ESG update / ESG 政策更新

本页面旨在更新ESG在港交所和中国证监会、深交所与上交所的ESG动态，及国外 ESG 政策。

根据联合国责任投资原则组织（PRI）统计，全球ESG相关法规数量增长明显，2020年已经达到500余条，其中2019年增加或修订了80余条政策。

页面更新：2024年5月

关于港交所ESG

更多可参考本站页面：香港交易所ESG指引发展史

2024 港交所更新

2024年4月19日，香港联交所刊发有关气候信息披露规定的谘询总结。联交所将修订有关建议，以更紧贴国际财务报告准则S2 号 — 气候相关披露（IFRS S2），详情载于咨询总结（新气候规定）。除了恒生综合大型股指数成份股的发行人之外，其他公司可不披露范围3温室气体排放。在最终版本中，港交所分层次（分要求、分主体、分阶段）的模式，对「D部分：气候相关披露」的披露责任进行了差异化安排。同步刊发了香港交易所环境、社会及管治框架下气候信息披露的实施指引、优化环境、社会及管治框架下的气候相关信息披露。本次修订后，港交所ESG指引将改名为《環境、社會及管治報告守則》。

2021 港交所ESG指引修订

2021年12月，香港证券及期货事务监察委员会和香港金融管理局也强调，金融机构和上市公司必须在2025年前披露气候变化对其业务的财务影响，而且规定的气候披露需要与气候相关财务信息披露工作组（TCFD）的标准保持一致。

2021年11月，港交所发布《气候信息披露指南》，旨在帮助在香港交易所寻求IPO的公司评估他们对气候变化引起的风险的反应。

2021年4月16日，港交所刊发检讨《企业管治守则》及相关《上市规则》条文的咨询文件，就若干修订建议公开咨询市场意见。本次修订建议主要引入多项新措施以提升香港上市公司的环境、社会及管治（ESG）披露和管理水平等范畴。（修订）

本次有关《企业管治守则》及相关《上市规则》条文的修订重点为管治（governance）事宜，主要包括企业文化、反贪污及举报政策、董事独立性、董事会成员多元化、提名委员会、股东沟通、ESG报告及时性等七个主要方面。

主要建议包括：

1. 企业文化

   • 强调企业文化与其目的、价值及策略必须一致及
   • 要求发行人制定反贪污及举报政策（新增守则条文，为「不遵守就解释」条文）。

2. 董事会独立性、引入新成员及继任规划–

   • 要求发行人制定政策，确保董事会可取得独立意见，并每年检讨其有效性（新增守则条文）。
   • 重选在任已超过九年的独立非执行董事（连任多年的独董）须经独立股东批准及须作出额外披露（修订守则条文）。
   • 若董事会内所有独立非执行董事均为连任多年的独董，则须于下次股东周年大会委任新的独立非执行董事，并披露连任多年的独董的姓名及已出任该职的时间（新增守则条文）。
   • 强制设立提名委员会，由独立非执行董事担任主席，成员须以独立非执行董事占大多数（提升为《上市规则》条文）。

3. 多元化–

   • 只有单一性别的董事会不会被视为多元化的董事会；
   • 强制发行人须制定可量化的目标及时间表，以在董事会层面及所有雇员层面均达到性别多元化（新增于《守则》下的强制披露规定）；及
   • 要求董事会每年检讨多元化政策的进展（新增守则条文）。在《上市规则》修订生效后，现时董事会只有单一性别的上市发行人将有三年的过渡期，以委任最少一名另一性别的成员加入其董事会；而联交所不预期未来的上市申请人的董事会只有单一性别。

