8月2日，在2025企业家太阳岛年会期间，由新华社品牌工作办公室、新华网主办的2025企业ESG发 展论坛在哈尔滨举办。论坛以"创新实践 共筑可持续未来"为主题，汇聚政产学研各界代表百余人，共 话企业可持续、高质量发展之道。论坛现场公布了"2025企业社会责任&ESG实践案例"，格力电器凭 借"零碳源"光储空调系统成功入选。 格力电器此次入选的"零碳源"光储空调系统，该系统将光伏发电、储能调电、直流配电、柔性用电 融于一体，光伏直驱利用率高达99.06%，广泛应用于公建、厂房、场馆、学校、酒店、医院、商业综 合体等场所，产品已服务全球超35个国家和地区。 历经十余年发展，"零碳源"光储空调系统系列产品 进一步丰富，新增至 15 类 101 款，可以成功解决光伏就地消纳、电力削峰填谷的技术痛点问题，该项 目核心技术成功入选生态环境部发布的《国家重点推广的低碳技术目录（第五批）》。值得一提的是， 格力光伏空调的产品标准已经写入IEC标准体系，格力不仅是光伏空调的开创者，也是标准的制定者， 填补了行业的空白。 凭借"零碳源"光储空调系统强大的技术创新实力，该系统在中东市场占有率已经超过25%，已经有 1万套"零碳源 ...

【编者按：ESG年报解读是搜狐财经及价值公司100联合发起的针对各公司ESG报告披露情况的解读专栏。参考上交所 《上市公司治理准则》、港交所《环境、社会及管治守则》等文件，迭代完善各行业ESG星级测评体系标准，并以最 新标准为依托，以2024年公司ESG报告为主要数据来源，对公司2024年环境资源、社会责任及公司管治进行评价】 ——本文为"上海银行" 出品 | 搜狐财经 面对监管检查中暴露出的一系列业务操作不规范、风控缺失以及内部监督薄弱等问题，上海银行曾在2024年ESG报告 中披露过一系列改进措施。不过，从近期监管罚单仍持续出现的情况来看，这些措施的实际成效尚未完全显现。 涉8项违法行为被罚款3000万 据央行官网8月1日处罚公示，上海银行因存在"违反账户管理规定；违反清算管理规定；违反反假货币业务管理规 定；占压财政存款或资金；以及未按规定履行客户身份识别和报送大额交易及可疑交易报告"等8项违法行为，被予以 警告，没收违法所得46.95万元，并处以2874.8万元罚款。 一同被追责的还有时任公司风险管理部、信用卡中心及总分行零售业务部等相关部门主管人员，15名责任8.5万元。对 此，上海银行回应称已根据 ...

Investment Rating - The report does not explicitly state an investment rating for the industry. Core Insights - The overseas ESG development is characterized by a combination of regulatory strengthening, technological innovation, and capital expansion. Notable events include the antitrust investigation against SBTi and CDP in Florida, the introduction of voluntary disclosure standards for SMEs by the EU, and Japan's announcement of a carbon allocation framework for manufacturing [6][14][18]. - In China, ESG development is driven by policy initiatives, market deepening, and industrial upgrades. Key developments include the issuance of a heavy metal environmental safety action plan, the launch of a national childcare subsidy benefiting 20 million families, and the establishment of a voluntary carbon market with a transaction volume exceeding 200 million yuan [6][48]. Summary by Sections Overseas ESG Hotspots - The report highlights significant overseas ESG events, including the antitrust investigation in Florida against climate organizations, the EU's voluntary standards for SMEs, and Japan's carbon allocation framework [14][18]. - Climeworks has launched a mobile DAC device in Saudi Arabia to capture CO2 from the atmosphere, while CRH has acquired Eco Material Technologies to enhance its sustainable cement supply chain [14][18]. Domestic ESG Developments - The report outlines domestic ESG advancements, such as the issuance of a heavy metal environmental safety action plan and the implementation of a childcare subsidy program [48]. - The voluntary carbon market in China has seen a transaction volume surpassing 200 million yuan, and the issuance of green certificates has reached 1.371 billion [48][65]. Academic Frontiers - Recent academic research has introduced innovative concepts in sustainable agriculture and waste management, emphasizing the importance of soil health and methane emission quantification from landfills [6]. Green Finance Initiatives - The report notes significant capital flows into green finance, including Barclays' sustainable finance income reaching $66.6 billion and Nuveen raising $785 million for a C-PACE loan fund [14][18]. Technological Innovations - Google has launched the AlphaEarth Foundations AI model to enhance environmental mapping, showcasing advancements in geospatial data processing [32][42]. Regulatory Developments - The EU has proposed simplifying sustainability reporting standards to ease the compliance burden on SMEs, while various countries are enhancing their regulatory frameworks to support ESG initiatives [18][31].

