Core Viewpoint - The CICC ESG rating system has been updated to version 2.0 in October 2023, integrating financial importance characteristics and industry research insights into its framework, while also reflecting domestic ESG development trends and international standards [3][10][12]. Overview of CICC ESG Rating - The CICC ESG rating system is built on a general process that incorporates industry and company understanding, with a focus on carbon neutrality and other hot topics [3][10]. - The rating system features three main characteristics: alignment with international ESG standards, comprehensive integration of ESG and industry research, and quantitative methods enhancing data resources and indicator systems [12][13]. 2025Q2 Update: Sample Overview - In 2025Q2, the ESG scores for A-shares showed a right-skewed distribution, with scores concentrated between 1.5 and 8, while Hong Kong stocks exhibited a multi-modal distribution with scores mainly between 4 and 9 [17][25]. - The average ESG score for A-shares was 4.10, and the median was 3.77, while for Hong Kong stocks, the average was 6.10 and the median was 6.33 [17][25]. Industry Perspective - The CICC ESG rating framework is structured based on GICS secondary industry characteristics, leading to differences in indicator frameworks and score distributions across industries [5]. - Leading companies in the ESG ratings within industries such as energy, telecommunications, and food and beverage have significant market capitalization effects, while stability in rankings is observed in insurance and consumer goods sectors [5][49]. Individual Stock Perspective - The CICC ESG rating includes total ESG scores and scores for environmental, social, and governance dimensions, with scores standardized within GICS secondary industries, ranging from 0 to 10 [7][56]. - The report provides a summary of ESG scores for A-shares and Hong Kong stocks, reflecting relative performance within their respective industries [7][56]. Rating Characteristics - The rating results indicate a positive correlation between market capitalization and ESG scores, with larger companies generally achieving higher scores [36]. - The analysis shows that stock price risk, measured by maximum drawdown and VaR, is positively correlated with ESG scores, suggesting that better ESG performance may help manage investment risks [45][47]. Conclusion - The CICC ESG rating system continues to evolve, reflecting both international standards and local characteristics, while providing valuable insights into the ESG performance of companies across different industries and market capitalizations [3][12][13].
中金ESG评级2025Q2数据更新