China targets corporate ESG disclosure rules by 2030 (2024)
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The Chinese Ministry of Finance announced that it is seeking public comment on rules for corporate sustainability disclosures. The Ministry hopes to have basic standards ready by 2027 and nationwide mandatory reporting starting in 2030.
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China aims to establish a national standard for corporate sustainability disclosure by 2030 as part of efforts to improve economic sustainability, tackle climate change and catch up with its global peers when it comes to environmental, social and governance (ESG) reporting. The Ministry of Finance has started seeking public opinion on a set of draft guidelines that aims to monitor such disclosures by companies and push ESG development in China, according to a notice on its website. “At present, most disclosures of sustainable information by Chinese enterprises are voluntary, and they rely on inconsistent standards, which is not conducive to the verification, rating and supervision process, and for the supporting role sustainability disclosures play in investment decision-making and economic development,” the ministry wrote in a statement published on Monday that explains the background to the draft guidelines.[1] |
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See also
- Environmental, social, and corporate governance (ESG)
- Economy and Society: Ballotpedia's ESG newsletter
External links
Footnotes
- ↑ Note: This text is quoted verbatim from the original source. Any inconsistencies are attributable to the original source.
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