In recent years, with the widespread dissemination of ESG (Environmental, Social, and Governance) concepts, the government, investors, and various sectors of society have attached increasing importance to them. Although the Chinese government has not yet mandated companies to release ESG reports, with the increasingly prominent environmental, social, and governance issues, many companies, especially listed ones, have taken the initiative to assume the responsibility of disclosing relevant information. This measure not only provides assistance for the internationalization process of Chinese enterprises, but also promotes their better integration into the new development pattern dominated by the domestic circulation and mutually promoted by the domestic and international dual circulation. For companies that have not yet ventured into ESG report disclosure, the initial attempt may involve a series of complex steps. The following outlines six basic steps for improving ESG report disclosure, but can be further refined based on actual situations to ensure report quality and promote the achievement of sustainable development goals.
Step 1: Form a professional team.When forming a team, it is necessary to ensure that members have profound professional knowledge and rich experience in ESG and related fields. At the same time, maintain team diversity by incorporating representatives from different departments and stakeholders to comprehensively consider the needs and interests of all parties involved.
Step 2: Clarify the core issues of the report.On the basis of determining the core issues, it is also necessary to clarify the scope and objectives of the report, including setting key performance indicators, identifying influencing factors, and key stakeholders. This helps ensure the comprehensiveness of the report content and its alignment with the company's strategy.
Step 3: Information collection and development of report outline.Widely collect internal and external information of the enterprise, including opinions and suggestions from stakeholders. When formulating the report outline, organize and structure the report content reasonably based on the core issues and information collection results.
Step 4: Report writing and review.When writing a report, pay attention to the accuracy and transparency of the content, and follow relevant disclosure requirements and guidelines. During the review phase, invite internal and external experts to review the report to ensure its accuracy and credibility.
Step 5: Report release and dissemination.Choose appropriate channels and platforms to publish reports and ensure widespread dissemination of information. At the same time, provide summaries and visual information to improve the readability and comprehensibility of the report.
Step 6: Feedback collection and continuous improvement.Actively respond to feedback from stakeholders and continuously optimize the quality and transparency of reports. The update cycle of ESG reports is usually annual or biennial, and the updates need to be compared with the previous version to showcase the company's progress in environmental, social, and corporate governance aspects.
By improving the above steps, companies can more comprehensively disclose ESG information and promote the achievement of sustainable development goals through continuous improvement. For companies attempting ESG report disclosure for the first time, maintaining open communication with key stakeholders is crucial to meet the needs of all parties and achieve win-win outcomes.