New ESG Reporting Guidelines for China's Stock Exchanges

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Overview and highlights of the new Sustainability Reporting Guidelines for China’s stock exchanges. By丨 Kent WOO, Siyuan YU On April 12, 2024, China’s three major stock markets, the Shenzhen Stock Exchange (SZSE), the Shanghai Stock Exchange (SSE), and the Beijing Stock Exchange (BSE), issued their respective Guidelines on Self-Regulation of Listed Companies - Sustainability Report (Trial) (collectively, “Sustainability Report Guidelines” ).   The Sustainability Report Guidelines, effective on May 1, 2024, are a milestone as they mandate the first-ever disclosure requirements for listed companies about information related to environmental, social, and governance ( “ESG” ) issues, two years after the China Securities Regulatory Commission ( “CSRC” ) stated in 2022 its intention to establish corporate sustainability disclosure requirements to support the sustainable development of listed companies.  This article aims to introduce the scope of disclosure in the Sust ………………………………