This report systematically introduces the definition and various scenarios of climate risk,discusses ESG investment in response to climate change,and evaluates the quality and performance of climate-related financial disclosure of China’s A-share and Hong Kong’s H-share listed mainland companies,with the ESG and TCFD reports issued by more than 5,000 domestic listed mainland companies as samples,for the year 2022. The research finds that:1)climate-related financial disclosures of Chinese companies are still in their infancy,but not significantly lagging behind;2)capital market sector companies have a pioneering power in climate-related financial disclosures;and 3)climate-related strategic and risk information disclosures and mechanism development of Chinese listed companies need to be enhanced. In this paper,the research on climate-related disclosures also introduces the cases of climate risk assessment,stress testing in the banking industry,and related assessment tools,which provides a theoretical framework and practical reference for enterprises and financial institutions to improve the ESG investment system under climate risk.
<<Keywords: | ESG investmentClimate-related RiskClimate Stress-testingClimate Scenario AnalysisTask Force of Climate-related Financial Disclosure |