Core Viewpoint - The China Securities Regulatory Commission (CSRC) is committed to supporting and guiding listed companies in enhancing the quality of sustainable disclosures, with a focus on improving the disclosure system and evaluating policies after mandatory disclosures are implemented in 2024 [1][6]. Group 1: Sustainable Disclosure Improvement - The new "National Nine Articles" emphasizes the establishment of a sustainable information disclosure system for listed companies [3]. - The CSRC is guiding the Shanghai, Shenzhen, and Beijing stock exchanges to develop the first mandatory rules for sustainable disclosure, which will provide detailed guidance for companies [3][4]. - In 2023, 1,869 listed companies published their 2024 sustainability reports, achieving an overall disclosure rate of 34.7%, an increase of approximately 10 percentage points compared to the previous two years [3][4]. Group 2: Quality of Disclosure - 99.3% of companies that disclosed reports included quantitative indicators, with over 80% of these companies reporting more than 25 indicators [3][4]. - 62.1% of companies disclosed climate-related risks and opportunities, while 65.9% reported greenhouse gas emissions, a significant increase from 57.5% the previous year [3][4]. Group 3: Governance and Focus - Among the companies that disclosed reports, 67.3% established governance structures, and 63.9% disclosed strategic information [4]. - The introduction of the disclosure guidelines has provided companies with clearer objectives, reducing the costs associated with learning domestic and international standards [4]. Group 4: Future Directions - The CSRC plans to enhance the disclosure system by learning from international practices and ensuring that the guidelines are tailored to the needs of companies [6][7]. - Approximately 400 companies are required to disclose information under the new guidelines, which represent over half of the market's total market capitalization [6][7]. - The CSRC will encourage voluntary disclosures from companies not covered by mandatory requirements, focusing on the quality of disclosures rather than the quantity [7][8].

Core Viewpoint - The 2025 Sustainable Global Leaders Conference emphasizes the importance of sustainable information disclosure as a critical bridge connecting funds and projects in the context of global green transformation [1][3]. Group 1: Sustainable Information Disclosure - The ISSB aims to create a global unified language for sustainable information disclosure, drawing from the successful experience of international accounting standards [1][2]. - Current sustainable information disclosure faces three core challenges: high compliance costs, lack of comparability, and fragmented standards, which can lead to "greenwashing" [2][10]. - The ISSB's standards are characterized by high quality, verifiability, and enforceability, distinguishing them from previous voluntary standards [2][11]. Group 2: China's Commitment - China is actively participating in the global sustainable disclosure framework, with plans to establish a unified sustainable information disclosure system and verification business by 2030 [3][12]. - The upcoming 14th Five-Year Plan will introduce significant policy changes, including a comprehensive carbon management system that will impact all industries [3][12]. Group 3: Benefits for Enterprises - Adopting ISSB standards will provide enterprises with four key benefits: identifying risks and opportunities in their value chain, quantifying the impact on enterprise value, enhancing core competencies through compliance, and integrating sustainable disclosure into financial reporting [3][12]. Group 4: Collaborative Efforts - The transition to a green low-carbon economy is seen as an inevitable historical trend, requiring collaboration among financial institutions and enterprises to build a sustainable information disclosure ecosystem [4][13]. - The conference aims to gather global wisdom to explore new paths for sustainable development, highlighting the importance of collective action in addressing sustainability challenges [6].

