Shanghai Stock Exchange Issues New Self-Regulatory Guidelines for Listed Companies
On February 8, the Shanghai Stock Exchange issued the “Shanghai Stock Exchange Self-Regulatory Guidelines for Listed Companies No. 14 – Sustainability Reporting (Trial) (Draft for Comments)” aimed at promoting better sustainable development of companies and investment value. The guidelines have been open for public comments regarding the market opinion.
The guidelines seek to strengthen the disclosure of sustainable development information, guide various elements, gather in the field of sustainable development and promote the dual carbon goal. The six-chapter guidelines seek to further enrich and improve sustainable development information disclosure requirements.
It establishes a sustainable development information disclosure framework centered around the four core contents of governance, strategy, impact, risk and opportunity management, indicators, and goals.
The guidelines have also clarified environmental, social, and corporate governance disclosure issues. At the same time, they have lowered disclosure standards based on actual conditions.
The Shanghai Stock Exchange aims to combine mandatory disclosure with voluntary disclosure and qualitative disclosure with quantitative disclosure. Transitional arrangements and other mitigation measures are also provided to give listed companies ample time to prepare for capacity building and implementation.
With the recent focus on green finance and the high-quality development of listed companies, the guidelines aim to effectively guide companies to fulfill their social responsibilities and encourage the disclosure of sustainable development-related information.
Based on the content of the report, the guidelines are divided into three dimensions: environment, society, and corporate governance, and set 20 specific topics. It encourages companies to comprehensively consider society while pursuing economic interests and invest more resources in the implementation of national strategies.
According to the report, the disclosure rate of sustainable development reports reached a new high, indicating an improvement in the quality of disclosed reports.
In the future, sustainability reports are expected to become an important position in leading market values and demonstrate the company’s high-quality development.
The Shanghai Stock Exchange stated that it will continue to improve the investment value of listed companies and investor return levels and enrich the sustainable development institutional system, product system, and service system.
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