The Financial Market Commission (CMF) regulation that modernizes and improves the environmental, social and governance (ESG) standards that issuers of publicly offered securities enrolled in the Securities Registry must include in their Annual Reports. The new Annual Report proposal is based on an approach starting with the entity's governance, strategy, and risk management system. It is supplemented by the disclosure of specific indicators and goals. The new Report will allow knowing how entities structure their corporate governance; define the strategies to achieve their goals; and how they determine, identify, and manage materially relevant risks. Once CMF formally adopts the rules, the watchdog would implement them gradually, starting with large companies,.