Based on the ratings of all A-shares companies, we focus our analysis on the CSI 800 index1 constituents from 2018 to 2021, and the main findings are:
ESG information disclosure： The number of A-share listed companies issuing ESG reports has steadily increased, but the proportion of companies issuing reports has not increased significantly. Both the disclosure rate and disclosure quality of ESG information have increased year by year. However, the qualitative disclosures still surpassed the quantitative disclosures, and the awareness of listed companies in voluntary disclosure still needs to be enhanced.
Climate-related information disclosure： In the context of global climate change and China's "Dual Carbon" goals, the disclosure of greenhouse gas-related (GHG) information disclosure of A-share listed companies have improved in 2020 compared with previous years. However, the overall disclosure awareness and disclosure quality need to be further improved.
Overall ESG performance： The overall ESG performance of A-share listed companies has been steadily improving, with environmental performance improving the fastest. However, the overall ESG performance is still in the early stage of development.
ESG risk： ESG risk pressure on A-share listed companies remains high, and the proportion of ESG high-risk incidents shows an increasing trend year by year.
ESG performance and share price： SG performance of A-share listed companies has a positive correlation with stock prices, and the A-share market has a relatively significant adverse reaction to ESG controversies of listed companies.
