Shanghai bourse asks STAR Market companies to disclose ESG details

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A sign for STAR Market, China's new Nasdaq-style tech board, is seen before the listing ceremony of the first batch of companies at Shanghai Stock Exchange (SSE) in Shanghai, China July 22, 2019. REUTERS/Stringer

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SHANGHAI, Jan 20 (Reuters) - The Shanghai Stock Exchange (SSE) said on Thursday it has asked companies listed on the Nasdaq-style STAR Market to disclose environmental, social and governance (ESG)-related information in their annual reports.

SSE sent a notice to STAR Market-listed companies recently, asking them to disclose ESG-related information, and added that separate ESG, social responsibility and sustainability reports should also be published, if needed.

SSE stressed that companies should disclose their plans on how to help China achieve its carbon-neutrality goals.

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China has pledged to hit peak carbon emissions before 2030, and achieve carbon neutrality by 2060.

News of the tougher disclosure rules was first reported by state-owned Securities Times earlier in the day.

SSE is also urging STAR Market companies to disclose information around their core technologies, including progress of research and development, application prospects, and flag any major potential risks and uncertainties.

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Reporting by Shanghai Newsroom; Editing by Sherry Jacob-Phillips

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