Lin Weijie, President of Miaoying Technology: The Chinese market needs a more localized ESG

21st Century Economic Herald reporter Cao Enhui Shanghai report

At present, ESG (that is, environment, social, and corporate governance), as indicators to show the long -term value growth of enterprises and take into account economic and social benefits, has become an important consideration for more and more investors.

As ESG's investment continues to grow, the demand for ESG information disclosure is increasing, and the ESG information disclosure system that has been applied to the actual development of my country's development has become a market consensus.

In an exclusive interview with the 21st Century Business Herald, Lin Weijie, the new president of Miao Ying Technology, said, "We should provide a database that is more suitable for the Chinese market and build a more localized ESG tool."

In fact, there are still some uncomfortable ESG disclosure criteria in the international market. "Introducing the advantages of our Chinese market in the localization direction to overseas market investors can allow them to better understand the Chinese market and cultivate information to increase investment in China." Lin Weijie believes that when ESG is imported to the Chinese market, We also need to bring the ESG evaluation system suitable for Chinese companies to overseas, instead of blindly following the rules of overseas information disclosure.

Overseas ESG rules cannot be copied blindly

It is undeniable that ESG reflects the sustainable development values ​​that take into account the economic, environmental, social, and governance benefits, which is increasingly becoming the consensus of the international community. With the proposal of my country's "dual carbon" goals, ESG, which is imported, has ushered in a stage of rapid development in China.

"At present, the existing ESG products in the world are established based on the values ​​and methodology of overseas markets and Western countries, so you will find that if you use it directly to the Chinese market, you will encounter some contradictions." China's financial markets, regulatory systems, and laws are different from all aspects of foreign countries. In the early days, they needed to learn from the more mature ESG system overseas, but they could not let overseas investors truly understand Chinese companies.

Data show that my country's ESG development wave is emerging. As of the end of April this year, more than 1,400 A -share listed companies have independently released ESG reports, sustainable development reports or social responsibility reports while disclosing the 2021 annual report. The disclosure rate exceeded 30%for the first time. However, at present, the disclosure of ESG reports in domestic listed companies is mainly voluntary and has not yet established a systematic ESG rule system. This also makes what ESG system needs a Chinese company to become a hot topic now.

"Domestic enterprises will be unified slowly in disclosure standards. Just like accounting standards, many domestic companies will also disclose according to the international accounting law. The difficulty lies in the evaluation standards, and various countries in the world can form their own evaluation standards." Tell reporters of the 21st Century Business Herald that the common problem faced by most Chinese companies that are deeply cultivated by ESG is how to do a good job in the balance of international standards and domestic standards.

In Lin Weijie's view, each evaluation indicator in the ESG system is improving every year, which is not absolute. "In a sense, we need to help Chinese companies build a set of ESG standards that are suitable for our China and push it to the world."

Data is the core of an enterprise to build an ESG system

The establishment of ESG information disclosure standards is a systematic project that needs to continue to consolidate its foundation, such as improving relevant data statistics, cultivating local rating institutions as soon as possible, and developing more ESG evaluation analysis tools.

Lin Weijie believes that in order to achieve a high -quality ESG letter, a company needs to be based on powerful data.

"The direct effect of ESG is to bring a more transparent analysis tool to the market. Among them, the most important thing is the data that allows investment institutions to analyze which industries and which companies have outstanding performance in all aspects of sustainable development. , Make the entire market more transparent. "Lin Weijie pointed out in an interview with the 21st Century Business Herald that the significance of market transparency is that it can beware of" drifting green "behavior in individual enterprises.

"Due to the rapid development of ESG in China in recent years, the concept of ESG has been covered in various financial products, but whether the green bonds announced by some companies are really 'green'. Distinguish. "Lin Weijie said.

It is worth noting that the ESG information disclosure is also for different subjects such as regulators, investors, and stakeholders, and the demands of each subject are also different. Therefore, the quality and credibility of the listed company ESG data and its report information are very valued.

"Data is very important. The company that does well in ESG must first make the data well, so that you can lead other competitors in the industry." Lin Weijie believed.

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