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Improving Environmental Information Disclosure for Listed Companies

2017-07-31author:source:

On July 18, 2017, the seminar on environmental information disclosure system for listed companies was jointly held by CCICED and China Securities Regulation Committee (CSRC).

The project is a policy demonstration project on green finance, which aims to provide policy recommendations for China’s listed companies to improve their environmental information disclosure based on international experience and the characteristics of China’s capital market. Progress of developing the disclosure system and challenges faced by listed companies were discussed during the meeting.

It was pointed out that the disclosure system for listed companies is in line with China’s national strategies, which will help channel and allocate more funds to the green industry. Yet some challenges remain, such as a lack of willingness to disclose by some heavy polluters, disclosure not in conformity with the requirements and disclosure cannot be effectively interpreted by investors.

The seminar suggests that there should be differentiated disclosure standards for listed companies in different industries, an incentive mechanism for disclosure so that those disclose duly can have better access to green finance. It was also suggested that securities exchanges should provide ESG training for listed companies to enhance their disclosure capabilities and environmental authorities should work closer with securities regulatory authorities in the field of data sharing so that the disclosure could be more relevant.

E-mail:li.yutong@mepfeco.org.cn

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