Core Viewpoint - The China Securities Regulatory Commission (CSRC) has guided the Shanghai, Shenzhen, and Beijing stock exchanges to revise the "Guidelines for the Preparation of Sustainable Development Reports by Listed Companies," adding three specific guidelines on "Pollutant Emissions, Energy Utilization, and Water Resource Utilization" to enhance ESG disclosure standards [1][2] Group 1: Relationship Between Guidelines - The newly introduced guidelines are a detailed implementation of the overarching "Guidelines for Sustainable Development Reporting," which serves as a framework for ESG disclosures [2] - The guidelines clarify what to disclose and how to disclose it, providing specific metrics and examples for companies to follow [2][9] Group 2: Significance of the New Guidelines - The primary aim of the new guidelines is to maintain a correct direction in promoting ESG principles, aligning with China's core policies on ecological civilization and common prosperity [3][4] - The guidelines reflect a pragmatic approach, focusing on key environmental issues that are relevant to China's sustainable development goals [5][6] Group 3: Gradual Implementation - The issuance of these guidelines demonstrates a "gradual and steady" approach to ESG disclosure, contrasting with the lengthy processes often seen in international organizations [7][9] - The guidelines are designed to be practical and applicable, avoiding overly complex regulations that may not suit the Chinese context [8][9] Group 4: Preparation for Mandatory Disclosure - Companies are advised to enhance training for staff to understand the guidelines, improve data collection systems, and simulate report preparation to identify potential issues before mandatory disclosures begin in 2026 [10][11] - Emphasizing action over words, companies should focus on identifying key issues and effectively communicating their sustainability efforts [11]