ESG月报：ESG信披指南更新，新政助推非电脱碳-20251109

Investment Rating - The industry rating is "Outperform Market" (first rating) [5] Core Insights - The report highlights the recent updates in ESG disclosure guidelines and the impact of new policies on the green methanol industry, emphasizing the need for renewable energy consumption requirements and the promotion of green fuels [4][3] - The report tracks the performance of ESG indices and carbon pricing, noting significant changes in the carbon market and the implications for investment strategies [12][20] Summary by Sections Data Tracking - As of October 31, the Shanghai Composite Index increased by 1.9%, while the CSI 300 remained stable at -0.001%. The 300 ESG index rose by 0.014%, and the SEEE Carbon Neutral Index increased by 2% [12] - The latest price for national carbon market emissions allowances (CEA) is 51.96 CNY/ton, a decrease of 10.4% compared to the previous month [20][21] Industry Research Topics ESG Disclosure New Policies - The new ESG disclosure guidelines align more closely with EU standards, introducing additional environmental topics such as pollution, energy, and water resources [3][29] - The guidelines emphasize the importance of financial relevance in ESG disclosures, reflecting a shift towards integrating sustainability into business operations [44][46] Impact on Green Methanol Industry - New policies set forth in 10M25 establish non-electric renewable energy consumption requirements, aiming to enhance renewable energy absorption and create demand for green fuels [4][52] - The green electricity direct connection policy is expected to help green methanol reach cost parity with traditional fuels, benefiting from reduced electricity costs [55][60] Industry News - The EU has released a global climate and energy vision aimed at establishing leadership in clean technology, while domestic policies are increasingly supporting green methanol and sustainable aviation fuel production [5][4]