4. 与股东的沟通–

   • 强制披露股东通讯政策，并每年检讨其有效性（提升为强制披露要求）。

5. 环境、社会及管治（ESG）–

   • 将刊发ESG报告的时限与年报一致（修订《上市规则》及ESG指引）。

ESG部分修订：

上市公司ESG影响日益突出，有效的ESG管治有助于发行人识别、评估并管理ESG风险和机遇。董事会作为上市公司最高决策机构，应在ESG管理中发挥重要作用。

在现行的ESG指引中，香港联交所强化了董事会ESG管治的责任，并要求上市公司强制披露由董事会发出的声明，其中应列出其对ESG事宜的考量及监督，并披露公司ESG管治架构。

在本次修订建议中，香港联交所将详细解释企业管治与ESG两者之间的关系，并在有关风险管理的部分加入ESG风险的表述，以提升上市公司对ESG的足够重视。

此外，基于ESG资料日趋重要，市场普遍认为最佳常规是公司ESG数据与财务数据同步发布，以突出两者的相互依赖性，让董事会对公司进行全面的评估，以制定一致的策略和执行计划。

在现行的ESG指引中，香港联交所要求ESG报告在上市公司财政年度结束后五个月内刊发。

2019新版ESG指引

• 发布时间：主板发行人须在年结日后四个月刊发ESG报告，创业板发行人须在年结日后三个月内刊发ESG报告。
  • 2015规定：若ESG报告非载于发行人的年报中，发行人应尽可能接近其刊发年报的时间，而不迟于刊发年报后的三个月内发布。
• 指标数量：12个层面，48个指标
  • 2015：11个层面，43个指标
• 董事会参与：发行人须在ESG报告中披露一份董事会声明，阐述董事会对于ESG事务的管理状况。
• 报告遵守的原则
  • 2015：无强制性披露要求
  • 2019：新增强制披露事项：编制ESG报告时遵循哪些原则及如何遵循。
• 报告边界的选定
  • 2015：无强制性披露要求
  • 2019新增强制披露事项：描述哪些实体或业务纳入ESG报告范围。
• 环境范畴指标
  • 新增气候变化层面，新增一个关键绩效指标，强制要求披露：描述已经及可能会对发行人产生影响的重大气候相关事宜，及其应对的行动。
  • 新增部分指标的目标设定要求，强制要求披露：排放量目标、减废目标、能源使用效益目标、用水效益目标，以及目标达成情况。
• 社会范畴指标
  • 2015：关键绩效指标为“建议披露”
  • 2019：关键绩效指标为“不遵守则解释”的强制披露。
  • 供应链管理层面新增2个关键绩效指标，强制要求披露：识别供应链每个环节的环境及社会风险的惯例；在拣选供货商时促使多用环保产品及服务的惯例。
  • 反贪污层面增加1个关键绩效指标，强制要求披露：描述向董事及员工提供的反贪污培训。

关于中国证监会的ESG

时间线

• 2003年《关于企业环境信息公开的公告》
• 2006和2008年交易所指引
• 2015年《环境保护法》
• 2016年《关于构建绿色金融体系的指导意见》
• 2017年证监会修订定期报告披露要求
• 2018年证监会修订《上市公司治理准则》
• 2022年证监会修订《上市公司投资者关系管理工作指引》，加入ESG内容
• 2024年证监会指导三大交易所发布《可持续发展报告指引》

