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Construction and Research of China's ESG Information Disclosure System

Received: 19 September 2022     Accepted: 29 November 2022     Published: 8 December 2022
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Abstract

With the rise of ESG (Environment, Social and Governance) concept in the world, ESG information disclosure has also received extensive attention. ESG information disclosure is an area to be studied in the future legal construction of capital market, especially in the process of improving the information disclosure system. It is necessary to establish a systematic ESG information disclosure system for listed companies in China. Various countries have established ESG information disclosure systems to guide enterprises to disclose, and China is also constantly exploring and improving its own systems. Currently, China has not formally released a comprehensive ESG information disclosure framework to guide enterprises to disclose non-financial information, which results in the uneven quality of ESG information disclosure at this stage, in addition to the Environmental, Social and Governance Reporting Guidelines issued by the Hong Kong Stock Exchange. There are still a few issues with the practice of disclosing ESG information. This paper reviews the development of ESG information disclosure standards at home and abroad, discusses the problems existing in ESG information disclosure in China, and puts forward corresponding suggestions, with a view to providing theoretical reference for the construction of ESG information disclosure system, and hoping to promote listed companies to actively fulfill their environmental, social and governance responsibilities, Contribute to the process of improving the sustainable development ability of listed companies through institutional advantages and promoting the establishment of a healthy and sustainable financial system with controllable risks.

Published in International Journal of Economics, Finance and Management Sciences (Volume 10, Issue 6)
DOI 10.11648/j.ijefm.20221006.19
Page(s) 377-382
Creative Commons

This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.

Copyright

Copyright © The Author(s), 2022. Published by Science Publishing Group

Keywords

ESG, Information Disclosure, System Construction

References
[1] Changhong Zhao, Yu Guo, Jiahai Yuan, et al. ESG and Corporate Financial Performance: Empirical Evidence from China's Listed Power Generation Companies [J]. Sustainability, 2018, 10 (8): 2607.
[2] Mehdi Taghian, Clare D'Souza, Michael Polonsky. A stakeholder approach to corporate social responsibility, reputation and business performance [J]. Social Responsibility Journal, 2015, 11 (2): 340-363.
[3] Drucker D. J.. From SRI to ESG [J]. Financial Planning, 2009 (10): 72-77.
[4] Jain A., P. K. Jain, Z. Rezaee. Value-Relevance of Corp-orate Social Responsibility: Evidence from Short Selling [J]. Journal of Management Accounting Research, 2016 (2): 29-52.
[5] Oikonomou I., C. Brooks, S. Pavelin. The Effects of Corporate Social Performa-nce on the Cost of Corpor-ate Debt and Credit Ratings [J]. Financial Review, 2014 (1): 49-75.
[6] Kew J., Krosinsky C.. Dynamics Emerge on ESG and Sustainable Investment in China [z]. Modem China, 2020.
[7] Xie J., Nozawa W., Yagi M., et al.. Do Environmental, Social, and Governance Activities Improve Corporate Financial Performance? [J]. Business Strategy and The Environment, 2019 (2): 286-300.
[8] Reed F.. Stockholders and Stakeholders: A New Perspective on Corporate Governance [J]. California Management Review, 1983 (3): 88-106.
[9] Jessop A, Wilson N, Bardecki M, Searcy C. Corporate Environmental Disclosure in India: An Analysis of Multinational and Domestic Agrochemical Corporations [J]. Sustainability, 2019, 11 (18): 1-33.
[10] Dinca M S, Madaleno M, Baba M C. Environmental Information Transparency Evidence from Romanian Companies [J]. Sustainability, 2019, 11 (18): 50-40.
[11] Leigh Holland, Yee Boon Foo. Difference in environmental reporting practices in the UK and the US: the legal and regulatory context [J]. The British Accounting Review, 2003, 35 (1): 1-18.
[12] Suresh Cuganesan, Leanne Ward. Industry specific social and environmental reporting: The Australian Food and Beverage Industry [J]. Accounting Forum, 2008, 12 (02): 33-48.
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  • APA Style

