ACGA analysis: China’s new ESG reporting standard leaves room for local elements
2024-06-24
On 24 June, ACGA Research Manager Lake Wang published a market update on China's proposals on sustainability standards published by the Ministry of Finance (MOF), the high-level sustainability reporting framework "Corporate Sustainability Disclosure Standard – Basic Standard" (Basic Standard)”. This framework follows the structure of IFRS S1 but differs in terms of materiality. It serves as the initial phase of a national sustainability reporting system that the MOF aims to develop by 2030. Other elements of this system will include a more detailed "Specific Standard" and an "Application Guide". Read more here.