China Plans to Adapt Global ESG Standards for Domestic Context

China has pledged to base its draft ESG rules on those set forth by the International Sustainability Standards Board, with some exceptions.

China’s finance ministry said Monday its draft reporting rules are “aligning with China’s context and showcasing Chinese characteristics.” China is one of three countries hosting ISSB headquarters, alongside Germany and Canada.

So far, about 20 countries are planning to adopt environmental, social and governance reporting standards that are in sync with the ISSB’s.

“We’ll try to build the number up to 100,” ISSB chair Emmanuel Faber said at a press conference Tuesday. Rules from the sustainability board’s sister ...