ENTERTAINMENT

Shanghai Electric’s MSCI ESG rating upgraded to BB, highlighting its continued improvement on ESG development – Tech

Shanghai, November 16, 2020 / PRNewswire / – Shanghai Electric (“Company”) (SEHK: 02727, SSE: 601727), the world’s leading manufacturer and supplier of power generation equipment, industrial equipment and integration services, was upgraded to BB for its MSCI is. ESG rating, as the company is striving to advance its new energy solutions and labor management.

Shanghai Electric is focusing on developing ESG’s own strategy, which refers to environmental, social, and corporate governance factors in measuring a company’s sustainability and social impact on investment. Last year, the company set up an ESG management committee, which prioritized ESG measures among its overall strategy, and incorporated the committee into its corporate governance structure.

MSCI’s move to upgrade Shanghai Electric’s ESG rating to BB reflects the company’s long-standing engagement in environmental protection and renewable clean technology. Given its involvement in renewable energy as well as energy storage and smart grids, the company is “well prepared for profit” Of china Steps to promote clean and low-carbon energy as part of efforts to increase carbon emissions by 2030, ”as noted in the MSCI rating report.

Shanghai Electric’s interim results underscored its efforts in developing ESG. In the first half of the year, it achieved 40.75% Year over year increase Combined new orders for energy equipment, integration services and industrial equipment. Within the new energy equipment, the year-on-year increase for wind energy equipment increased by 505.9%.

MSCI has given a positive assessment in the direction of Shanghai Electric’s business in clean electric technology. MSCI stated in the report that the company gained opportunities to participate in clean tech markets primarily due to its involvement in advanced nuclear power generation technology; Coal-based supercritical thermal; gasturbine IGCC power generator; Wind and solar power generation equipment; And smart grids, as well as waste treatment.

To ensure stable and quality production of its employees as well as physical and mental health, Shanghai Electric has built a sound labor management system. Housing for foreign employees, providing them with safe places to work efficiently and a proper rest between the COVID-19 epidemic, was established.

Shanghai Electric also values ​​the safety of its employees. Since January this year, the company has worked with local partners Install an expert virus prevention And locally hired personnel such as control teams for staff safety while working on site Dubai And Bangladesh Obtaining fact sheets and advisory handbooks with on-site safety training in both English and Arabic.

MSCI reported in the report that Shanghai Electric “has a lower probability of workflow disruptions due to labor unrest or reduced productivity due to job satisfaction.”

Meanwhile, Shanghai Electric is making efforts to prioritize its digitization reform. “We are actively pursuing internal improvements to be digital and smart,” said Cheng Yan, executive director and general manager of Shanghai Electric Digital Technology Co., Ltd.

The company’s latest achievements in digitalization include its upgrades. Seniculaud Platform, Which won the world’s first Industrial Intelligence Award in 2020 Tech Artificial Intelligence Summit earlier this year. Equipped with smart supply chain solutions designed to directly match factory production with power plant demands, one-stop platforms empower smart wind power operation, remote thermal power operation, machine tool maintenance, energy storage and distribution Has been established for.

Based on all its sustainability efforts, Shanghai Electric will further integrate ESG measures into its business operations to comprehensively improve its environmental, social and governance-related practices for years to come.

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