China: China Issues First ESG Disclosure
Standard
The China Enterprise Reform and Development Society, a
government-backed think tank, published the first China-focused
disclosure standard, entitled "Guidance for Enterprise ESG
Disclosure". The guidance applies to all Chinese companies
from June 1, 2022 and will serve as a reference for self- and
third-party evaluation. It is currently voluntary and has not been
made into law.
The ESG disclosure standard was developed in collaboration with
Chinese insurer Ping An, China Mobile, Ant Group and several other
companies. The guidance is intended to reflect local market
characteristics, taking into account Chinese laws and regulations
such as China's Environmental Protection Law and Product
Quality Law. It is based in part on the sustainability disclosure
requirements of the Hong Kong Stock Exchange and the Shanghai Stock
Exchange. While jurisdictions such as the UK, New Zealand, Japan
and Switzerland base their
