Ministry of Finance issued the Exposure Draft of Chinese Sustainability Disclosure Standards for Business Enterprises - Basic Standard and Explanation of the Drafting

On 27 May 2024, the Ministry of Finance of the People’s Republic of China issued an exposure draft to Sustainability Disclosure Standard for Business Enterprises – Basic Standard.
Sustainability Disclosure Standards for Business Enterprises for the People’s Republic of China will be made up of the basic standard, specific (thematic) standards and application guidance.
Although the draft is structured differently, it is clear that it was developed using the ISSB Standards as a base.
By 2027, China will have issued the climate-related disclosure standard as well as all of its accompanying guidance. By 2030, the entire suite of CSDS and its accompanying guidance would have been issued.
A phased in approach will be applied where all companies listed and non-listed, large companies and small and medium-sized companies will eventually be required to adopt.