In order to guide listed companies to practice the concept of sustainable development, standardize the disclosure of relevant information and establish and improve the rule system, on February 8, the Shanghai, Shenzhen and North ** Stock Exchanges simultaneously issued guidelines for sustainable development reporting and solicited public opinions.
Shenzhen ** Exchange. Photo by Xinhua News Agency reporter Mao Siqian.
This is the first time that the three major exchanges have drafted guidelines on sustainability disclosure. The guidelines are divided into three dimensions: environmental, social and governance, and will strengthen the disclosure of sustainable development information of listed companies.
In November 2022, the China Securities Regulatory Commission (CSRC) required the establishment and improvement of the sustainable development information disclosure system in the "Three-year Action Plan for Promoting the Quality of Listed Companies (2022-2025)", formulating a system of sustainable development information disclosure rules for listed companies based on China's actual conditions, in line with international trends, and with Chinese characteristics, clarifying the implementation path, and gradually promoting it in stages in a planned manner. Since then, the three major exchanges, under the guidance of the SFC, have drafted and completed the sustainability reporting guidelines.
It is understood that the guidelines fully absorb the existing rules of the current exchange and relevant international experience, which not only facilitates the conversion of existing enterprises, but also helps to enhance the consistency and comparability of information disclosure, and realize the unification of qualitative and quantitative requirements.
The implementation steps are carried out in an orderly and pragmatic manner. The SSE 180, STAR 50, SZSE 100 and ChiNext index sample companies, as well as companies listed at home and abroad, are required to release their 2025 annual sustainability reports before April 30, 2026, involving 51% of the company's market capitalization. At the same time, other companies are encouraged to disclose their sustainability reports. Taking into account the characteristics of the development stage of innovative small and medium-sized enterprises on the Beijing Stock Exchange, the listed companies on the Beijing Stock Exchange generally implement the principle of voluntary disclosure.
It is reported that during the public consultation period, the exchange will listen to the opinions and suggestions of market participants through a variety of ways, fully study and demonstrate the absorption, and release the implementation to the market in a timely manner.
*丨Xinhua News Agency (the copyright belongs to the original author, if there is any infringement, please contact to delete).