新版可持续发展报告指南落地，ESG 信息披露透明度提升 [Table_Industry] ESG 周报 行业研究 [ETSaGble_StockAndRank] 投资评级 —— 上次评级 —— 执业编号：S1500525030002 邮 箱：guoxue @cindasc.com 执业编号：S1500524100001 邮 箱：wuboying@cindasc.com 信达证券股份有限公司 CINDA SECURITIES CO.,LTD 北京市西城区宣武门西大街甲127号金隅大厦B 座 邮编：100031 [2T0a26bl年e_2Re月po8rt日Date] 自愿性认证方法学。这一里程碑事件标志着，人类在应对气候变化的战役 中，从被动减排迈向主动清除的关键一步，正从政策蓝图走向市场现实。 这套名为《碳清除和碳农业认证框架》（CRCF）的法规，旨在为直接从 大气中清除二氧化碳这一新兴行业，设立史上第一套清晰的官方"游戏规 则"。它不仅为投资者和项目开发者提供了迫切需要的确定性和透明度， 更被行业领袖视为一份"全球碳市场蓝图"，将巩固欧洲作为未来碳经济 主要架构师的角色。 ESG 产品跟踪： 数据统计截至 2 ...

今天分享的是：上海高级金融学院：2025上海市涉外企业ESG发展报告 报告共计：56页 《2025上海市涉外企业ESG发展报告》以上海325家上市涉外企业和1140家非上市涉外企业为样本，系统剖析了 上海涉外企业ESG发展的现状、特征与挑战，为当地相关三年行动计划落地提供实证支撑。报告显示，上海涉外 企业呈现多元共生的结构特征，上市企业以民营企业为主，非上市企业则外资主体占优，浦东新区为核心集聚区 域，信息技术与工业是核心产业，高新技术与先进制造业集聚效应显著。 在ESG能力建设上，上海涉外上市企业ESG报告披露率大幅提升且优于A股整体水平，国有企业在ESG评分上领 跑，外资企业披露机制成熟，民营企业治理领域提升显著。企业在技术创新和绿色转型上活力充沛，专利成果丰 富，多数企业涉足节能降碳、清洁能源等绿色低碳领域，形成多层次发展格局。同时，企业在就业吸纳上表现突 出，形成上市板块由国有和民营主导、非上市板块由外资驱动的就业结构。 上海涉外企业当前面临国际与国内ESG标准"双轨披露"的核心挑战，指标口径、披露逻辑的差异，加之标准更新 频繁，让中小企业陷入能力陷阱，头部企业也承受着持续的管理压力。在服务生态建设方 ...

Core Insights - Rogers Sugar shareholders approved all resolutions at the annual meeting, including director elections, auditor appointments, and a non-binding advisory "say on pay" vote [3][5][20] Financial Performance - The company reported record financial results for the fourth consecutive year, with revenue of CAD 1.3 billion, a 12% increase from the previous year [5][19] - Adjusted EBITDA reached CAD 150 million, up 6%, while adjusted net earnings increased by 9% to CAD 73 million [19] - Free cash flow rose significantly by 42% to CAD 104 million, and a quarterly dividend of CAD 0.09 was declared, yielding approximately 6% [5][10] Segment Performance - The sugar segment saw a nearly 4% year-over-year volume increase, with adjusted EBITDA rising 4% to CAD 129 million and operating margin at CAD 224 per metric ton [11][12] - The maple segment experienced a 14% increase in sales volume, achieving record adjusted EBITDA of CAD 21 million, supported by strong crop quality and availability [13] Strategic Initiatives - The company is advancing its eastern LEAP Project, with estimated costs between CAD 280 million and CAD 300 million, aimed at supporting long-term growth and meeting refined sugar demand [4][15] - Ongoing ESG initiatives were highlighted, including a materiality assessment focused on responsible sourcing and community engagement, along with the publication of the first integrated annual and ESG report [16] Future Outlook - For fiscal 2026, the company anticipates stable sugar profitability and continued strong performance in the maple segment, while remaining prepared for evolving tariffs and trade policies [17]

