Asia Pacific Capital Markets Hub 2024 - 2025

Table 6: ESG Information Disclosure Regulations for Listed Companies in Major Asia Countries/Regions

Regulatory Body

Example Policies

Overall Summary

• In March 2024, the People’s Bank of China and six other departments issued the Guiding Opinions on Further Strengthening Financial Support for Green and Low-Carbon Development • In December 2024, the Ministry of Finance and eight other ministries and commissions jointly issued the Corporate Sustainability Disclosure Standards – Basic Standards (Trial) • In March 2025, the CSRC released the revised Administrative Measures for Information Disclosure by Listed Companies • In April 2024, under CSRC guidance, the Shanghai, Shenzhen, and Beijing stock exchanges jointly issued the Guidelines for Sustainability Reports of Listed Companies • In January 2025, the Shanghai, Shenzhen and Beijing exchanges issued the Guidelines for Preparing Sustainability Reports of Listed Companies

• For the first time, ESG was explicitly included in credit ratings • A unified national sustainability disclosure standard was established • The CSRC, for the first time at the departmental regulation level, standardized sustainability reports, requiring listed companies to publish sustainability reports in accordance with stock exchange regulations • Provided important and professional references for listed companies to prepare sustainability reports • Further clarified work processes and disclosure highlights, standardizing the scope, format, and content of sustainability reports

Financial Regulatory Departments/ Institutions

Securities Regulatory Departments/ Institutions

Source: Compiled by Cushman & Wakefield based on publicly available information

China has issued official guidelines for sustainability reports by listed companies to enhance the standardization and comparability of such reports. The Guidelines for Sustainability Reports of Listed Companies (the “Guidelines”) require companies included in the SSE 180 Index, STAR Market 50 Index, SZSE 100 Index, and ChiNext Index, as well as companies listed both domestically and overseas, to publish their 2025 sustainability reports by April 30, 2026. Other listed companies are also encouraged to disclose sustainability information. In terms of disclosure requirements, the Guidelines cover 21 topics across the environmental, social, and corporate governance dimensions, including China-specific topics such as rural revitalization and technology ethics. Although third-party assurance is not mandatory, the Guidelines encourage reporting entities to engage third-party institutions to verify or assure data such as corporate greenhouse gas emissions.

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