating system, aiming to strengthen the overall quality of listed firms[13] ESG Financial Products Tracking - As of June 23, 2025, a total of 3,573 ESG bonds have been issued in China, with a total outstanding amount of CNY 5.49 trillion, of which green bonds account for 61.40%[30] - In June 2025, 96 ESG bonds were issued, raising CNY 107.7 billion, while the total issuance over the past year reached 1,009 bonds with a total amount of CNY 1.15 trillion[30] - There are currently 893 ESG mutual funds in the market, with a total net asset value of CNY 1,044.95 billion, where ESG strategy products represent 52.70% of the total[36] - In June 2025, 14 new ESG products were launched, totaling 3.319 billion units, with a total of 240 ESG mutual funds issued in the past year, amounting to 179.629 billion units[36] - The market has 931 ESG bank wealth management products, with pure ESG products making up 57.79% of the total, and 61 new ESG products were issued in June 2025[41] Index Performance - As of June 20, 2025, most major ESG indices outperformed the market, with the CSI 300 ESG index showing the smallest decline at 0.09% and the Wind All A Sustainable ESG index showing the largest decline at 0.95%[42] - Over the past year, major ESG indices have generally increased, with the Huazheng ESG index leading with a rise of 12.35%, while the Shenzhen ESG 300 index had the smallest increase at 7.01%[42] Expert Insights - The ISSB Chairman emphasized China's commitment to enhancing the quality and transparency of climate-related financial disclosures, contributing to global comparability in information disclosure[44] - The Shanghai New Financial Research Institute highlighted five major imbalances in the development of green finance, including supply-demand imbalance and infrastructure disparities[44] Risk Factors - Potential risks include slower-than-expected ESG development, challenges in advancing carbon neutrality strategies, and delays in policy implementation[45]