在政策层面，国际组织和各国持续推进相关政策。国际标准化组织发布《全球环境、社会和治理（ESG）实施原则》，欧盟通过《企业可持续发展尽职调查 指令》等强化ESG信息披露，美国SEC出台气候披露新规，中国发布《关于加快经济社会发展全面绿色转型的意见》等政策，完善绿色转型制度体系，主流 评级机构也更新了ESG评分模型。 重点议题方面，极端天气频发加剧气候风险，各国加强气候适应能力建设，企业需重视气候风险识别与管理；国际气候相关贸易政策兴起，欧盟碳边境调节 机制进入过渡期，英国将实施碳边境调节机制，碳足迹要求融入贸易政策；全球碳市场建设加快，中国重启全国温室气体自愿减排交易市场，巴西、新加坡 等推进碳市场立法，高质量碳信用成为关注焦点；转型规划在全球受重视，实体企业和金融机构积极制定并实施转型战略；生物多样性保护受关注，国际社 会推进"30×30"目标，各国出台保护政策，企业将生物多样性纳入ESG框架；循环经济成为应对资源环境挑战的关键，欧盟、中国等出台政策推动废弃物循 环利用，企业探索可持续商业模式；供应链安全和负责任采购重要性凸显，关键矿产资源争夺加剧，食品安全事件推动供应链透明度提升；人工智能在带来 积极影响的 ...

Core Insights - The report highlights the simultaneous trends of regulatory strengthening, technological innovation, and capital expansion in the overseas ESG landscape, with significant events such as the antitrust investigation against SBTi and CDP in Florida, the introduction of voluntary disclosure standards for SMEs by the EU, and Japan's carbon quota allocation framework for manufacturing [2][6][24] - In the domestic ESG context, the report emphasizes a collaborative advancement of policy-driven initiatives, market deepening, and industrial upgrading, including the issuance of a heavy metal environmental safety action plan and the establishment of a national-level zero-carbon park initiative in Shanghai [2][24][25] Overseas ESG Events - The report details various overseas ESG developments, including Climeworks testing a mobile DAC device in Saudi Arabia, Boomitra launching a biomass carbon removal project in Botswana, and Google's investment in a green data center in India [2][6][21][23] - Significant capital movements are noted, such as CRH's acquisition of Eco Material for $210 million to enhance its sustainable cement supply chain and Barclays Bank's sustainable finance revenue reaching $66.6 billion [2][6][24] Domestic ESG Events - The report outlines key domestic ESG events, including the issuance of over 1.371 billion green certificates by the National Energy Administration and the establishment of a sustainable information verification standard by the China Association of Public Companies [2][24][30] - The report also mentions the launch of a parenting subsidy program benefiting 20 million families, aimed at reducing child-rearing costs [2][26] Academic Frontiers - The report highlights significant academic contributions, such as a study published in "Science" on plant-soil feedback mechanisms for sustainable agriculture, and a new method for quantifying methane emissions from landfills published in "Nature Climate Change" [2][40][46]