政策演变

• 2002.01 证监会 《上市公司治理准则》 对上市公司治理信息的披露范围做出了明确规定
• 2007.04 国家环境保护总局 《环境信息公开办法（试行）》 鼓励企业自愿通过媒体、互联网或者企业年度环境报告的方式公开相关环境信息
• 2007.12 国资委 《关于中央企业履行社会责任的指导意见》 将建立社会责任报告制度纳入中央企业履行社会责任的主要内容
• 2008.02 国家环境保护总局 《关于加强上市公司环境保护监督管理工作的指导意见》 环保总局与中国证监会建立和完善上市公司环境监管的协调与信息通报机制，促进上市公司特别是重污染行业的上市公司真实、准确、完整、及时地披露相关环境信息
• 2010.09 环境保护部 《上市公司环境信息披露指南（征求意见稿）》 规范了上市公司披露年度环境报告以及临时环境报告信息披露的时间与范围
• 2017.12 证监会 《第17 号公告》和《第18号公告》鼓励公司结合行业特点，主动披露积极履行社会责任的工作情况；属于环境保护部门公布的重点排污单位的公司或其重要子公司，应当根据法律、法规及部门规章的规定披露主要环境信息
• 2018.09 证监会 《上市公司治理准则》修订 增加了利益相关者、环境保护与社会责任章节，规定了上市公司应当依照法律法规和有关部门要求披露环境信息（E）、履行扶贫等社会责任（S）以及公司治理相关信息（G）
• 2019年7月推出的科创板在制度设计中将“以信息披露为核心”作为重要理念。上交所在科创板《上市规则》中对ESG相关信息做出强制披露要求，文件明确要求科创板上市公司积极承担社会责任，维护社会公共利益。
• 2021年3月30日，生态环境部组织起草了《碳排放权交易管理暂行条例（草案修改稿）》，并公开征集意见。链接 附件1：碳排放交易管理暂行条例（草案修改稿）
• 2022年4月11日，中国证监会对《上市公司与投资者关系工作指引》（证监公司字〔2005〕52号）进行了修订，形成了《上市公司投资者关系管理工作指引》（本站备份）。在第二章第七条加入”（四）公司的环境、社会和治理信息“。修订说明 (本站备份)中提到”四是落实新发展理念的要求，在沟通内容中增加上市公司的环境、社会和治理（ESG）信息“。

证券交易所

深交所、上交所

• 2020年9月4日，深交所新修订《上市公司信息披露工作考核办法》（本站备份），纳入ESG报告加分项；（新闻链接：关于发布《深圳证券交易所上市公司信息披露工作考核办法（2020年修订）》的通知）

• 2020年9月25日，上交所发布《上海证券交易所科创板上市公司自律监管规则适用指引第2号——自愿信息披露》，纳入ESG信披内容（“关于发布《上海证券交易所科创板上市公司自律监管规则适用指引第2号——自愿信息披露》的通知”）。官方附件（本站附件）

• 2024年4月12日，沪深北交易所发布了《上市公司自律监管指引——可持续发展报告（试行）》。

新交所

新交所监管公司于

• 2021 年 12 月公布气候信息披露规则。

• 2022 年 1 月 1 日起，企业均应依据“遵循或解释”原则，在其财年的可持续发展报告中披露气候信息。

• 2023 财年起，金融、农业、食品和森林产品以及能源等行业的企业须强制披露气候信息。

• 2024 财年起，材料和建筑以及运输等行业须执行同等措施。有关咨询文件和新交所答复的详细信息参见此处。

• 从2025财年开始，所有上市公司要报告并提交年度气候信息披露（CRD），该披露要与国际可持续准则理事会（ISSB）的标准相一致（align with ISSB standards）。

• 从2027财年开始，大型非上市公司（年收入至少10亿元、总资产至少5亿元）也将被要求强制披露。

  • 对范畴1/2/3的碳排放披露，分阶段、分公司类型提出要求：上市公司从2025财年起披露范畴1和2，从2026财年起披露范畴3；大型非上市公司从2027财年起披露范畴1和2，不早于2029财年起披露范畴3。
  • 对范畴1和2的外部有限鉴证（审验），也是分阶段、分公司类型提出要求：上市公司从2027财年开始要求审验；大型非上市公司从2029财年开始要求审验。

日本

• 2022 年 6 月，日本内阁发布《新资本主义宏伟计划与行动方案》。

• 未来将要求资产管理机构优化信息披露，并于 2022 财年末（即 2023 年 3 月底）前根据监管指南采取必要措施，进而提升国内 ESG 投资市场可靠性。

亚洲市场、政府的 ESG 监管

下文列出了部分亚洲市场的政府和监管动态清单（非详尽），以说明截至 2020 年 6 月所规划和现有的举措类型。转自 Asia Securities Industry & Financial Markets Association (点开查看大图)

