Research On The Supervision Of Environmental Information Disclosure Of Listed Companies

With the rapid development of economic globalization,the concept of green development has received unprecedented attention.The 19 th National Congress report clearly stated that it is necessary to speed up the establishment of a legal system and policy guidance for green production and consumption,establish a sound green and low-carbon circular economic system,and develop green finance.We will build an environmental governance system that is led by the government,dominated by enterprises,and attended by social organizations and the public.As an important subject affecting economic development,how to fulfill the social responsibility of sustainable development has become a high concern for all sectors of society.As the backbone of modern economic development,listed companies are one of the sources of frequent environmental pollution problems,and environmental risks have become one of their important business risks.They must disclose relevant environmental information that may bring about environmental risks in production and business operations,to enhance transparency and credibility of corporate information disclosure.The research on environmental information disclosure regulation in China started relatively late,weaknesses in the system have led to a proliferation of such phenomenon as failure to report,underreporting and misreporting of environmental information.This has made it difficult for audit institutions and investors to assess the green degree of listed companies,which has affected investor’s investment behavior towards listed companies.It is also not conducive to the reputation of the company and the image of the company,which hinders the effectiveness of supervision and law enforcement by the regulatory authorities and is not conducive to improving the credibility of green financial market.Therefore,it is necessary for the government regulatory authorities,self-regulatory organizations,third-party organizations and social media to jointly supervise the environmental information disclosure behavior of listed companies and urge them to seriously fulfill their disclosure obligations.Taking listed companies as the main body,this paper will analyze and compare the similarities and differences in the regulation of environmental information disclosure between listed companies in China and those in the United States,Japan and the European Union,and draw on the useful experience of developed countries in this regard.According to the actual situation of our country,we further improve our country’s environmental information disclosure regulatory legislation and regulatory system,adding new impetus to the construction of a green financial system.The main content of this article mainly has four parts.The first part briefly introduces the legislation,the main body of supervision and the means of supervision of environmental information disclosure of listed companies in China.The second part discusses the current state of the environmental information disclosure regulation law in China,puts forward the problems and suggestions of thelegislation of environmental information supervision in China.China lacks targeted regulatory legislation and the quality of environmental information disclosure.Compared with other countries,China has a strong sense of the rule of law,has relatively perfect regulatory laws,and bears strict legal responsibilities,and has achieved good results in practice.Our country needs to draw lessons from its experience to improve our country’s legal system.The third part discusses the problems and improvement measures in the external supervision of environmental information disclosure of listed companies in our country,and puts forward that the regulatory role of the government and other subjects in our country is not significant.There should be greater collaboration among the various regulatory authorities and full use should be made of the oversight role of third-party agencies,non-governmental organizations,the media and the public at large.The fourth part explores the problems existing in the internal management of listed companies.As important objects of supervision,listed companies need to promptly identify and correct internal management problems that affect their survival,actively cooperate with multinational companies,pay attention to internal control,improve the management mode of the company.Use big data and new media to promote the improvement of environmental information disclosure.