[From "annual report appendix" to "strategic decision-making", the governance structure of listed companies is ushering in a wave of upgrades] On November 2, China Securities Index recently released a new version of the CSI ESG evaluation method (V4.0), which incorporates sustainable development-related governance structures into the core evaluation dimensions. The interviewed experts suggested that the operational quality of the corporate governance structure can be observed from details such as the setting up of the ESG special committee, the frequency and depth of the board of directors' deliberations, and whether the ESG report has been reviewed and approved by the board of directors. An evaluation orientation has led to actions at the company level. Since October, a number of A-share listed companies have updated their ESG working rules, expanded the "Strategy Committee" of the board of directors to the "Strategy and ESG Committee", and officially included ESG in the scope of discussions at the company's highest decision-making level. According to market participants, the continuous improvement of institutional supply, active implementation by listed companies, and iteration of investment evaluation systems are pushing the capital market ESG ecology from a single point of information disclosure to a systematic construction integrating governance, disclosure, and evaluation. (China Securities Journal)