美国 SEC 规定

2022年3月21日，美国证券交易委员会（SEC）发布了一份长达500多页的拟议规则，首次要求在美国上市企业注册为上市公司时以及在定期报告中，披露气候相关风险和温室气体排放信息。这是美国总统拜登推动全球共同努力避免气候灾难的举措之一。

As the 510-page notice released on March 21 makes clear, companies would be expected to include a laundry list of items in their regular filings with the SEC: information on the company’s “oversight and governance of climate-related risks,” any expected climate-related risks it faces in the future, any transition plans the business has developed, and data on certain greenhouse gas emissions linked to the company’s operations, among other things.(link)

Key Components of the Proposed Climate Disclosure Requirements

Quote from Deloitte

In the proposing release, the SEC noted that the disclosures registrants would be required to provide are similar to those that many companies provide under existing disclosure frameworks and standards, such as the Financial Stability Board’s Task Force on Climate-Related Financial Disclosures (TCFD) and the Greenhouse Gas Protocol. Registrants would be required to provide the following types of disclosures:

• Financial statement footnote disclosures:

  • The impact on financial statement line items related to severe weather events and other natural conditions (e.g., impairment charges, increased loss reserves) and transition activities (e.g., changes in salvage values or useful lives of assets) if such amount exceeds 1 percent of the related line item.
  • The expenditures related to mitigating the risk of severe weather events and other natural conditions and transition activities.
  • How severe weather events and other natural conditions and transition activities affected estimates and assumptions reflected in the financial statements.

• GHG emission disclosures:

  • Scope 1 and Scope 2 GHG emissions (i.e., from a registrant’s owned or controlled operations and purchased or acquired electricity, steam, heat, or cooling, respectively), which would need to be separately disclosed on a disaggregated (by each GHG) and aggregated basis. This disclosure would be required on a gross basis (before consideration of any offsets) and relative to intensity (e.g., tons of carbon dioxide per dollar of revenue).
  • Scope 3 GHG emissions (i.e., from indirect upstream and downstream activities) in gross terms (before consideration of any offsets) and relative to intensity, if the registrant has set a GHG emissions target or goal that includes Scope 3 emissions or if Scope 3 emissions are material. Scope 3 GHG emission disclosures would be subject to securities law safe harbor provisions.

• Qualitative disclosures

  • How climate-related risks have (1) had or are likely to have a material impact on the business and its financial statements as well as (2) affected or are likely to affect the registrant’s “strategy, business model, and outlook.”
  • The registrant’s processes for detecting, evaluating, and managing climate-related risks and whether those processes are integrated into the registrant’s broader risk management program.
  • If a registrant uses an internal carbon price, the registrant’s internal carbon price and how such price is determined.
  • If the registrant uses a scenario analysis to assess its business in the context of climate-related risks, a description of the scenarios, assumptions, and projected financial impacts.
  • If a registrant has adopted a climate transition plan, a description of such plan as well as relevant targets and metrics.
  • If the registrant has publicly disclosed climate-related targets or goals:
    • The scope of activities encompassed, the time horizon envisioned, and any interim targets established.
    • How the registrant plans to achieve its targets or goals.
    • An update each year of how the registrant is progressing relative to its targets or goals and how such progress has been achieved.
    • If carbon offsets or renewable energy certificates (RECs) have been used as part of the plan to achieve climate-related targets or goals, information about the carbon offsets or RECs, including how much of the progress made is attributable to offsets or RECs.

• Governance disclosures — How the registrant’s board of directors and management oversee climate-related risks, the risk management process, and the registrant’s response.

