In order to continuously adapt to the new changes in the market, promote the green and low-carbon strategic transformation of enterprises, guide high-quality development, it is imperative to establish relevant guidelines for ESG that fit China's national conditions. As one of the most renowned financial centers in China and even globally, Shanghai bears the responsibility of leading the formulation of Chinese ESG standards, creating a standardized system that integrates local characteristics with international recognized rules.
Guided by Xi Jinping’s ecological civilization ideology and the spirit of The Central Committee of the Communist Party of China and the State Council's Opinions on Comprehensively Promoting the Construction of Beautiful China, following the requirements of Shanghai Municipality's Action Plan for Enhancing the ESG Capacity of Foreign-Invested Enterprises in the City (2024-2026), this standard guideline has been developed to help enterprises regulate their preparation of ESG reports and meet the expectations of relevant stakeholders such as the SASAC, Ministry of Finance, listed companies, regulatory bodies, and investors. The Shanghai Federation of Industry and Commerce's Legal Affairs Special Committee took the lead in formulating the Enterprise ESG Environment, Society, and Governance Report Guidelines. The federation invited numerous experts from various industries, professions, and fields to participate in the development of this standard guideline and initiated extensive research, which fully reflected the results of the surveys.
We hope that this standard guideline can help enterprises improve their level of sustainable development and enhance communication and trust with stakeholders.
1. Standardize and guide the preparation of ESG reports for enterprises: Based on China's national conditions and characteristics, while integrating international common ESG rules, this guideline provides a basic framework, content, and methods to ensure high-quality ESG reporting.
2. Promote sustainable development for enterprises: Through this guideline, enterprises can regularly evaluate and improve their performance in these areas by preparing and publishing ESG reports, managing ESG risks and opportunities.
3. Provide basis for evaluation and decision-making: ESG reports help investors gain a comprehensive understanding of the operating conditions and risks of enterprises, serving as a reference for investment decisions. This guideline also serves as a reference for government agencies, SASAC, Ministry of Finance, federations, regulatory bodies, and other stakeholders to identify the content and quality of enterprise ESG reports, facilitating validation and rating work.
T/SFIE 001-2024 history
2024T/SFIE 001-2024 Guidelines for the Preparation of Corporate Environmental, Social and Governance Reports