Core Viewpoint - The major stock exchanges in China have revised their guidelines for the preparation of sustainable development reports for listed companies, introducing new attachments focused on pollution emissions, energy utilization, and water resource utilization, effective from September 5, 2025 [1][2]. Group 1: New Guidelines - The new guidelines aim to provide a reference for listed companies in preparing sustainable development reports without increasing their disclosure burden [2]. - The attachments include specific disclosure requirements related to pollution emissions, energy consumption, and water usage, with a focus on key indicators and targets [2]. - The guidelines are designed to enhance ESG (Environmental, Social, and Governance) governance awareness among listed companies and promote standardized operations [2]. Group 2: Implementation and Future Steps - The exchanges will modify and finalize the guidelines based on feedback received during the public consultation process [3]. - The exchanges have been integrating ESG principles into capital market regulations and have previously released guidelines to improve the quality of sustainable development disclosures [4]. - A three-year action plan has been established to enhance ESG governance capabilities and the quality of disclosures among listed companies in the Shanghai market [4].

Core Viewpoint - The major stock exchanges in China have revised their guidelines for sustainable development reporting, introducing new attachments focused on pollution emissions, energy utilization, and water resource usage, effective from September 5, 2025 [1][2]. Group 1: New Guidelines and Attachments - The new attachments include specific guidelines for pollution emissions, energy utilization, and water resource usage, aimed at enhancing the sustainability reporting framework for listed companies [1][2]. - The guidelines are designed to provide a reference for companies without imposing additional disclosure burdens, as they are based on existing requirements [1][2]. Group 2: Disclosure Requirements - Specific disclosure requirements include pollution emission information, reduction measures, impacts on employees and local communities, and environmental compliance for pollution emissions [2]. - For energy utilization, companies are required to disclose total energy consumption by type, energy structure, clean energy usage, and energy-saving goals [2]. - Water resource utilization guidelines mandate disclosures on total water consumption, usage intensity, water-saving goals, and water recycling practices [2]. Group 3: ESG Integration and Future Plans - The exchanges aim to enhance ESG (Environmental, Social, and Governance) governance awareness among listed companies and promote standardized operations through these guidelines [2]. - Future revisions of the guidelines will incorporate feedback from the public consultation process, further strengthening sustainable disclosure rules [2][3]. - The exchanges have committed to integrating ESG principles into capital market regulations, with ongoing efforts to improve the quality of ESG disclosures [2][3].