On the 23rd, sun nianrui, member of the Party committee and vice president of China Association of listed companies, said at the “2022 finance and Economics Sustainable Development Summit Forum” that today’s world is in a great change that has not been seen in a century, and the profound changes in the situation outside China put forward an urgent demand for high-quality economic development. Promoting listed companies to implement national strategies such as green development and innovation driven and actively practice ESG concept is a historical task to promote sustainable and healthy economic and social development, which requires listed companies and all parties in the market to jointly improve the quality and efficiency of development and make due contributions.
Sun nianrui introduced that on December 18, China Association of listed companies and China Securities Index Co., Ltd. jointly issued the white paper on ESG development of Chinese listed companies (2021), which made a systematic analysis and summary on the ESG development of A-share listed companies for the first time, providing a window for all sectors of society to understand the ESG development of Chinese listed companies.
According to the white paper survey, in recent years, the level of ESG information disclosure of A-share listed companies has increased year by year, and the number and proportion of listed companies that actively disclose ESG information have increased year by year. Specifically reflected in: first, the carbon efficiency of listed companies has been gradually improved, and the green concept has been paid more attention; Second, the ESG governance system has been continuously improved and the governance level has been continuously improved; Third, the implementation of social responsibility has achieved remarkable results, and the protection awareness of stakeholders is increasing.
In addition, according to the statistics of the white paper, higher ESG governance capability enables the company to have better investability and anti risk ability. According to the CSI 500 grouping test, the ESG high score portfolio has higher return than the low score portfolio, has better risk return performance, and realizes the “unity and win-win” of social and economic benefits.
Sun nianrui believes that ESG is an imported product, which has been widely concerned and actively explored by Chinese listed companies, and problems and difficulties are inevitable.
First, there are certain differences in the acceptance of Listed Companies in different fields. Chinese listed companies differ in ownership, scale and sector. Different industries and different development stages determine that there are differences in short-term demands and long-term goals of listed companies. For example, the mining industry should pay attention to pollution control, biodiversity protection, safety and health, while the software industry and the financial industry regard the privacy protection of customers and consumers as an important topic for sustainable development. Some listed companies have established a mature system of sustainable development, while others do not pay attention to the concept of ESG, which is an objective phenomenon.
Second, there are still some challenges in information disclosure. The ESG work of many listed companies is still in the exploratory stage, and the implementation of ESG is lack of pertinence and effectiveness. some companies have achieved positive results in practicing ESG, but more companies don’t know how to say it or don’t consciously say it. In the face of investors, especially foreign institutional investors, how to tell the story of Chinese companies is still a difficult problem for many listed companies.
third, the localized ESG evaluation system lacks authority. at present, the mainstream rating agencies are all overseas institutions. Due to the differences in national conditions and culture, there may be a large gap between foreign ratings and the actual social value or self perceived value of Chinese enterprises. For example, its contribution to epidemic prevention and control and poverty alleviation is difficult to be well reflected, and the evaluation indicators are not fully suitable for Chinese enterprises. In addition, although many institutions in China have issued ESG evaluation systems, due to the different background, objectives and cognition of rating agencies, the evaluation results vary greatly, and the authority, guidance and demonstration role are limited.
Sun nianrui said that the China Association of listed companies has always attached great importance to the ESG work of listed companies. Next, the China Association of listed companies will give further play to its advantages of being close to listed companies and give full play to the role of self-discipline management. On the basis of summarizing the practice of ESG information disclosure at home and abroad, the model text of ESG information disclosure by industry is launched to provide practical reference for listed companies to disclose relevant information; Second, continue to publish ESG best practice cases and white papers, and establish a normalized communication mechanism and platform among listed companies, institutional investors and relevant institutions; Organize the establishment of ESG alliance of listed companies and explore the construction of ESG evaluation system with Chinese characteristics.
(Xinhua Finance)