• Location, timing, and applicability of the required disclosures — Under the proposed rule, a registrant would provide the disclosures in its registration statements as well as its annual reports filed under the Securities Exchange Act of 1934. The disclosures outlined in the financial statement footnote disclosures section above would be required in the financial statements, whereas the remaining disclosures, including GHG emissions, would be required in a newly created section of Form 10-K (Item 6) immediately before MD&A. The disclosures would be due at the same time as a registrant’s annual report and would be required for both domestic and foreign registrants. As discussed below, smaller reporting companies would be exempt from Scope 3 GHG emission disclosure requirements.

• Attestation requirements — The financial statement footnote disclosures would be subject to existing financial statement audit requirements. The Scope 1 and Scope 2 GHG emission disclosures would be subject to limited assurance during a phase-in period, followed by reasonable assurance.

• Phase-in period of the proposed rule — If the proposed rule’s requirements become effective in December 2022, the mandatory compliance date for their adoption for a registrant with a calendar year-end would be as follows:

  Registrant Type	All Disclosures (Including Scope 1 and Scope 2 GHG Emissions), Except Scope 3	Scope 3 GHG Emission Disclosures	Attestation on Scope 1 and Scope 2 GHG Emission Disclosures
  Large accelerated filer	2023	2024	Limited assurance — 2024Reasonable assurance — 2026
  Accelerated filer	2024	2025	Limited assurance — 2025Reasonable assurance — 2027
  Nonaccelerated filer	2024	2025	Not required

Smaller reporting companies would be exempt from Scope 3 GHG emission disclosures and would have an additional year of transition (i.e., all other disclosures would be required in 2025).

Given the breadth of the proposed rule, this Heads Up will be updated shortly to provide a more comprehensive analysis of the key requirements. Stay tuned for more information.

对中国上市公司意味着

Quote http://www.cet.net.cn/m/article.php?id=521

根据声明，SEC下属的公司金融部（Division of Corporation Finance）将基于SEC在2010年发布的《上市公司气候变化信息披露指引》（ Commission Guidance Regarding Disclosure Related to Climate Change），对近10年来美国上市公司开展相关信息披露的工作开展审核和评估，同时，SEC将在总结近年来资本市场应对和管理气候风险相关经验的基础上，广泛征求上市公司的建议，听取其在披露气候信息过程中遇到的问题，借鉴目前金融界自发形成的“气候相关财务信息披露工作组” (Task Force on Climate-related Financial Disclosures，以下简称“TCFD”）和“可持续会计标准委员会”（Sustainability Accounting Standards Board，以下简称“SASB”）等有关气候信息披露的倡议和原则，对2010年的指引进行修订。

从当前来看，无论是中国的金融机构还是上市公司都缺乏对气候变化、碳定价以及碳资产等相关概念的深刻理解，而在资本市场日益开放和链接进一步加强的当下，国际主要的银行、资产管理公司以及养老金等金融机构已经开始在其长期战略规划和投资组合设计中融入“碳”元素，且越来越多的机构将企业进行气候相关信息披露作为其投资决策的必须条件。例如，欧洲最大的资产管理机构之一Legal & General Investment Management（LGIM）在其内部构建了有关气候信息披露的管理、评价体系，并定期评估所投企业（其中包括中国建设银行等金融机构，以及中国国际航空、安徽海螺水泥等重点行业的龙头企业）。