快手发致歉声明：坚决整改 2月4日，小米公司发言人称，2月1日，辽宁省营口市一台小米SU7车辆的主驾驶座椅处冒烟并起火，经 消防救援部门到场处置后迅速扑灭，现场无人员受伤。经向车主了解今日已收到认定书，该起事故系车 内遗留火源引燃周边可燃物所致，非车辆自身原因产生。 网传视频中所谓的"烟花"情况，系车辆安全 气囊因燃烧引爆导致，与电池等无关。 天瑞热能吃4.2亿元天价罚单，排碳企业需警惕合规底线 碳配额未按时清缴，4.2亿元天价"碳排放"罚单来了！ 2月6日，快手发布声明称，网信部门公布了对快手作出的处罚。对此，公司诚恳接受，坚决整改。由于 公司技术管理原因，应急处置不及时，导致平台出现大量色情低俗内容，造成恶劣影响。事件发生后， 公司全面排查风险意识、安全基建、应急响应和内部管理等方面存在的问题，积极采取多种措施补齐短 板。 A股必看新规！交易所新增污染物、水、能源三项ESG指南 1月30日，在证监会指导下，沪深北三大交易所正式发布修订后的《上市公司可持续发展报告编制指 南》，增加"污染物排放、能源利用和水资源利用"三项应用指南，自发布之日起即时生效。 交易所此前已明确将2026年定为A股ESG信披首考年， ...

京西智行是一家全球化汽车悬架与制动系统一级供应商，在中国、欧洲、北美核心汽车产区设有1家全 球研发创新中心、7家技术研发中心、1家软件中心、8座生产基地和2处试车场。 小米：辽宁营口SU7起火事故系车内遗留火源引燃周边可燃物所致 2月4日，小米公司发言人称，2月1日，辽宁省营口市一台小米SU7车辆的主驾驶座椅处冒烟并起火，经 消防救援部门到场处置后迅速扑灭，现场无人员受伤。经向车主了解今日已收到认定书，该起事故系车 内遗留火源引燃周边可燃物所致，非车辆自身原因产生。网传视频中所谓的"烟花"情况，系车辆安全气 囊因燃烧引爆导致，与电池等无关。 交易所此前已明确将2026年定为A股ESG信披首考年，《指南》则是考试"教科书"。多家A股上市公司 ESG负责人对21世纪经济报道记者表示，《指南》直击编制痛点，覆盖了从风险识别、数据核算到披露 要点的全流程，为企业提供了清晰的"答题规范"。 京西智行CDP与EcoVadis评级双提升 近日，京西智行在碳披露项目(CDP)与EcoVadis两个国际评级体系中评级大幅提升，企业ESG评分同步 优化。京西智行的CDP评级从2024年的D级跃升至2025年的B级，在气候风险应对 ...

Core Insights - In 2025, nearly 80% of listed coal companies in China will independently publish annual ESG reports, achieving a record high disclosure rate, which is a 21% increase compared to 2024 [1] - Despite a global cooling trend in ESG development, Chinese coal enterprises are enhancing their ESG information disclosure as part of their ongoing transformation efforts, aligning with the ESG principles [1] - The significant increase in disclosure rates indicates that ESG concepts have taken root in the coal industry and are becoming an internal driving force for corporate transformation and upgrading [1] ESG Ratings Improvement - The importance of ESG principles is growing for coal companies, with key areas of focus including green mining and clean coal utilization for sustainable development [2] - According to Wind ESG rating data, the proportion of AA-rated companies in the coal sector increased from 2.9% in 2024 to 4.55% in 2025, while A-rated companies rose from 2.9% to 11.36%, and BBB-rated companies increased from 11.8% to 38.64% [2] - The Wind ESG rating system categorizes companies from AAA to CCC, reflecting their long-term sustainability and short-term risk profiles [2] Company-Specific ESG Ratings - China Shenhua (601088) maintains an AA rating, indicating high management standards and low ESG risks, while several other companies like China Coal Energy (601898) and Jinneng Holding (000723) received A ratings [3] - A total of 17 coal companies received BBB ratings, indicating average ESG risk levels, while 20 companies were rated BB or B, suggesting a need for improvement in sustainability capabilities [3] Industry Diversification Trends - A key characteristic of A-rated coal companies is their diversified operations, transitioning from traditional coal dominance to comprehensive energy suppliers [4] - China Coal's social responsibility report highlights its expansion into coal, electricity, coal chemical, and mining equipment manufacturing, alongside initiatives in renewable energy [4] - In 2025, coal consumption in China is projected to decline for the first time in recent years, with only the coal chemical sector showing moderate growth [4] Joint Ventures and Unique Entities - Notable joint ventures like Jinneng Holding and South Gobi are recognized for their unique positioning in the market, combining resources and logistics capabilities [5] Guidance for Transformation - ESG serves as a strategic indicator for coal companies, providing insights into their transformation during challenging times [7] - Companies like Anyuan Coal Industry, despite facing losses, are actively enhancing their ESG disclosures and transitioning to technology-focused enterprises [7] - Meijin Energy, despite losses, maintains a leading ESG score, emphasizing the long-term potential of hydrogen energy transition over short-term financial setbacks [7] Future Directions - As coal production capacity shifts to central and western regions, coal companies will face increasing pressure for transformation, necessitating exploration of resource continuity and new development strategies [8] - Companies are accelerating their investments in advanced computing, high-end materials, and modern finance, marking a shift towards new growth areas while adhering to ESG principles [8]

