Research On Disclosure Of The Listed Companies' Environmental Information

In December 2017,the CSRC revised the contents of the listed company's annual report and the semi-annual report information disclosure and format,and issued the content of the company's information disclosure content and format guidelines for publicly issued securities No.2-the contents of the annual report.And Formats(revised in 2017)and “Content and Format Guidelines for Corporate Information Disclosure of Public Offering Securities No.3 – Contents and Formats of Semi-annual Reports”(revised in 2017).Among them,the forty-fourth article in the Content and Format of Information Disclosure of Companies That Offer Securities to the Public No.2-Contents and Formats of Annual Reports,revised the disclosure of environmental information.The company or its important subsidiaries belonging to the key pollutant discharge units announced by the environmental protection department shall disclose the following main environmental information in accordance with the provisions of laws,regulations and departmental regulations: sewage discharge information,construction and operation of pollution prevention facilities,and environmental impact assessment of construction projects.And other environmental protection administrative licensing conditions,emergency response plans for environmental emergencies,environmental self-monitoring programs,and other environmental information that should be disclosed.This revision is an important measure for the CSRC to carry out the spirit of the 19 th National Congress of the Communist Party of China,to improve the sense of corporate social responsibility and to effectively protect the legitimate rights and interests of investors,guided by Xi Jinping's new era of socialism with Chinese characteristics.This shows that with the increasing environmental problems,more and more attention has been paid to the environmental accounting issues of listed companies.At present,China's theoretical research on environmental accounting started late.In recent years,although there are certain research results,it is still in the exploratory stage.It has not yet formed a complete theoretical system and stereotyped practice model,so it still faces many problems.This article attempts to make some attempts in this area.Through combing the relevant theories of environmental information and commenting on related literatures,this paper proposes four environmental information theories,and describes each theory in detail,which lays a theoretical foundation for the following.In practice,this paper adopts the method of household data analysis and summary,and organizes and summarizes the presentation and disclosure of environmental information in the annual report of listed companies in manufacturing companies in 2017.It is concluded that the environmental information disclosure summary data of the annual report of the listed companies in the manufacturing industry,the number of disclosed households accounted for the proportion of the total number of listed companies,and classified and summarized the specific problems of environmental information disclosure found during the analysis.The analysis and summary results show that the percentage of mandatory disclosures in China accounts for the percentage of total households.At present,the proportion of companies that have to disclose environmental information in China's manufacturing enterprises is very small,only 36.08%.Most enterprises are in the scope of voluntary disclosure.Inside.Through the classification and summary of the problems found,it is found that the listed companies in China's manufacturing industry have the following problems: incomplete disclosure,irregular disclosure,and lack of relevant financial information in the disclosure.Among them,the lack of financial information accounted for 78.6%.Supported by the theoretical foundations mentioned above,this paper believes that the main causes of these problems are: imperfect laws and regulations and accounting standards,lack of corporate social responsibility,information asymmetry between management and stakeholders,and Lack of third-party audits of environmental information disclosure.Based on the above analysis,this paper takes three manufacturing listed companies punished by the China Securities Regulatory Commission as an example for analysis.The example proves that the listed company does have the above problems in environmental information disclosure.Finally,this paper evaluates the overall situation of the presentation and disclosure of environmental information of listed companies in 2017,and puts forward some suggestions for the above problems and reasons:(1)Improve the development of environmental laws and regulations and accounting standards(2)Strengthen internal control of environmental information disclosure of the company;(3)Improve social environmental awareness and demand for environmental information;(4)Establish supervision and audit of environmental information.