Environment、Social and Corporate Governance (Environmental， Social and Corporate Governance， ESG) is leading the new trend globally。2004，ESG is officially proposed in a milestone report "WHO CARS WIRS"。Since then，ESG has received the attention and support of many countries and international organizations。According to the statistics of the China Listed Companies Association and the CSI Index Company，As of the first half of 2022，31.34%of the companies in the Shanghai and Shenzhen A -share listed companies released ESG related reports。At the same time，Social Value Investment Alliance (Shenzhen) released "2022 China ESG Development Innovation White Paper" display，As of the end of September 2022，The total size of the ESG theme fund in the mainland market in my country reached 273.464 billion yuan。Despite this，Many views still have doubts about ESG，Worried that the company will become a social charity institution and then damage the interests of shareholders。In view of this，What connotation does ESG have、How to advance the specific，Still need to be clarified。

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The 20th report of the Party emphasized: "It is necessary to firmly establish and practice the concept of green mountains and green mountains as Jinshan Yinshan，The highly planned development of the harmonious coexistence of people and nature。"Economy、Balanced development of ecology and society，It is the only way for us to start a new journey of high -quality development of human beings。This is the way to humans and the country，The same is true of the basic social unit such as the company。Now，Further transformation and upgrading of my country's economic turn to high -quality development and industrial structure，Related legislation will continue to increase the emphasis on the company's environment Bet365 app download and social impact，Continuously improve the protection level of investors。Correspondingly，Company's environment、Social and corporate governance risks will continue to increase，This is an inevitable process for market competition and selection in sustainable development。To seek the company's long -term development，Be sure to continue to strengthen the environment、The emphasis on social and corporate governance，To be lighter、steady attitude strides forward。

ESG is in response to this development trend，It can provide effective guidance for the company's sustainable development。June 26, 2023，The Council of the International Sustainable Guidelines released the "International Financial Report Sustainable Disclosure Code No. 1: General Requirements for Sustainable Related Financial Information" and "International Financial Report Sustainable Discovery Guidelines No. 2: Climate Related Disclosure" Final text，Published，attract widespread attention。From the perspective of globally，Many organizations are actively providing the report framework and standard for ESG，Including Global Reporting Initiative， GRI)、Climate-related financial information disclosure work group、Sustainability Accounting Standards Board, etc.。Where，GRI's ESG standard is adopted by 10,000 organizations in more than 100 countries，The most widely used standard for becoming the international community，This standard is a module system composed of multiple sets of standards related to each other，Including general standards、Industry standards and topic standards。These report standards can objectively provide useful guidelines for the company's development direction，Help it clarify what aspects should be improved based on the industry and company development goals of the industry，Make the company's operations and management of trace。

For the company's development，It can judge the economic and legal risks faced by the company earlier，bet365 best casino games Avoid business areas with high environment and social risks。If there are reports, it is displayed，A listed chemical fiber company in Zhejiang has been due to pollution emissions in 2022，attracted attention from many international rating agencies，This is not good news for investors from listed companies，Not conducive to the protection of shareholders and company interests。Of course，This objectively provides a better opportunity for the company's operations，It is conducive to the company's more active way to seek industrial transformation and upgrading。Compared to the previous corporate social responsibility (Corporate Social Responsibility，ESG does not conflict with the interests of shareholders，And more conducive to promoting the company's long -term value realization and promoting the solution of environmental and social problems，It is an active risk management rather than unilateral charity，In the end, it will create a win -win situation for many parties。

　ESG has an institutional foundation in my country 

Although ESG's mention is a new trend，But the specific content of ESG is no stranger to us。From the perspective of physical rules，Since the 1990s，We will start trying the environmentalized environment、Solution of social and corporate governance problems。1992，"Regulations on the Co., Ltd." more detailedly stipulated the governance specifications of the shares; 1993，"Company Law" put forward requirements for the company's behavior，If you follow the law、Observe professional ethics、Strengthen the construction of socialist spiritual civilization、Protect the legitimate rights and interests of employees and realize safety production。Earlier，Article 25 of the "Environmental Protection Law" promulgated in 1989 clearly stipulates: "Technology transformation of new industrial enterprises and existing industrial enterprises，High resource utilization rate should be adopted、Equipment and process with less emissions of pollutants，Adopt economic bet365 best casino games reasonable waste comprehensive utilization technology and pollutant treatment technology。"Looking at the current large -scale specialized environmental protection、Labor protection、Product responsibility、Company governance and other laws、Regulations and specifications，It is not difficult to find，my country's system has been ready to welcome ESG from the system。Of course，We need to further sort out and refine the above specifications，Combined with the research results of the company's social responsibility in my country in the past 20 years in the past 20 years，to better clarify the stage and key areas of my country's ESG system。