Core Insights - The 2025 Sustainable Global Leaders Conference is being held from October 16 to 18 in Shanghai, focusing on sustainable development and governance [1][4] - Zhang Zhengwei, a key figure from the International Sustainability Standards Board (ISSB), highlighted three major issues in global sustainability information disclosure: lack of standards, high compliance costs, and poor comparability of information [3][4] Group 1: Issues in Sustainability Disclosure - The fragmentation of standards leads to confusion, with various frameworks like GRI and CDP lacking effective coordination, resulting in a "multi-standard" chaos [3] - High compliance costs arise from the need for companies to adapt to different regulatory requirements across regions, which is particularly burdensome for small and medium-sized enterprises [3][4] - Poor comparability of sustainability information hampers decision-making, as investors struggle to assess the sustainability levels of projects due to inconsistent reporting standards [4] Group 2: ISSB's Role and Goals - The ISSB aims to create a "global common language" for sustainability information disclosure, moving away from voluntary standards to enforceable, high-quality guidelines [4] - As of June 2023, the ISSB has released basic and climate standards, with 37 economies adopting them, covering 60% of global GDP and greenhouse gas emissions [4] - China is also working on a unified sustainability disclosure framework, aiming for completion by 2030 to provide clear compliance guidelines for enterprises [4] Group 3: Conference Highlights - The conference is co-hosted by the World Green Design Organization and Sina Group, with support from the Shanghai Huangpu District Government, focusing on global action and sustainable growth [4][5] - Approximately 500 prominent guests are invited, including international leaders, Nobel laureates, and executives from Fortune 500 companies, enhancing the conference's significance [5]

登录新浪财经APP 搜索【信披】查看更多考评等级 专题：2025可持续全球领导者大会&首届绿色产业与可持续消费博览会 炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 2025可持续全球领导者大会于10月16日-18日在上海市黄浦区世博园区召开。中国证券监督管理委员会 上市司一级巡视员 毕晓颖出席会议并发表《筑牢上市公司可持续发展制度基石》主题演讲。 毕晓颖指出，当前，全球可持续信息披露领域出现一些杂音、噪音，部分甚至出现反复和后退。她强 调，我们承诺的"双碳"目标是确定不移的，但达到这一目标的路径和方式、节奏和力度则应该而且必须 由我们自己作主，决不受他人左右。 她进一步表示，将依据新"国九条"的要求，坚定不移地支持并引导上市公司开展高质量的可持续信息披 露工作。其中，将继续按照区分重点、试点先行、循序渐进、分步推进的策略，坚定不移推动政策落 地。 毕晓颖表示，目前，交易所披露指引要求个别重要指数样本公司以及境内外同时上市的公司强制披露， 涉及约400多家公司。强制披露家数虽然不多，但市值已经占到全市场半数以上。要求强制披露公司自 2026年首次披露，其中已经有95%的公司提前披露了 ...

她进一步表示，将依据新"国九条"的要求，坚定不移地支持并引导上市公司开展高质量的可持续信息披 露工作。其中，将继续按照行胜于言、言必求实的实践导向，坚定不移引导以高质量发展推动高质量披 露。 她指出，大道至简，实干为要。可持续披露的核心不是披露，而是高质量发展，只有做好可持续实践， 才能做好可持续披露。 登录新浪财经APP 搜索【信披】查看更多考评等级 专题：2025可持续全球领导者大会&首届绿色产业与可持续消费博览会 炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 2025可持续全球领导者大会于10月16日-18日在上海市黄浦区世博园区召开。中国证券监督管理委员会 上市司一级巡视员 毕晓颖出席会议并发表《筑牢上市公司可持续发展制度基石》主题演讲。 毕晓颖指出，当前，全球可持续信息披露领域出现一些杂音、噪音，部分甚至出现反复和后退。她强 调，我们承诺的"双碳"目标是确定不移的，但达到这一目标的路径和方式、节奏和力度则应该而且必须 由我们自己作主，决不受他人左右。 本届可持续大会在以往四届"ESG全球领导者大会"的基础上进一步升级！嘉宾阵容强大，可持续大会组 委会邀请约500位中外重磅 ...

炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 专题：2025可持续全球领导者大会&首届绿色产业与可持续消费博览会 2025可持续全球领导者大会于10月16日-18日在上海市黄浦区世博园区召开。中国证券监督管理委员会 上市司一级巡视员 毕晓颖出席会议并发表《筑牢上市公司可持续发展制度基石》主题演讲。 毕晓颖指出，当前，全球可持续信息披露领域出现一些杂音、噪音，部分甚至出现反复和后退。她强 调，我们承诺的"双碳"目标是确定不移的，但达到这一目标的路径和方式、节奏和力度则应该而且必须 由我们自己作主，决不受他人左右。 她进一步表示，将依据新"国九条"的要求，坚定不移地支持并引导上市公司开展高质量的可持续信息披 露工作。其中，将继续按照"积极借鉴、以我为主、兼收并蓄、彰显特色"的原则，坚定不移逐步完善制 度。 一方面，借鉴国际可持续披露领域的有益经验，深入研究其成熟和有效做法，加强与国际各类可持续规 则的衔接。另一方面，国际可持续披露领域存在的杂音、噪音，也正说明了可持续披露总体仍是新生事 物，还有需要不断探索、持续完善的一面，因此不能照抄照搬、走极端。 登录新浪财经APP 搜索【信披】查 ...

登录新浪财经APP 搜索【信披】查看更多考评等级 2025可持续全球领导者大会于10月16日-18日在上海市黄浦区世博园区召开。中国证券监督管理委员会 上市司一级巡视员 毕晓颖出席会议并发表《筑牢上市公司可持续发展制度基石》主题演讲。 专题：2025可持续全球领导者大会&首届绿色产业与可持续消费博览会 炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 对于尚未进行披露的强制披露范围公司，毕晓颖表示，将督促交易所加强针对性指导，帮助企业做好首 次披露。同时，还有上千家公司自愿披露可持续报告。可以说，目前的披露范围总体能够满足各类投资 者的需求。对于不在强制披露范围的中小企业，鼓励企业量力而行，不作强制要求。我们不盲目追求披 露家数，而是会在政策评估和企业实践能力评估的基础上，综合考虑扩大覆盖面的节奏。 2025可持续全球领导者大会由世界绿色设计组织（WGDO）与新浪集团联合主办，国际财务报告准则 基金会（IFRS Foundation）北京办公室协办，新浪财经与世界绿色设计组织北京代表处承办，上海市黄 浦区人民政府支持。大会以"携手应对挑战：全球行动、创新与可持续增长"为核心主题，汇聚全 ...

Core Viewpoint - The ISSB standards are being adopted globally, with 37 countries and regions implementing them, covering 60% of global GDP and 80% of the total market value of global capital markets outside the US, highlighting the importance of sustainable financial disclosures for investors [2][5]. Group 1: ISSB Standards and Global Adoption - The ISSB, established in 2021 under the IFRS Foundation, released its first two international sustainability disclosure standards in June 2023, which will take effect in January 2024, marking the beginning of mandatory sustainability information disclosure in global capital markets [3][5]. - Currently, 37 countries and regions have announced their adoption or integration of ISSB standards into their regulatory or legal frameworks, with China set to release its "Corporate Sustainability Disclosure Standards - Basic Standards (Trial)" by the end of 2024 [5][6]. Group 2: Relationship Between Financial Reporting and Sustainability Disclosures - ISSB emphasizes that sustainability-related financial information complements traditional financial statements, providing investors with a comprehensive view of risks and opportunities, particularly regarding sustainability risks like climate change [3][4]. - Unlike accounting standards, which have specific rules based on foundational assumptions, sustainability disclosure rules are designed to support investor decision-making but differ significantly from accounting standards [3][4]. Group 3: Focus on Investor Concerns - ISSB aims to create a global benchmark for mandatory sustainability-related financial disclosures that serve investors, distinguishing itself from voluntary frameworks like GRI [5][6]. - Strict adherence to ISSB standards in sustainability reporting can lead to concise reports that focus on investor concerns, avoiding the need for investors to seek third-party interpretations of a company's sustainability risks and performance [6].

