Core Viewpoint - The three major stock exchanges in China have taken significant steps towards enhancing sustainable development information disclosure by revising the "Sustainable Development Report Preparation Guidelines" and inviting public feedback until September 19, 2025 [1][3] Group 1: Purpose and Goals - The revision aims to guide listed companies in actively practicing sustainable development principles and to standardize their information disclosure related to sustainability [3] - The updated guidelines are expected to provide clearer and more actionable instructions for companies, particularly small and medium-sized enterprises, to improve the quality of their Environmental, Social, and Governance (ESG) disclosures [4][5] Group 2: New Application Guidelines - Three new application guidelines have been introduced: "Pollutant Emission," "Energy Utilization," and "Water Resource Utilization," which complement the previously released overall framework and climate change guidelines [4] - The revisions follow principles such as reinforcing conceptual guidance, clarifying disclosure points, providing reference examples without imposing additional mandatory disclosures, and ensuring continuous improvement [5] Group 3: Current Disclosure Practices - A-share listed companies have shown significant progress in sustainable development information disclosure, with over 1,300 companies in the Shanghai market alone publishing separate sustainability reports in 2024, accounting for 57% of listed companies [6] - In the Shenzhen market, 1,164 companies proactively published sustainability reports for 2024, representing over 40% of the total [6] - The ESG investment ecosystem is expanding, with over 162 index products based on the China Securities ESG evaluation, totaling more than 260 billion yuan, indicating a steady flow of long-term capital towards companies committed to sustainable development [7] Group 4: Future Developments - The China Securities Regulatory Commission plans to guide the three exchanges in launching more detailed guidelines on various topics to build a more complete, transparent, and practical sustainable development information disclosure rule system [8]

Core Viewpoint - The three major stock exchanges in China have initiated a public consultation on the revision of the "Sustainable Development Reporting Guidelines," aiming to enhance the quality of ESG information disclosure among listed companies [1][3][10] Group 1: Purpose and Goals - The revision aims to guide listed companies in actively practicing sustainable development principles and to standardize their ESG information disclosure [3][5] - The updated guidelines will provide clearer and more actionable instructions for companies, particularly benefiting small and medium-sized enterprises that lack experience in ESG disclosures [6][7] Group 2: New Guidelines and Framework - Three new application guidelines have been introduced: "Pollutant Emissions," "Energy Utilization," and "Water Resource Utilization," which complement the previously established overall framework and climate change guidelines [6][7] - The revisions follow principles such as reinforcing conceptual guidance, clarifying disclosure points, providing reference examples without imposing additional mandatory disclosures, and ensuring continuous improvement [7] Group 3: Current Practices and Trends - A significant number of A-share listed companies have made notable progress in sustainable development information disclosure, with over 1,300 companies in the Shanghai Stock Exchange alone publishing separate sustainability reports in 2024, accounting for 57% [9] - The ESG investment ecosystem is expanding, with over 162 index products based on the China Securities ESG evaluation, collectively exceeding 260 billion yuan in scale, indicating a steady flow of long-term capital towards companies committed to sustainable development [9]

Core Viewpoint - The three major stock exchanges in China have taken significant steps towards enhancing sustainable development information disclosure by revising the "Sustainable Development Report Preparation Guidelines" and inviting public feedback until September 19, 2025 [1][3]. Group 1: Purpose and Goals - The revision aims to guide listed companies in actively practicing sustainable development principles and to further standardize the disclosure of sustainable development information [3]. - The updated guidelines are expected to provide clearer and more actionable instructions for companies, particularly aiding small and medium-sized enterprises in adapting to ESG disclosure requirements [4][5]. Group 2: New Guidelines and Framework - Three new application guidelines have been introduced: "Pollutant Emissions," "Energy Utilization," and "Water Resource Utilization," which complement the previously released overall framework and climate change guidelines [4]. - The revisions follow principles such as reinforcing conceptual guidance, clarifying disclosure points, providing reference examples without imposing additional mandatory disclosures, and ensuring continuous improvement [5]. Group 3: Current Practices and Trends - A-share listed companies have shown significant progress in sustainable development information disclosure, with over 1,300 companies in the Shanghai market alone publishing separate sustainability reports in 2024, representing 57% of the total [6]. - In the Shenzhen market, 1,164 companies proactively published sustainability reports for 2024, accounting for over 40% of the total [6]. - The ESG investment ecosystem is expanding, with over 162 index products based on the China Securities ESG evaluation, collectively exceeding 260 billion yuan in scale, indicating a steady flow of long-term capital towards companies committed to sustainable development [7]. Group 4: Future Developments - The China Securities Regulatory Commission plans to guide the three exchanges in launching more detailed guidelines on various topics, gradually establishing a more complete, transparent, and practical sustainable development information disclosure rule system [8].

Core Viewpoint - The article discusses the recent release of guidelines for sustainable development reporting by the three major stock exchanges in China, aimed at enhancing the quality of ESG disclosures among listed companies and promoting sustainable practices [1][4]. Group 1: Guidelines Overview - The newly revised guidelines include three chapters focusing on "pollutant emissions," "energy utilization," and "water resource utilization," providing detailed guidance on risk and opportunity identification, accounting processes, and disclosure points [3][4]. - The guidelines serve as a "toolbox" for companies to identify important issues and analyze related risks and opportunities in sustainable development, while the disclosure rules act as a "syllabus" for ESG reporting [6][7]. Group 2: Implementation and Impact - By June 2025, 1,869 listed companies had disclosed sustainability reports, achieving an overall disclosure rate of 34.72%, an increase of approximately 10 percentage points compared to the previous two years [8]. - The guidelines emphasize the importance of risk and opportunity awareness among listed companies, aiming to standardize disclosure practices without imposing additional mandatory requirements [4][8]. Group 3: ESG Ratings Improvement - As of the end of 2024, 32% of companies in the Shanghai and Shenzhen stock markets saw improvements in their MSCI ESG ratings, with the proportion of companies receiving leading ratings (AAA, AA) rising from 0% five years ago to 7.2% [11][12]. - Enhanced ESG performance is expected to improve the public image of listed companies, attracting long-term capital and providing positive incentives for sustainable disclosures [11][12].