构建汽车行业央企ESG评价体系：核心在于环境和供应链指标：A股央企ESG系列报告之五

Investment Rating - The report does not explicitly state an investment rating for the automotive industry, but it emphasizes the importance of ESG (Environmental, Social, and Governance) management in the context of technological innovation and sustainable development [3][6]. Core Insights - The automotive industry is undergoing a technological transformation with the rise of electrification, and balancing technological innovation with green sustainable development is a critical issue [3][6]. - The report outlines the establishment of an ESG evaluation system for state-owned enterprises (SOEs) in the automotive sector, focusing on environmental and supply chain indicators [3][8]. - The report highlights the need for SOEs in the automotive industry to enhance their supply chain ESG management to mitigate risks associated with complex and lengthy supply chains [3][8]. Summary by Sections 1. Automotive Industry SOE ESG Policies - The automotive industry is facing new technological changes and must adhere to various national policies aimed at promoting electric, connected, and intelligent development [7][8]. - Key policies include the "14th Five-Year Plan for Automotive Industry Development" and the "New Energy Vehicle Industry Development Plan (2021-2035)" [6][7]. - Recent policies emphasize the need for a safe and controllable supply chain and significant improvements in green development levels [7][8]. 2. Constructing the Automotive Industry SOE ESG Evaluation System - The ESG evaluation system includes five additional indicators specific to the automotive industry: contributions to industry standards, internationalization, technological progress, employee training, and supply chain capability enhancement [8][9]. - The evaluation system consists of five main categories of positive indicators and one category of negative indicators, with a total of 19 primary indicators and 53 secondary indicators [8][9]. - The environmental indicators are aligned with national carbon neutrality policies and include aspects such as waste management and energy management [10][11]. 3. Core Assumptions of Risks - The report notes that the pace of policy implementation related to ESG may not meet expectations, which could impact the automotive industry's transition to sustainable practices [28].