Core Viewpoint - The article discusses the recent fluctuations in the U.S. employment data and its implications for market sentiment, particularly regarding the Federal Reserve's potential interest rate cuts and the impact on precious metals prices [2][3][25]. Economic Indicators - Recent U.S. economic indicators, including employment data, consumer confidence, and corporate earnings, have shown improvement, leading to speculation about the Federal Reserve's interest rate decisions [2][25]. - The July non-farm payrolls report showed only 73,000 new jobs added, significantly below expectations, with prior months' figures also revised downwards, raising concerns about the reliability of U.S. employment data [2][25]. Market Sentiment - The market has begun to recognize the fragility of the U.S. employment situation, likening it to "the emperor's new clothes," which may lead to increased calls for interest rate cuts from the Federal Reserve [3][26]. - Following the disappointing employment data, U.S. stock markets experienced a decline, which may be a temporary technical adjustment rather than a long-term trend [3][26]. Precious Metals Market - The article highlights the recent changes in managed positions for precious metals in the U.S. futures market, indicating a decrease in net long positions for gold and silver, while platinum saw a slight increase [5][9]. - As of July 29, net long positions for gold fell by 16.4% to 444 tons, marking the lowest level in three weeks, while silver's net long positions decreased by 3.6% to 6,786 tons [5][9]. - The correlation between gold and silver prices remains strong, with silver experiencing a more volatile market response compared to gold [9][12]. Federal Reserve's Interest Rate Outlook - The market anticipates that the Federal Reserve will cut interest rates three times this year, with significant probabilities assigned to rate cuts in September, October, and December [3][25][24]. - The article suggests that if the Federal Reserve begins to cut rates but inflation pressures resurface, it will pose a significant challenge for future monetary policy [27]. Investment Strategies - The article emphasizes the importance of monitoring the gold-to-mining stock ratio as a forward-looking indicator for gold prices, suggesting that if gold prices rise while mining stocks decline, it may signal caution for investors [19][26]. - The gold-silver ratio, which measures market sentiment, has shown a rebound, indicating heightened risk awareness among investors [21][23].

Core Viewpoint - The report from China Merchants Securities emphasizes the need for industry allocation in the CSI A500 index to focus on "de-involution" clearance, sectors with high mid-year performance growth, and low valuations [1] Group 1: Performance Improvement Areas - Expected areas of mid-year performance improvement include: 1) High-growth TMT sectors such as optical optoelectronics, consumer electronics, and communication equipment, benefiting from AI innovation and accelerated substitution [1] 2) Midstream manufacturing sectors with global competitiveness, including automotive parts, automation equipment, and electronics, showing signs of marginal order recovery [1] 3) Consumer services, particularly home appliances and household goods, experiencing demand improvement due to policy support [1] 4) Cyclical industries like precious metals, industrial metals, and electricity, with potential profit recovery [1] Group 2: Market Conditions - Current prices for resource products such as steel and coal have bottomed out and are recovering, while the photovoltaic industry chain is also seeing marginal price recovery [1] - The de-involution policy is driving capacity clearance in certain industries, making performance elasticity worth noting [1] Group 3: CSI A500 Index Composition - The CSI A500 Innovation Index is compiled using an internationally recognized "industry balance" method, selecting 500 securities with large market capitalization and good liquidity across all secondary and 97% of tertiary industries [1] - The index includes nearly all leading companies in tertiary industries, achieving a "gathering of leaders" [1] - The index compilation incorporates mechanisms like mutual connectivity and ESG screening, aligning with the preferences of domestic and international institutional investors, which is beneficial for attracting long-term capital to core A-share assets [1] - Interested investors may consider the CSI A500 ETF (159338) [1]

