ESG Information Disclosure in China: Institutional "Localization" in a Developing Country

Over the years, the concept of ESG, introduced from Western developed countries, has become increasingly implemented in China, gradually forming a mature system. However, as a developing country, China's national conditions and social realities differ significantly from those of Western developed nations, leading to maladaptation in the process of ESG information disclosure by listed companies. This maladaptation manifests as incomplete disclosure content, inconsistency in the scope of disclosure, and "greenwashing." This study, from the perspective of a developing country, summarizes the social issues and relevant policy improvements of other developing countries to propose recommendations for ESG information disclosure that are more suited to China's current national conditions. This aims to promote a high-quality, sustainable development that is internationalized yet distinctly Chinese.