Company Overview - TGS Esports Inc. is a full-service marketing solutions provider specializing in engaging video game and esports fans, creating gaming strategies and marketing programs for brands [5] - Jeff Credit Ltd. is a professional lending institution licensed by the Hong Kong government for over a decade, providing credit services primarily in Hong Kong [6] Transaction Details - TGS Esports has signed a non-binding letter of intent (LOI) with Jeff Credit Ltd. for a proposed business combination and financing transaction, resulting in a reverse takeover [1][2] - The transaction will involve TGS Esports acquiring all issued and outstanding common shares of Jeff Credit, with a valuation of TGS at $100,000 and Jeff Credit at $8 million [4] - The resulting issuer will continue under the name Jeff Credit Ltd. or another acceptable name, with shares listed on the TSX Venture Exchange [3] Future Plans - Jeff Credit is evaluating the ESG-related market and plans to partner with providers of green taxis to offer credit services for drivers needing to lease new electric vehicles [8]

Group 1 - As of 31 January 2026, the total number of shares composing the current share capital is 766,894,786, and the total number of voting rights is 852,078,102 [2][6] - Societe Generale is a leading European bank with approximately 119,000 employees serving over 26 million clients in 62 countries [3][4] - The company has a commitment to sustainability and is included in major socially responsible investment indices such as DJSI, FTSE4Good, and MSCI Low Carbon Leaders Index [4]

新浪财经ESG评级中心提供包括资讯、报告、培训、咨询等在内的14项ESG服务，助力上市 公司传播ESG理念，提升ESG可持续发展表现。点击查看【 ESG评级中心服务手册】 在瑞士达沃斯举行的世界经济论坛期间，《联合国防治荒漠化公约》（UNCCD）正式启动 Business 4 Land（B4L）冠军理事会。该理事会由全球企业领袖组成，是一个致力于大规模推进土地恢复与增强抗 旱韧性的高层联盟。启动仪式由 UNCCD 与 InTent 联合主办，汇聚了冠军成员及合作伙伴，围绕如何 加快私营部门在可持续土地管理领域的行动展开了深入而富有活力的讨论。 B4L 冠军理事会汇聚了来自不同地区和行业的 10 位具有远见的领导者，涵盖食品、时尚、保险等领 域。作为 UNCCD 旗舰项目——B4L 倡议下的重要高层倡导平台，理事会旨在动员企业力量，到 2030 年恢复 15 亿公顷退化土地，并激励更多企业采用"土地友好型"和再生型商业模式，在实现环境效益的 同时创造经济价值。 首届 B4L 冠军成员包括： Bayanjargal Byambasaikhan，蒙古商业理事会副主席 Benedikt Bösel，Gut & Bös ...

摒弃"难减排"标签：高碳行业科学脱碳的关键前提 ——报告点评 2026 年 2 月 6 日 核心观点 分析师 马宗明 ：18600816533 ：mazongming_yj@chinastock.com.cn 分析师登记编码：S0130524070001 研究助理 方嘉成 ：17394948526 ：fangjiacheng_yj@chinastock.com.cn 相关研究 1.【银河 ESG】国有机构投资者是否更关注 ESG？ 2. 【银河 ESG】董事会是否会因为企业非财务表现受 损而罢免 CEO？ 3. 【银河 ESG】聚焦 ESG 分歧的指数增强策略能否 带来超额收益？ 4. 【银河 ESG】兼顾环境的投资组合能否提高投资业 绩？ 7. 【银河 ESG】绿色金融与技术创新是低碳发展的核 心动力 8. 【银河 ESG】地缘政治、清洁能源发展与未来能源 安全 9.【银河 ESG】合力奋进，共御气候变化——碳定 价、政策联动与全球减排之路 10. 【银河 ESG】全球可持续发展脉搏——应对气候 变化中企业与投资的关键审视 11. 【银河 ESG】绿色金融研究：理论与实践的系统 性综述 12. 【银河 ES ...