环境规则视角下ESG信息披露模式的制度探析

An Institutional Exploration of ESG Information Disclosure Model from the Perspective of Environmental Rules

在气候变化、疫病流行等世界性危机的背景下,环境、社会和公司治理(ESG)成为绿色金融创新的有力工具。在ESG三个维度中,环境要素获得的政策关注度和社会关注度日益提高,从环境规则的视角出发考察当前ESG信息披露的自律监管、强制监管和公私合作三种模式及其典型代表。中国的ESG信息披露主要采用强制监管与公司自律监管相结合,上市公司自律监管规则整体趋同但仍有差异,环境规则方面的制度建设较为系统,但在气候变化、生物多样性以及碳减排方面的信息披露规则仍较缺乏,环境规则碎片化、披露信息漂绿化以及信息披露平台缺乏权威性等现实问题,需要通过优化制度模式、整合环境规则、监管披露行为以及破解信息孤岛等措施来加以解决。

In the context of worldwide crises such as climate change and epidemics,environmental,social and governance(ESG)has become a powerful tool for green financial innovation.Among the three ESG dimensions,environmental elements are gaining increasing policy attention and social concern.The current three models of ESG disclosure,namely self-regulation,mandatory regulation and public-private partnership and the typical representatives are examined from the perspective of environmental rules.China's ESG information disclosure mainly adopts a combination of mandatory regulation and self-regulation.Within the environmental rules,there are more rules on pollution prevention and control,resource conservation and ecological protection,but the rules on information disclosure on climate change and biodiversity are still weak.The real problems such as fragmentation of environmental rules,green washing of disclosed information and lack of authority of disclosed information platforms need to be solved by measures such as rule integration,behavioral regulation and breaking information silos.