Publications

China Green Finance Task Force Report: Mandatory Disclosure

This paper makes the case that compulsory disclosure of environmental information by listed companies and bond issuers is an effective measure to increase the sense of corporate social responsibility, improve corporate environmental performance, incentivize investors to refrain from polluting investments and strengthening green investments. It recommends:

• CSRC and stock exchanges formulate rules on compulsory environmental information disclosure.
• Regulatory authorities or exchanges should require the quantitative disclosure of key information by listed companies and bond issuers according to disclosure standards.
• Encourage the development of third-party verification and rating of environmental credit rating and environmental information disclosure by listed companies and bond issuers.
• Securities regulatory authorities, self-regulatory organizations and environmental protection agencies should continue to enhance information sharing and supervision of the quality of environmental information disclosure.

[NB: This paper is one chapter of the broader report “Establishing China’s Green Financial System” developed by the China Green Finance Task Force, which was convened by the Research Bureau of the People’s Bank of China together with the UNEP Inquiry]