Is China Stepping Up? Celebrate Chinese New Year by Diving Into the Country’s Sustainability Reporting Trends

Feb 13, 2018 8:25 AM ET
Press Release

GENEVA, February 13, 2018 /3BL Media/ -- Today, the World Business Council for Sustainable Development (WBCSD) and the Climate Disclosure Standards Board (CDSB) release the second case study in a series designed to provide insights into the sustainability reporting trends across various countries covered by the Reporting Exchange.

Today’s case study, launched in time for Chinese New Year, sheds light on the corporate reporting requirements and resources across China – a particularly important dataset as China’s global prominence in sustainability continues to grow.

With new legislation on mandatory environmental disclosure being developed in China, information from the Reporting Exchange provides an important baseline to understand how the reporting landscape will evolve in the next few years, and how Chinese businesses will embrace the latest developments in mainstream sustainability reporting.

The launch of this case study also coincides with the translation of the Reporting Exchange into Chinese – making the global resource for corporate sustainability reporting even more accessible to international businesses and users. To date, the platform includes over 1780 reporting provisions from 60 countries and continues to grow.

China’s global economic influence and its interest in integrating sustainability in its economy have made it a key region for developing better and more sustainable business practices.

In this case study, Ms. Ji Qing, Secretariat Director and Ms. Jingzhu Zhang, Manager at China Business Council for Sustainable Development (CBCSD), share their views on policy, sustainability, reporting and business practices to help develop a richer understanding of the Chinese corporate reporting environment.

In the study, Ms. Ji Qing and Ms. Jingzhu Zhang share that the country has also seen significant improvements in the quality of reporting, with businesses developing a greater understanding of sustainability-related and material risks and opportunities. Reporting practices in the country are developing beyond static communications pieces, using reporting as a tool to strengthen other business aspects, such as risk and corporate management.

The research also shows that a growing number of Chinese companies are required to disclose sustainability information, while many are already seeing the added value through disclosure.

In particular, large companies “are placing greater importance in elevating transparency and enhancing communication with stakeholders through non-financial disclosure.”

This case study is part of a wider effort across the globe to examine significant developments in ESG reporting to bring more clarity to the sustainability reporting landscape through the Reporting Exchange.

For more information, please contact:
Felicity Glennie-Holmes
WBCSD Communications
glennie-holmes@wbcsd.org
+41 22 839 3110

About the Reporting Exchange

In 2017, the World Business Council for Sustainable Development (WBCSD), in partnership with the Climate Disclosure Standards Board (CDSB) and Ecodesk, launched the Reporting Exchange. This free, online platform has been designed to help business navigate the often-confusing world of corporate reporting.

Jingzhu Zhang, Manager, China Business Council for Sustainable Development (CBCSD) on the Reporting Exchange: “The Reporting Exchange as a knowledge-sharing platform, gathers expertise and resources from many countries to build a global picture. Getting involved in the research as a Global Network partner provided us a great opportunity to understand how what’s happening in one country relates to international developments on a global scale.” 

About the World Business Council for Sustainable Development (WBCSD)

WBCSD is a global, CEO-led organization of over 200 leading businesses working together to accelerate the transition to a sustainable world. We help make our member companies more successful and sustainable by focusing on the maximum positive impact for shareholders, the environment and societies.

Our member companies come from all business sectors and all major economies, representing a combined revenue of more than $8.5 trillion and 19 million employees. Our global network of almost 70 national business councils gives our members unparalleled reach across the globe. WBCSD is uniquely positioned to work with member companies along and across value chains to deliver impactful business solutions to the most challenging sustainability issues.

Together, we are the leading voice of business for sustainability: united by our vision of a world where more than 9 billion people are all living well and within the boundaries of our planet, by 2050. http://www.wbcsd.org

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About the Climate Disclosure Standards Board (CDSB)

The Climate Disclosure Standards Board (CDSB) is an international consortium of business and environmental NGOs committed to advancing and aligning the global mainstream corporate reporting model to equate natural capital with financial capital. Recognizing that information about natural capital and financial capital is equally essential for an understanding of corporate performance, our work builds trust and transparency needed to foster resilient capital markets.