Core Insights - The article emphasizes the growing importance of Environmental, Social, and Governance (ESG) criteria and the "dual carbon" goals in guiding China's economic transition towards sustainability by 2025 [1][4][15] ESG Information Disclosure - By 2025, China will implement a robust policy framework for ESG information disclosure, with companies listed on major indices required to publish their sustainability reports by 2026 [3] - The China Securities Regulatory Commission (CSRC) has revised the information disclosure management measures to include sustainability reports as a legal requirement, enhancing regulatory oversight [3] - The State-owned Assets Supervision and Administration Commission (SASAC) has issued guidelines for central enterprises to integrate ESG into their social responsibility frameworks [4] Dual Carbon Policy - The Chinese government has launched comprehensive policies to promote green development and carbon neutrality, including the "Opinions on Promoting Beautiful China Construction" [6] - A detailed carbon footprint management system has been established, outlining standards for carbon accounting, reporting, and labeling [6][7] - The implementation of the Energy Law aims to regulate the entire energy industry chain, supporting the transition to a clean and low-carbon energy system [7] Green Finance Initiatives - In 2025, China’s green finance policies are set to evolve, encouraging companies to disclose sustainability information and integrating ESG factors into credit assessments [8] - The People's Bank of China and other regulatory bodies are working to create a leading financial support model for green and low-carbon development [8] Corporate Strategy and Management - Companies are urged to align their strategies with ESG and dual carbon goals, establishing leadership teams to oversee implementation and set measurable targets [9][11] - A thorough review of existing business models is necessary to identify areas for improvement in line with ESG principles [9][11] Innovation and Technology - Investment in green technology and innovation is crucial for companies to enhance their competitive edge and achieve sustainability goals [12] - Utilizing digital tools and collaborative innovation with research institutions can help companies overcome technological challenges [12] Reporting and Transparency - Companies must improve the quality and transparency of their ESG reports by establishing robust data management systems and engaging third-party audits [14] - Building communication platforms to address stakeholder concerns and enhance trust is essential for successful ESG implementation [14][15]

来源：金融界 金融界8月6日消息，有投资者在互动平台向天阳科技提问：海南自贸港封关在即，公司控股绿色数字是 否已参与自贸港数字信用基建项目？未来在ESG评估、跨境稳定币等领域的布局进展如何？ 公司回答表示：您好，公司投资的海南绿色数字信用有限公司及其相关股东积极参与ESG相关标准制 定，包括参与财政部企业可持续披露标准制定相关咨询与征求意见等工作、与信用评级主管部门共同开 展ESG评级业务监管制度设计研究等。 海南绿色数字信用有限公司将绿色金融、数字技术和信用体系 有机结合，主要开展以下三方面工作：一是利用大数据、区块链等技术，基于财政部企业可持续披露标 准要求，为海南自贸港企业构建ESG数据平台与绿色信用体系，赋能企业ESG转型；二是通过将企业 ESG数据与征信数据深度融合，打造以企业可持续发展综合评价为核心的企业数字化信用评价体系，为 企业可持续发展挂钩融资（如ESG挂钩信贷与债券、碳金融工具等）提供数据支持；三是利用自贸港跨 境资金流动便利政策，吸引国际资本投资海南自贸港绿色项目，通过追踪企业供应链ESG表现，服务于 跨境投融资与国际绿色供应链管理需求，帮助海南自贸港企业（如热带高效农业、旅游业、深海产 ...

广发银行积极把握绿美生态建设机遇，将金融资源向清洁能源、节能环保等领域倾斜，2024年绿色信贷 余额突破2000亿元，落地44个碳减排项目，连续多年获中国银行业协会"绿色银行评价先进单位"称号， 成功书写高质量发展的"绿色答卷"。 近年来，广发银行紧跟国家战略方向，深入贯彻"绿水青山就是金山银山"理念，支持经济社会向绿色、 低碳、可持续转型。坚持"碳达峰、碳中和"绿色发展目标，积极应对气候变化挑战，努力打造绿色银 行。 近日，第四届ESG生态共建主题活动在穗举办，广发银行凭借在绿色金融和社会责任领域的突出表现， 荣获"年度ESG竞争力企业"称号。 本次活动聚焦ESG本土化创新、低碳转型等议题，通过主题演讲、案例分享及荣誉发布，为企业可持续 发展提供重要参考。"年度ESG竞争力企业"奖项的获得不仅是对广发银行在可持续发展领域成果的肯 定，也展现了其在推动行业ESG生态建设中的引领作用。 聚焦"双碳"目标，践行绿色发展 创新绿色金融，助推新能源车消费 广发银行积极响应国家绿色金融政策导向，扎实推动绿色金融落地实施。在支持绿色消费领域方面，创 新推出全生命周期汽车金融服务方案，重点围绕新能源汽车消费场景加强产品创新 ...