{"id":889,"date":"2024-09-14T00:57:14","date_gmt":"2024-09-13T16:57:14","guid":{"rendered":"https:\/\/www.esgilinkhk.com\/?p=889"},"modified":"2024-09-14T08:37:03","modified_gmt":"2024-09-14T00:37:03","slug":"%e6%ac%a7%e7%9b%9fesg%e7%9b%91%e7%ae%a1%e6%94%bf%e7%ad%96%e6%a2%b3%e7%90%86","status":"publish","type":"post","link":"https:\/\/www.esgilinkhk.com\/en_us\/2024\/09\/14\/%e6%ac%a7%e7%9b%9fesg%e7%9b%91%e7%ae%a1%e6%94%bf%e7%ad%96%e6%a2%b3%e7%90%86\/","title":{"rendered":"EU ESG Regulatory Policy Review"},"content":{"rendered":"<p id=\"\">The ESG (Environmental, Social and Corporate Governance) regulatory policies of the European Union have shown a trend of gradually strengthening and refining in recent years, aiming to promote the performance of enterprises in sustainable development. Here is a summary of the EU's ESG regulatory policies:<\/p>\n<h3>1\u3001 Main regulations and directives<\/h3>\n<ol>\n<li><strong>Corporate Sustainability Reporting Directive (CSRD)<\/strong>\n<ul>\n<li><strong>effective time<\/strong>It will officially come into effect on December 18, 2022 and be implemented in all EU member states on June 18, 2024.<\/li>\n<li><strong>scope of application<\/strong>Covering companies and large enterprises listed in the European Union (excluding small and micro enterprises), it is expected that more than 50000 enterprises will have to fulfill their reporting obligations, which is four times more than the previous Non Financial Reporting Directive (NFRD).<\/li>\n<li><strong>Core Requirements<\/strong>Require companies to disclose every detail of their environmental and social performance in detail, and enhance the transparency and credibility of reports through standardized and systematic reporting frameworks. Enterprises are required to comply with the European Sustainability Reporting Standard (ESRS) and conduct third-party audits of the sustainability information and data contained in the report.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Corporate Sustainability Due Diligence Directive (CS3D or CSDDD)<\/strong>\n<ul>\n<li><strong>Approve time<\/strong>Approved by the European Council on March 15, 2024, it is expected to be implemented as early as the second half of 2026.<\/li>\n<li><strong>scope of application<\/strong>This directive focuses on requiring companies to conduct due diligence, identify and take measures from a supply chain perspective to prevent, mitigate, or terminate adverse impacts on the environment and human rights. The scope of influence will be expanded to third country enterprises that meet regulatory requirements in the European Union.<\/li>\n<li><strong>implementation phase<\/strong>Implement in stages, including EU companies with a certain number of employees and revenue standards, as well as non EU companies operating within the EU.<\/li>\n<\/ul>\n<\/li>\n<\/ol>\n<h3>2\u3001 Supporting standards and measures<\/h3>\n<ul>\n<li><strong>European Sustainability Reporting Standards (ESRS)<\/strong>\n<ul>\n<li><strong>determine the time<\/strong>The final draft will be officially confirmed on July 31, 2023.<\/li>\n<li><strong>content<\/strong>Composed of 12 standards, including 2 general standards, 5 environmental standards, 4 social standards, and 1 governance standard, to meet the disclosure requirements of CSRD.<\/li>\n<li><strong>require<\/strong>Enterprises must use \"dual importance\" (financial importance and impact importance) as the basis for sustainable development information disclosure, and conduct third-party verification and authentication of reports.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h3>3\u3001 Key elements and impacts<\/h3>\n<ul>\n<li><strong>Principle of Double Importance<\/strong>First proposed by the European Union in CSRD, it includes two core dimensions: impact importance and financial importance. Enterprises are required to consider not only their financial impact but also their potential impact on the environment and society when assessing ESG factors.<\/li>\n<li><strong>Supply chain control<\/strong>Both CSRD and CS3D have put forward requirements for enterprises in the supply chain, promoting them to strengthen ESG management from a supply chain perspective and ensure the sustainability of the entire supply chain.<\/li>\n<li><strong>Punishment measures<\/strong>CSRD requires EU member states to establish investigative and compliance entities to implement \"effective, proportionate, and dissuasive\" penalties. The specific punishment measures shall be determined by each member state in accordance with its own laws.<\/li>\n<\/ul>\n<h3>4\u3001 Suggestions for Chinese enterprises to respond<\/h3>\n<p id=\"\">Faced with the increasingly strict ESG regulatory policies of the European Union, Chinese companies need to actively adjust their strategies to adapt to new regulatory requirements. Specific suggestions include:<\/p>\n<ol>\n<li><strong>Strengthen data governance and analysis capabilities<\/strong>Improve the ability to collect, organize, and analyze ESG data to ensure the accuracy and completeness of reports.<\/li>\n<li><strong>Enhance compliance and risk management capabilities<\/strong>Establish a sound compliance management system and strengthen the identification, assessment, and management of ESG risks.<\/li>\n<li><strong>Strengthen internal control and stakeholder communication<\/strong>Optimize internal control processes, strengthen communication and collaboration with stakeholders such as investors, consumers, and suppliers.<\/li>\n<li><strong>Promote strategic and cultural transformation<\/strong>Incorporate sustainable development into corporate strategic planning and promote the development of corporate culture towards a greener and more sustainable direction.<\/li>\n<\/ol>\n<p id=\"\">The EU's ESG regulatory policies are constantly being strengthened and improved, and Chinese companies need to closely monitor policy developments and actively respond to them to ensure compliant operations and sustainable development in the EU market.<\/p>","protected":false},"excerpt":{"rendered":"<p>\u6b27\u76df\u7684ESG\uff08\u73af\u5883\u3001\u793e\u4f1a\u548c\u516c\u53f8\u6cbb\u7406\uff09\u76d1\u7ba1 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center 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