Core Viewpoint - Zhejiang has taken on the mission of advancing ecological civilization construction, leveraging the "Two Mountains" concept to balance economic development and ecological protection, achieving significant results in green finance and low-carbon transformation [1] Group 1: Green Finance Development - Green finance is a crucial tool for transforming ecological resources into economic benefits, with Zhejiang initiating a provincial-level green finance reform pilot in 2014 and a national-level pilot in 2017 [1][2] - As of the second quarter of this year, the balance of green loans in Zhejiang reached 4.43 trillion yuan, accounting for 17.5% of total loans [2] - The establishment of a comprehensive standard system for green finance has been emphasized, with over 30 local standards published in Huzhou and Quzhou, and 13 group standards released by the Zhejiang Provincial Financial Society [2][3] Group 2: Digitalization and Information Sharing - Digital platforms for green finance have been developed to facilitate efficient matching of green investment and financing, including the creation of carbon account systems in Huzhou and Quzhou [3] - A cross-regional green finance information management system has been established to enable data sharing and connectivity in the Yangtze River Delta [3] Group 3: Transition Finance Initiatives - Transition finance is essential for supporting high-carbon industries in their low-carbon transformation, with Zhejiang focusing on developing standards and pilot projects in this area [4][5] - The province has released several pioneering standards for transition finance, including guidelines for supporting the textile industry's green and low-carbon development [4] Group 4: Sustainable Information Disclosure - Zhejiang has achieved full coverage of sustainable information disclosure among financial institutions, with 86.9% of banks conducting quantitative disclosures by the end of 2024 [6] - The development of a digital module for sustainable information disclosure has been implemented, allowing for online reporting and data collection [6] Group 5: Future Plans for Green Finance - The Zhejiang Provincial Financial Society plans to enhance monetary policy tools to support green loans and reduce financing costs in green sectors [7] - There will be a focus on expanding transition finance practices in key industries such as textiles and agriculture, with an emphasis on developing carbon account-based financial products [8] - Efforts will be made to improve the capacity for sustainable information disclosure and integrate natural-related information into existing disclosure frameworks [9]

Core Viewpoint - Zhejiang has taken on the mission of advancing ecological civilization construction, leveraging the "Two Mountains" concept to balance economic development and ecological protection, achieving significant results in green finance [1][2]. Group 1: Green Finance Development - Green finance is a crucial tool for transforming ecological benefits into economic gains, with Zhejiang initiating a provincial-level green finance reform pilot in 2014 and a national-level pilot in 2017 [2]. - The financial sector in Zhejiang has implemented various policies and measures to support green finance, resulting in a green loan balance of 4.43 trillion yuan, accounting for 17.5% of total loans as of Q2 2023 [3]. Group 2: Policy and Standards - Zhejiang has introduced 20 key measures to enhance green finance, focusing on total support and capacity building [3]. - The region has established a robust standard system for green finance, with over 30 local norms published, and has developed 13 group standards, leading the nation in quantity [3][4]. Group 3: Digitalization and Collaboration - Digital platforms have been created to facilitate precise matching of green investment and financing, including a carbon information sharing mechanism [4]. - Zhejiang encourages international collaboration to enhance green finance capabilities, exemplified by the establishment of a green finance research institute in Huzhou [4]. Group 4: Transition Finance - Transition finance is essential for supporting high-carbon industries in their low-carbon transformation, with Zhejiang focusing on developing standards and pilot projects [5][6]. - The region has issued guidance for transition finance in the textile industry, with 6.55 billion yuan in transition loans already disbursed [6]. Group 5: Sustainable Information Disclosure - Zhejiang has achieved full coverage of sustainable information disclosure among financial institutions, with 86.9% of banks conducting quantitative disclosures by the end of 2024 [7][8]. - The province has developed a digital module for sustainable information disclosure, streamlining the reporting process for financial institutions [7]. Group 6: Future Plans - The People's Bank of China Zhejiang branch plans to enhance green finance support through monetary policy tools, aiming for steady growth in green loans [9][10]. - Future initiatives will focus on expanding transition finance in key industries and improving the capacity for sustainable information disclosure [10][11].