建议如下：

• 提升监管机构在气候风险方面的专业水平（Develop Institutional Expertise on Climate Risk）。考虑到目前中国金融领域各有关部门对于气候变化、碳定价等方面的专业认知度尚有欠缺，建议尽快加强相关方面的能力建设，并开展有关方面研究的专题研究。
• 注重吸纳其他利益相关方的建议（Develop Channels for Stakeholder Input）。在中国监管层面构建强制气候信息披露的同时，要确保借鉴并及时吸纳各方建议，其中包括投资机构、重点行业协会及企业、气候变化方面专家等多方意见，也要重点加强国际交流合作。
• 形成部门间执行合力（Coordinate Regulatory Actions Across Agencies）。强制气候信息披露仅仅依靠单一金融监管的力量是远远不够的，需要在金融监管部门和生态环境部门之间构建协调机制，并充分利用生态环境部门已有的机制以及全国碳市场在数据收集和管理方面的优势。
• 借鉴现有的框架和标准中的优秀经验（Draw Best Practices from Existing Frameworks and Standards）。通过多样化的国际交流，充分借鉴TCFD、SASB等现有气候信息披露框架的优点，包括实践经验总结和工具开发等；此外，也可以总结和借鉴中国部分企业在环境、社会和公司治理 (ESG)报告和相关信息披露方面的尝试。

ESG 标准史：IFRS 与 GRI

2022年3月24日，国际财务报告准则基金会（IFRS 基金会）和全球报告倡议组织（GRI）达成一项关于ESG标准的合作协议。

The IFRS Foundation and Global Reporting Initiative (GRI) have announced today a collaboration agreement under which their respective standard-setting boards, the International Sustainability Standards Board (ISSB) and the Global Sustainability Standards Board (GSSB), will seek to coordinate their work programmes and standard-setting activities.

IFRS Foundation and GRI to align capital market and multi-stakeholder standards to create an interconnected approach for sustainability disclosures (link)

新闻提到：

By working together, the IFRS Foundation and GRI provide two ‘pillars’ of international sustainability reporting—a first pillar representing investor-focused capital market standards of IFRS Sustainability Disclosure Standards developed by the ISSB, and a second pillar of GRI sustainability reporting requirements set by the GSSB, compatible with the first, designed to meet multi-stakeholder needs.

IFRS 可持续发展披露标准的制订史：

Quote A timeline of what's happening with global ESG reporting standards

关键节点：

2020年9月 : 宣布合作

• Statement of Intent to Work Together Towards Comprehensive Corporate Reporting.

By CDP, Climate Disclosure Standards Board, Global Reporting Initiative, International Integrated Reporting Council, Sustainability Accounting Standards Board

• IFRS Foundation Consultation Paper on Sustainability Reporting

• IIRC 与 SASB 宣布合并意向

2020年末

GRI 发布 GRI 通用披露标准草稿：GRI Universal Standards Exposure draft

2021年3月：

GRI 宣布 新的 IFRS 工作组成立作为下一步

2021年4月：

欧盟计划发布企业可持续报告指南，新闻稿

Announcement that the EU is planning a Corporate Sustainability Reporting Directive to replace the Non-financial Reporting Directive. Key takeaways:

• All large and all listed companies, including listed small and medium-sized enterprises (SMEs), will be covered by the new regime, meaning that the number of companies that need to report sustainability information will rise to 49,000, up from 12,000 covered by the NFRD.
• The CSRD will be based on a new standard to be adopted by October 2022 that will take into account the EU’s forthcoming taxonomy on sustainable finance, its recently-leaked plans for guidance on transition activities, and will require third-party assurance. It will be designed to help give investors the information they need to more easily comply with the recently-introduced Sustainable Financial Disclosure Regulation (SFDR).

2021年7月：

VRF 回应 IFRS ：Value Reporting Foundation responds to IFRS Foundation constitution consultation

新闻稿：https://www.valuereportingfoundation.org/news/the-value-reporting-foundation-responds-to-ifrs-foundation-constitution-consultation/

PDF版本

2021年10月：

GRI 发布通用标准修改版

新闻链接

概述：

GRI releases an updated version of its Universal Standards, effective for reports published from 1 January 2023. The new Universal Standards present key updates regarding materiality:

• Updated definition stating that “Material topics are topics that represent an organization’s most significant impacts on the economy, environment, and people, including impacts on their human rights”
• GRI no longer suggests the use of a matrix to rank/prioritize material topics. Instead, “the organization should arrange its impacts from most to least significant and define a cut-off point or threshold to determine the impacts it will focus its reporting on.”
• GRI firmly positions its definition of material issues with regard to an organization’s impact on the external environment/stakeholders, and underscores that reporting on material issues (as defined through external impact) is relevant regardless of whether the issues also impact an organization financially (i.e. financial materiality). “It is…important for the organization to report on all the material topics that it has determined using the GRI Standards. These material topics cannot be deprioritized on the basis of not being considered financially material by the organization.”

