Research On Designing And Applying Environmental Report In Listed Companies Of China

Environmental protection work in our country has lagging behind the economic development, all the time. The influence of environmental problem with negative effects on the economy and people’s daily life has become increasingly prominent. The main reason of the environmental pollution in our country is the enterprise’s all kind of the illegal behavior. Due to the asymmetry of information and supervision does not reach the designated position, the enterprise has been in the escape from the environmental responsibility, especially the responsibility of environmental information disclosure. In April 2014, the promulgation of the new "environmental protection law" gave environmental information disclosure a clear legal status and put forward strict requirements. Due to the CSRC still not has mandatory disclosure requirements of the environmental information disclosure about listed companies, there is no unified standards and operational guidelines. The environmental information disclosure of listed companies has such problems as disclosed at random, messy content, the good and bad are intermingled, variety of forms, attached to other report, which affect the construction of ecological civilization in our country. The majority of enterprises in China especially listed companies will face the problem of how to publish the environmental information with the new "environmental protection law" was formally implemented in January 1, 2015. In view of this, this article focus on the environmental report’s overall framework, specific content, compilation method and the release way of listed companies in our country from the independent environmental report perspective. This paper provides a reference for the CSRC to guide the environmental information disclosure and puts forward the constructive reference opinions of environmental report for the application and popularization in listed company.Firstly, this paper uses the method of literature study, found that in reference on the basis of a large number of literature at home and abroad a number of studies have focused on international comparison of environmental report practices, institution design and environmental information disclosure of related empirical studies. Few someone study the design of environmental report’s overall framework, compilation method, the operation specification and presentation form. It just provides entry point for this paper. Then, the paper defines the concept of environmental information and environmental report, and illustrates the basic theory of environmental report. Then, this paper selects environmental report, social responsibility and sustainable development report in 2009 to 2013 of the listed companies in both in Shanghai and Shenzhen as the sample. Using content analysis method analyses pattern, basis, contents and third-party verifications of environmental information disclosure of listed companies in our country. It found that environmental information disclosure of listed companies mainly exist the following problems as follows. Environmental information is lacking of unified format and content. Voluntary disclosure of environmental information is likely random. The quality of environmental information is poor. It just tends to advertise good image of enterprise and ignores negative information. The third-party verification lacks of comparability and uniformity. In view of this, this paper is committed to building a complete set of the overall framework, the specific content and compilation method of environmental report to guide the listed enterprises environmental information disclosure. First of all, build environmental report’s overall framework, including annual environmental report and temporary environmental report. Secondly, design the specific content of two reports and provide practice template with case analysis. The annual environmental report should include the following points.(1) Establishing the general situation to explain the whole report.(2) Company basic information. It provides the company’s stakeholders background information to understand the report easily.(3) Environmental management information. It is used to introduce the environmental management system and operation process about companies.(4) The overall situation of environment. It provides environmental information from three aspects including environmental protection compliance, pollution discharge and material flow analysis to fully understand the input and output of relevant companies environmental situation.(5) From the aspects of resource, energy, products and services, "three wastes", toxic substances, greenhouse gas, noise and biological diversity to disclosure environmental protection measures and the performance of the companies.(6) The financial impact of environmental activities. It focus on disclosure the environmental information measured with currency like company annual report. It realizes the unity of the environmental performance and financial performance.(7) Social impact of environmental activities. It realizes the unity of the environmental performance and social performance.(8) Third-party verification report. It provides reasonable guarantee the authenticity, reliability and accuracy of environmental information. Thirdly, design temporary environmental reports to disclosure significant pollution accident and publish in one day. Finally, put forward constructive reference opinions for application and popularization in listed company from four aspects. It includes mandatory disclosure requirements of the CSRC, technical support from relevant industry, self-construction of the company and the social public supervision by public opinion.