China ESG - Weekly News: PBoC and EU Commission led the completion of the "Common Ground Taxonomy"



CSI became the first index institution in China certified by IOSCO standards

China Securities Index recently announced that its ESG index has obtained an independent assurance report on compliance with the International Organization of Securities Regulators (IOSCO) Financial Benchmark Principles. This has become the only index institution in China that has independently verified ESG indexes through IOSCO standards.

ESG mainly conducts comprehensive evaluation of enterprises from the dimensions of environment, social responsibility, and corporate governance. It is a reflection of the concept of sustainable development at the micro level of the enterprise, and it is also an important supporting support for achieving the goal of "carbon neutrality".


Source: CSI


PBoC and European Commission jointly led the completion of the "Common Ground Taxonomy"


On November 4, 2021, the International Platform for Sustainable Finance (IPSF), co-sponsored by China and Europe and other economies, held the IPSF annual meeting during the United Nations Climate Change Conference (COP26), and released the "Sustainable Finance Common Ground Taxonomy".

The "Common Ground Taxonomy" includes a list of economic activities that are recognized by the China-EU Green and Sustainable Finance Catalogue and have significant contributions to climate change mitigation. The current version covers six major categories including energy, manufacturing, construction, transportation, solid waste and forestry, which are the main economic activities in the field.

Source: PBoC



IFRS Foundation announces launch of International Sustainability Standards Board at COP26

Marking a major steptowards the establishment of unified and globally consistent sustainability-related corporate disclosure, the International Sustainability Standards Board (ISSB) was officially launched by the IFRS Foundation today at the COP26 climate conference.

Along with the launch, other key announcements included the planned integration of leading sustainability reporting networks CDSB and the Value Reporting Foundation into IFRS, and the publication of two prototype disclosure-focused documents focused on climate-related disclosure, and setting out general sustainability disclosure guidelines.

Source: IFRS



Science Based Targets Initiative Launches the First Net-Zero Corporate Standard


The Science Based Targets initiative (SBTi), the global body enabling businesses to set emissions reduction targets in line with science, recently launched the world-first Net-Zero Corporate Standard.


The SBTi’s Net-Zero Standard is the world’s first science-based certification of companies’ net-zero targets in line with the Paris Agreement’s goal of keeping planetary warming to 1.5°C. The first seven firms to have their net-zero targets certified as part of the SBTi’s pilot scheme were unveiled this week. They are: AstraZeneca (UK), CVS Health (US), Dentsu International (UK), Holcim (Switzerland), JLL (US), Ørsted (Denmark), Wipro (India).



Source: Environmental + Energy Leader


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