In the launch email about the new Universal Standards, GRI stated that the new Standards are “now the first and only global reporting standards to fully reflect due diligence expectations for sustainability impacts, including those on human rights as set out in authoritative and intergovernmental instruments by the UN and OECD.”

2021年11月：

IFRS 通用强制披露可持续发展相关财务信息原型

General Requirements for Disclosure of Sustainability-related Financial Information Prototype

IFRS 通用强制披露气候相关财务信息原型 ， 补充说明

Climate-related Disclosures Prototype

2022年1月：

Interview: The ISSB and a new set of ESG reporting standards: how should companies prepare?

ISSB 的新 ESG 标准，公司应如何准备 （采访全文）：

In an interview posted on the “Trust me, I’m listed” website, Jonathan Labrey (Value Reporting Foundation), Richard Barker (Oxford’s Saïd Business School), and Robert Eccles (SASB Founding Chairman) provided insights on the work to be undertaken by the newly-established International Sustainability Standards Board.

The interview noted that exposure drafts of the first set of ISSB standards could be expected in late March or early April. However, this is a decision for the ISSB Board, which has yet to be fully appointed.

同时 GRI 重申：GRI clarifies its position in a 'two-pillar' corporate reporting landscape （PDF）:

GRI published The GRI Perspective: A business case for environment & society, in which it supports “the creation of a comprehensive corporate reporting system based on a two-pillar structure”. The two pillars are defined as:

• Pillar 1 – addressing financial considerations through a strengthened financial report which includes sustainability disclosures, in the context of enterprise value
• Pillar 2 – concentrating on sustainability reporting focusing on all external impacts a company is having on society and the environment and hence their contributions towards the goals of sustainable development

The document points out that there is actually no ‘alphabet soup’ when it comes to actual standards setters. On a global scale there are only two reporting standards: GRI and SASB. These two standards roughly align with the two pillars. SASB is part of the Value Reporting Foundation, which is consolidating into the IFRS Foundation to support the development of sustainability-related financial disclosure standards (Pillar 1). GRI has always been focused on an organization’s external impacts, thus supporting corporate reporting against Pillar 2.

The document notes further that the European Sustainability Reporting Standards (ESRS) under development extend across both pillars, whereas the standards contemplated by the newly-established International Sustainability Standards Board are focused on Pillar 1 only.

2022年3月

IFRS Foundation releases exposure drafts of General Requirements (S1) and Climate-related Disclosures (S2) standards

IFRS 基金会发布通用强制披露标准（S1）和气候相关披露标准（S2）

Exposure Draft S1 General Requirements for Disclosure of Sustainability-related Financial Information （本站备份）

Exposure Draft S2 Climate-related Disclosures （本站备份）

View announcement and download supporting information at IFRS Foundation （新闻稿）

The IFRS Foundation has released exposure drafts of its first two standards:

• S1 General Requirements for Disclosure of Sustainability-related Financial Information
• S2 Climate-related Disclosures

According to the IFRS Foundation: “the proposals set out requirements for the disclosure of material information about a company’s significant sustainability-related risks and opportunities that is necessary for investors to assess a company’s enterprise value.”

The International Sustainability Standards Board (ISSB) of the IFRS Foundation is accepting feedback on the exposure drafts through 29 July 2022. It will review feedback on the proposals in the second half of 2022 and aims to issue the new Standards by the end of the year, subject to the feedback.