证监会，最新明确

Core Viewpoint - The China Securities Regulatory Commission (CSRC) emphasizes the importance of high-quality sustainable disclosure by listed companies, aligning with the new "National Nine Articles" to enhance the sustainability information disclosure system [2][3]. Summary by Sections Sustainable Disclosure System - The new "National Nine Articles" aims to establish a comprehensive sustainable information disclosure system for listed companies, with the CSRC guiding the Shanghai, Shenzhen, and Beijing stock exchanges to create mandatory disclosure rules [3]. - Specific guidelines have been issued, including "Overall Requirements and Disclosure Framework" and "Response to Climate Change," with additional guidelines on "Pollutant Emissions," "Energy Utilization," and "Water Resource Utilization" currently open for public consultation [3]. Disclosure Rate and Company Engagement - In 2024, 1,869 listed companies disclosed their sustainability reports, achieving an overall disclosure rate of 34.7%, an increase of approximately 10 percentage points compared to the previous two years [4]. - The market capitalization of disclosing companies accounts for about 70% of the total market, with 612 companies also releasing social responsibility reports [4]. - Among the disclosing companies, 99.3% reported quantitative indicators, with over 80% disclosing more than 25 indicators [4]. Guidance for High-Quality Disclosure - The CSRC will support the gradual improvement of the disclosure system by learning from international best practices and ensuring alignment with global sustainability rules [5]. - The CSRC encourages companies not within the mandatory disclosure scope to disclose at their discretion, focusing on quality rather than quantity of disclosures [6]. - The commission aims to enhance companies' awareness of sustainable development, providing training and case studies to help identify and disclose significant risks and opportunities in sustainability [6].