The Researeh Of The Dual Listed Companies’Carbon Disclosure Quality In China And The United States

The carbon disclosure quality in the market of China and the United States is different,Primarily for the dissimilar in the carbon disclosure laws and regulations and the development degree of carbon trading market.In this paper, the carbon disclosure quality is comparative studied on both sides of the dual listed companies in China and the United States, find out the carbon disclosure differences and the reasons, and help to guide our country enterprise in practice of the carbon disclosure.This paper compares the system of relevant laws and regulations of China and the United States related to climate change,and discusses the laws and regulations aspect of carbon disclosure requirements, at also probes into the regulations related to carbon emissions trading. Comparative study on the rules and regulations of China and the United States on carbon disclosure and trading,and analysis on the institutional differences of the quality of the carbon disclosure.At the same time, using the experience of domestic and foreign research related to environmental performance evaluation system, to build the carbon disclosure quality evaluation system. We studied11dual listed companies’ annual report, Sustainable development report and Social responsibility report which submitted to Shanghai stock exchange, New York stock exchange and sustainable development center based on the carbon disclosure quality evaluation system.From the perspective of information users, this paper constructs the carbon disclosure quality index evaluation system, based on the evaluation of11companies in the market of carbon disclosure quality, the comparison of the same enterprise carbon disclosure disclosure quality differences in China and the United States.We find that the dual listed companies’carbon disclosure quality is low. The average score of carbon disclosure quality is0.34270at abroad, and it is0.31309at home. It’s easy to see the average score of carbon disclosure quality is different in the two market. It performances well at strategic and financial information.The average score of strategic and financial information are0.06104,0.01980respectively at home, but they are0.08641,0.02971respectively at abroad.The perfect regulation system, also the mature development of the international carbon emissions trading market at abroad leads the carbon disclosure performance well at abroad. The company should responsible for carbon disclosure, also combine carbon emission performance with financial management evaluation system. We should establish the carbon disclosure system in our country. This paper is innovative in the following aspects:We are studied the environmental information disclosure, but the comparetion of carbon disclosure quality of dual listed companies is missing. Also we combined the system of environmental performance with the international Carbon disclosure framework to build carbon disclosure quality evaluation system. We compared dual listed companies’ carbon disclosure quality based on the carbon disclosure quality evaluation system. We analyzed the characteristics of carbon information disclosure of listed companies in our country at present, as well as the existing problems and the reasons, So we can learn experience from this process.The innovation of this paper is that we only compared dual listed company carbon information disclosure quality based on annual report and social responsibility report in2011, we didn’t continue compare carbon information disclosure quality in further period. So it can’t reflect the variation of carbon disclosure quality. Also the carbon disclosure quality evaluation system may not include all the indicators, the carbon disclosure quality assessment results will be influenced.