In terms of information disclosure rules，There are more institutional specifications and corresponding practice in my country。2006，Shenzhen Stock Exchange released the "Guidelines for Social Responsibility for the Social Responsibility of the Shenzhen Stock Exchange"，Leading the trend of listed companies voluntarily disclosed the report of social responsibility reports。Current，"Guidelines for the Management of Investors Relations of Listed Companies", "Company Information Disclosure Content and Format Standard No. 2 of Public Issuance of Securities —— The Content and Format of the annual Report" No. 2 -A series of specific rules such as voluntary information disclosure，All highlights the requirements for the disclosure of environmental and social responsibility information。Although many of the indicators are still at the stage of voluntary disclosure and lack of quantitative、Standardized expression，But there is no doubt，ESG information disclosure has become more important to listed companies。Reasons for the reason，International、Various ESG rating agencies in China，Russell、Ming Sheng Index and Lufut, etc.，Its rating results have important reference value for investment institutions，To a certain extent, it will affect the company's financing capabilities。So，The internal power bet365 best casino games of the listed company itself has ESG information disclosure。

　The main method of implementing ESG target 

First，ESG targets of different types of companies should take different methods and rhythm。For listed companies，Information disclosure is the main starting point for achieving the ESG target。For non -listed companies，ESG target achievements not only face information disclosure costs，and lack of effective ways to disclose information。The implementation path and difficulty of the two。From the perspective of promoting ESG target achievement as soon as possible，We should go step by step。First，Legislation should start with listed companies with relatively good economic strength and have information disclosure standardization channels，Direct information disclosure to indirectly promotes the company's operation and governance methods to continue to high level、High -quality change。Second，In view of the leader of business operations and standards in the industry，It is also at the core position in the supply chain，The improvement of the level of attention bet365 best casino games of the listed company ESG is bound to strengthen the upstream and downstream suppliers、Requirements for dealers，At the same time, it can produce a good demonstration effect on the industry。Last，For non -listed companies，We must pay attention to the ecological environment、Labor protection、The continuous improvement of legal norms such as product liability，Make good use of market mechanisms and legal mechanisms to promote the survival of the fittest。

2，The information disclosure method of the ESG bet365 best casino games of the listed company can adopt a gradual mode。The ESG information disclosure method adopted by major capital markets in the world is not the same。The United States is more conservative，But in 2022, its securities regulatory agency also proposed a more detailed "The Enhancement and Standardization of Climate-Related Disclosures"; the European Union in 2014 Promulgated " Non-FinanCial Reporting Directive，Public interest entities that require more than 500 bet365 live casino games people to perform compulsory report obligations，Corporate Sustainability Reporting Directive passed in 2022, further further。You can see，The realization of information disclosure is not done overnight。The most important job in our current stage is to formulate a feasible framework and evaluation indicator for the disclosure of ESG information，Try to present it in a quantitative manner。To effectively achieve transition，Grade solutions for "compulsory disclosure+compliance or explanation" can be adopted。What needs attention is，We must be based on the advantages of my country's large economic volume and industry category，Formulate general standards and industry standards that are more in line with the actual development of my country's economic development as soon as possible，Become the leader of the international ESG framework and standard。

third，ESG's realization should pay more attention to the market mechanism。ESG target needs to be disclosed in the listed company information、Administrative law enforcement and civil litigation to work together，But whether it is public law enforcement，Still private law enforcement，The cost cannot be underestimated。So，The important path to achieve the ESG goal is to fully stimulate the inner vitality of the market mechanism。One，The company must establish a core ESG management team in internal management to lead the company's goals，Internal motivation、Evaluation and company ESG target achievement matching，Promote ESG development from the inside。Its two，We should actively encourage business institutions to carry out the ESG rating system to build and develop rating business，Let ESG truly become a fashion in the capital market，Continuously stimulate market competition to form an increasingly complete ESG information disclosure and evaluation indicators。Its three，For the development of non -listed companies ESG，Also pay attention to the market mechanism，Constantly improving the bet365 best casino games standardization and transparency of the company's management and management，For market participants、Consumers, workers and other stakeholders "vote with feet" to create a better institutional environment。

　　(This article is the Study Study Research on the System Structure of Securities Supervision Invision in the Governance of Listed Companies "(21CFX077) phased achievement) 

(Author is an associate professor in Shenzhen University Law School)