    Sun Wen. (2022). Construction and Research of China's ESG Information Disclosure System. International Journal of Economics, Finance and Management Sciences, 10(6), 377-382. https://doi.org/10.11648/j.ijefm.20221006.19

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    ACS Style

    Sun Wen. Construction and Research of China's ESG Information Disclosure System. Int. J. Econ. Finance Manag. Sci. 2022, 10(6), 377-382. doi: 10.11648/j.ijefm.20221006.19

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    AMA Style

    Sun Wen. Construction and Research of China's ESG Information Disclosure System. Int J Econ Finance Manag Sci. 2022;10(6):377-382. doi: 10.11648/j.ijefm.20221006.19

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  • @article{10.11648/j.ijefm.20221006.19,
      author = {Sun Wen},
      title = {Construction and Research of China's ESG Information Disclosure System},
      journal = {International Journal of Economics, Finance and Management Sciences},
      volume = {10},
      number = {6},
      pages = {377-382},
      doi = {10.11648/j.ijefm.20221006.19},
      url = {https://doi.org/10.11648/j.ijefm.20221006.19},
      eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ijefm.20221006.19},
      abstract = {With the rise of ESG (Environment, Social and Governance) concept in the world, ESG information disclosure has also received extensive attention. ESG information disclosure is an area to be studied in the future legal construction of capital market, especially in the process of improving the information disclosure system. It is necessary to establish a systematic ESG information disclosure system for listed companies in China. Various countries have established ESG information disclosure systems to guide enterprises to disclose, and China is also constantly exploring and improving its own systems. Currently, China has not formally released a comprehensive ESG information disclosure framework to guide enterprises to disclose non-financial information, which results in the uneven quality of ESG information disclosure at this stage, in addition to the Environmental, Social and Governance Reporting Guidelines issued by the Hong Kong Stock Exchange. There are still a few issues with the practice of disclosing ESG information. This paper reviews the development of ESG information disclosure standards at home and abroad, discusses the problems existing in ESG information disclosure in China, and puts forward corresponding suggestions, with a view to providing theoretical reference for the construction of ESG information disclosure system, and hoping to promote listed companies to actively fulfill their environmental, social and governance responsibilities, Contribute to the process of improving the sustainable development ability of listed companies through institutional advantages and promoting the establishment of a healthy and sustainable financial system with controllable risks.},
     year = {2022}
    }
    

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  • TY  - JOUR
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    JF  - International Journal of Economics, Finance and Management Sciences
    JO  - International Journal of Economics, Finance and Management Sciences
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    AB  - With the rise of ESG (Environment, Social and Governance) concept in the world, ESG information disclosure has also received extensive attention. ESG information disclosure is an area to be studied in the future legal construction of capital market, especially in the process of improving the information disclosure system. It is necessary to establish a systematic ESG information disclosure system for listed companies in China. Various countries have established ESG information disclosure systems to guide enterprises to disclose, and China is also constantly exploring and improving its own systems. Currently, China has not formally released a comprehensive ESG information disclosure framework to guide enterprises to disclose non-financial information, which results in the uneven quality of ESG information disclosure at this stage, in addition to the Environmental, Social and Governance Reporting Guidelines issued by the Hong Kong Stock Exchange. There are still a few issues with the practice of disclosing ESG information. This paper reviews the development of ESG information disclosure standards at home and abroad, discusses the problems existing in ESG information disclosure in China, and puts forward corresponding suggestions, with a view to providing theoretical reference for the construction of ESG information disclosure system, and hoping to promote listed companies to actively fulfill their environmental, social and governance responsibilities, Contribute to the process of improving the sustainable development ability of listed companies through institutional advantages and promoting the establishment of a healthy and sustainable financial system with controllable risks.
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Author Information
  • International College, Christian University of the Philippines, Manila, Philippines

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