Yang Xiaofeng: To Evaluate Corporate ESG, It Is Recommended To Formulate Standards That Are In Line With National Conditions

 On December 6, 2024, the Standard Working Committee of the China Biodiversity Conservation and Green Development Foundation and the Beijing Knowledge & Action Legal Practice Research Center jointly held a "Discussion on Optimizing the Business Environment and ESG Information Disclosure". The meeting was live-streamed on platforms such as Green Media Baijiahao, with a total of 600 people participating online.

 


The following is the speech of Yang Xiaofeng, associate professor of law at China University of Petroleum and director of Beijing Knowledge & Action Legal Practice Research Center.

 

Professor Yang focused on the fourth part, namely the effectiveness analysis of ESG information disclosure.

 

First, ESG disclosure information is the first and most important.

Second, what matters does ESG information disclosure involve? It is divided into mandatory and voluntary.

 

The key to the effectiveness of ESG is performance data, such as: 1. Quantification of environmental data, including corporate water and electricity, greenhouse gas emissions, natural gas use, energy conservation and consumption reduction, pollution emissions, and clean data on renewable resources. 2. Corporate responsibility, including the number of employees, employee training and education, the number of upstream and downstream supply chains related to the company, the degree of fulfillment of community responsibilities, and the number of times the company participates in public welfare activities. 3. Corporate governance, including internal risk prevention and control, correlation with stakeholders, anti-corruption and integrity promotion, etc. These three aspects also involve three aspects of performance indicators, indicator calculation methods, calculation results, and horizontal and vertical comparisons. It is recommended that relevant content be included in future ESG reports.

 

When evaluating corporate ESG, companies all say that they have done a good job in ESG. This depends on what standards are used to make the evaluation? What standards are used for China's ESG disclosure? Is it a national standardization outline? Or is it based on international organizations such as GRI, ISO, etc.? It is recommended to create several standard versions based on China's actual situation, propose them to regulatory authorities and the government, and formulate and implement them.

 

Original Chinese Article: https://mp.weixin.qq.com/s/ekKCxDmWNGASn98bHUEKgw

Translator: Maggie

Editor: Maggie

Checked by: Richard     

Contact: v10@cbcgdf.org; +8617319454776

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