ESG Disclosure by Listed Companies:Models Comparison,Risk Review and Mitigation Direction
Article 20 of the new"Company Law"requires companies to fulfill their corporate social responsi-bilities and encourages companies to promptly publish social responsibility reports.Good ESG performance can mitigate corporate downside risks,improve internal governance,and promote high-quality corporate development.However,ESG information disclosure by listed companies in China faces issues such as insufficient legal regula-tions,lack of standardized systems,and incomplete internal and supervisory management systems.To address these issues,it is necessary to improve the legal regulatory framework for ESG information disclosure by listed companies,unify the content and standards of ESG information disclosure,and enhance the internal and external compliance supervision and management systems for ESG information disclosure.This will help systematize the ESG information disclosure system for listed companies,and reduce illegal activities such as"greenwashing"and false ESG information disclosure,so as to achieve sustainable development for both listed companies and the capi-tal market.
ESGenvironmental disclosurefinancial disclosurecorporate governancesocial responsibilityenvironmental governancecapital marketssustainable development
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