Corporates continue to embed sustainability in core business strategies

 Amidst the evolving global energy landscape and a growing climate crisis, ESG-focused brands are playing a crucial role in creating a sustainable future. According to Thomson Reuters' Mid-year status report, 53% of 600 middle-market CFOs have integrated or are in the process of integrating sustainability principles into their core business strategy. Authentic sustainability disclosure is increasingly vital for the long-term development of corporations. The latest assessment by Morgan Stanley Capital International (MSCI) highlights several companies that are improving their ESG ratings, with notable examples such as Sungrow, a renowned renewable energy brand, achieving an 'AA' rating for its steadfast commitment to sustainability. 

Over the years, Sungrow has marked many noteworthy milestones on the global stage, such as securing a substantial 7.8GWh grid-side energy storage order in Saudi Arabia and a significant 3GWh independent energy storage order in Australia. The brand is always at the forefront of revolutionizing the renewable energy landscape with a steadfast commitment to technological innovation. The ESG achievement underscores the brand's dedication to sustainable growth in businesses and sound climate actions towards a greener world.

The MSCI ESG assessment wields significant sway among investors globally, offering a thorough assessment of ESG practices of over 8,500 publicly listed companies worldwide. Meanwhile, the sustainable development practices of Sungrow have also been recognized by international organizations such as S&P Global and Boston Consulting Group (BCG) in recent years.

According to the MSCI analysis, Sungrow is strongly aligned with the 4 Sustainable Development Goals (SDGs), including affordable and clean energy, industry, innovation and infrastructure, responsible consumption and production, and climate action. Furthermore, an Implied Temperature Rise of between 1.5 and 2.0°C indicates that the brand is in line with the Paris Agreement's long-term goal of limiting global mean temperature increase to below 2°C pre-industrial levels.

As per the sustainability report released at the end of 2023, the company reached a renewable energy usage rate of 55%, marking a significant increase. The energy consumption per unit of product production decreased by 6.75% compared to 2020, showcasing notable progress in sustainability efforts. Leveraging both technological and managerial energy-saving strategies, the company saved over 1300MWh of electricity throughout the year. Notably, Sungrow clinched the top spot among the top 10 constituents in the MSCI China A Onshore IMI Efficient Energy Index as of September 30th.