CIMC Enric Received ESG Rating Upgrade from MSCI

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Dec 04, 2023, 04:59 ET

A Great Leap by Two Levels to Grade AA

ESG Performance Steps Up to Industry Leaders

HONG KONG, Dec. 4, 2023 /PRNewswire/ -- CIMC Enric Holdings Limited and its subsidiaries (collectively, "CIMC Enric" or "Company") (Hong Kong stock code: 3899.HK) were pleased to announce that according to the annual rating results announced by MSCI (Morgan Stanley Capital International), an authoritative international index company, CIMC Enric's latest annual ESG (Environmental, Social and Governance) rating has been upgraded by two scales from BBB to AA, which is currently the highest rating in China's industrial machinery industry, which is the only AA rating of its kind in its industry within China and is in global industry leader position. Previously, the Company's ESG rating was also upgraded by Wind ESG to Grade AA this year, ranking first among its peers in the Greater China region.

MSCI is widely regarded as one of the most prominent and reputable ESG index rating agencies in the global capital market, with its rating results serving as a mainstream investment reference in the international capital market. CIMC Enric's MSCI ESG rating has been upgraded for two consecutive years, especially this year jumped from BBB to AA. This achievement is an objective reflection of the efficacy of CIMC Enric's sustainable development strategy and the effectiveness of its ESG governance, while also reflecting the capital market's intuitive recognition of the Company's long-term value.

According to the MSCI rating report, CIMC Enric's management performance in the four key issues of Opportunities in Clean Tech, Toxic Emissions & Waste, Labour Management and Governance are all above the industry average, with a particularly outstanding performance in Corporate Governance, which was rated by MSIC as "the Company falls into the highest scoring range relative to global peers, reflecting the governance practices are generally well aligned with investor interests".

As a global leader in advanced clean energy, chemical and environmental, and liquid food equipment manufacturing industries, CIMC Enric has consistently adhered to its mission of "promoting energy cleaner, fostering sustainable environments and making our lives better". We are committed to implementing a sustainable development strategy encompassing "scientific and technological innovation, intelligent interconnection, growth with quality, and building comprehensive service capabilities for clean energy integration". To achieve this goal effectively, we have established and implemented a "three-level ESG management system", which includes "ESG decision-making and governance level: Board and Sustainable Development Committee; ESG management level: Sustainable Development Leader Group; and ESG executive level: ESG Working Group consisting of employees from every department and member company within the Company". We will continue to promote our core ESG governance strategy centered on "promoting climate-friendly practices, advancing scientific and technological progress, fostering intelligent manufacturing, encouraging product innovation, adopting a people-oriented approach, and achieving multi-win-win outcomes". We aim to embed low-carbon, zero-carbon, and sustainable development concepts into our business development strategy for the harmonious growth of enterprises, customers, employees, society and the environment.

In the field of clean technology, the Company continues to precipitate industrial wisdom and share advanced experience with all partners. The Company is deeply committed to developing the whole industry chain of natural gas and low-carbon energy, and is ahead of its peers in the whole industrial chain of hydrogen "Production, Storage and Transportation, Refuelling and Application", manufacturing and providing clean energy intelligent core equipment and one-stop solutions for customers, helping society replace high-carbon energy with clean energy, promoting various industries to achieve breakthroughs in zero-carbon energy application scenarios and realise the goal of dual-carbon. Moreover, the Company is actively investing in the production of green methanol and the development of related key equipment.

In terms of environmental and emission management, the Company continuously strengthens its environmental management capability and enhances its adaptability to climate change. The Company has set environmental and health and safety management objectives, which are regularly assessed and linked to compensation performance, to encourage the environmental management capability of its member companies to continuously approach international standards, such as ISO14001, and to ensure the realisation of energy-saving and consumption reduction in its operations, as well as green production and manufacturing.

Regarding workforce management, the Company has always adhered to the philosophy of open, integrity and multi-win cooperation, and is committed to creating a win-win relationship internally and externally that is pluralistic, equal and progressive. The Company provides adequate career development programmes for employees, systematically trains employees in skills, management and leadership, and fully encourages the development of women's strength in the workplace.

Chairman of CIMC Enric and Chairman of the Sustainability Committee, Mr. Gao Xiang, said, "The MSCI ESG rating being upgraded to AA is a high recognition of CIMC Enric's sustainable development governance and management achievements. It also reflects the capital market's full affirmation of the Company's sustainable development management performance. In the future, CIMC Enric will continue to actively respond to the national strategy of addressing climate change and energy transformation, consolidate the sustainable development capability of the enterprise with long-term and firm commitment and practice, and fulfil the enterprise's mission with actions."

SOURCE CIMC