ESG disclosure standards: international and chinese case studies

Abstract

This study is dedicated to revealing the  implications of international ESG (Environmental, Social, Governance) disclosure standards and  practices for China. The research task is to systematically sort out and analyze the current mainstream international ESG standards and their latest developments. At the same time, combined with China’s ESG disclosure policies and  practices, it provides helpful references for formulating ESG disclosure standards and  frameworks with Chinese characteristics. This paper is based on processing secondary data obtained through qualitative analysis of  relevant literature and official government documents (plans, strategies, reports, and programs). The paper suggests that the  current Chinese government needs to (1) formulate an ESG disclosure standard system  with  Chinese  characteristics;  (2)  guide  ESG  market  entities  to  jointly  participate in the formulation and development of  the ESG standard system; (3) create a mandatory ESG disclosure system.