Group 1 - The core viewpoint is that the construction of a unified corporate sustainability disclosure standard system in China will lead to higher information disclosure requirements and transformation pressures for MSCI China A-share ESG-related industries [1] - Companies are required to disclose the financial impacts of sustainable risks and opportunities, strategic resilience, and externality impacts, which will reshape the industry value assessment system [1] - High-carbon industries such as electricity, steel, and cement will be the first to face these requirements, and industries that are prioritized for control are expected to receive support in terms of industrial policies and technological investments [1] Group 2 - The development of ESG standards in China has entered a fast track, with the three major A-share exchanges set to release the "Sustainable Development Report Guidelines" in 2024, and the Ministry of Finance promoting the formulation of application guidelines for nine key industries by 2025 [1] - The MSCI ESG ETF (159621) tracks the MSCI China A-share RMB ESG Universal Index, which is compiled by MSCI and selects listed companies in the China A-share market that meet ESG standards, reflecting the overall performance of companies focused on sustainable development practices [1] - The index constituents cover multiple industries, including finance and technology, and consider the ESG ratings of companies during the selection process, providing investors with a market benchmark that balances industry diversification and ESG investment value [1]