Shanghai Electric clinches ESG Best Practices Award, scored in Environment category

Feb 03, 2023 (China Knowledge) - Wind Information, China's largest provider of financial terminal, has just announced the winners of 2022 ESG Best Practice Award among China-listed companies. This year Shanghai Electric Group (601727) (2727) clinches the 2022 ESG Best Practices Award for the Environment Category. The company scored highest for its practical measures and performance in the field of environment protection.

This selection is based on its Wind Information's rating system, and it comprehensively selects companies throughout the year. Shanghai Electric stands out among A-share companies and won the award.

According to the ESG report disclosed by Shanghai Electric, the company has not only achieved remarkable results in continuous promotion of energy saving, reduction in energy consumption, and promotion of greener office. It strives to reduce the negative impact of emissions on the environment by emphasizing and strengthening waste discharge management. In addition, it has optimized and upgraded the safety and environmental management, and through analysis of risk factors, it has formulated corresponding management objectives to alleviate such risk exposure.

Company-wide Shanghai Electric optimizes the combination of "thermal power and new energy", and vigorously develops the technological innovation and industrial layout of "wind-solar, hydrogen storage". This resulted increases in capacity of new energy consumption, and promotes the transformation of alternative fossil energy with new energy.

In terms of energy efficiency, the company implements the strategy of "Energy Conservation Priority" by applying various energy-saving alternatives in various industry scenarios through technological innovation and provision of high-efficiency energy-saving products and services.

On resource utilization, it has built an efficient system capable of flue gas treatment, water treatment, solid waste treatment, carbon dioxide capture, and promotes the recycling of energy resources.

In pollutant management, it has established and improved a long-term clean production mechanism that could enhance green development capabilities. Relying on its self-developed technology in denitrification, dust removal, desulfurization technology and ultra-low emission; these could extend to non-energy sectors.

Other ESG related awards recently awarded to Shanghai Electric include "Annual Zero-Carbon Future Leader" (Oct 2022), "Interface Innovation and Intelligence Industry Forum" (Jan 2023), "Xinhua Credit Jinlan Cup Leading Case of Carbon Peak and Carbon Neutralization". MSCI, an international authoritative index agency, also recently upgraded Shanghai Electric's ESG rating from BBB to A.

At a time when global investors are paying close attention to the development of corporate ESG, Shanghai Electric has been promoting the construction of the ESG system for some years and is committed to achieving sustainable development goals.

Its management has regularly stressed independent research and the deployment of technological innovation to undertake the national "dual carbon peak" target responsibly, and to improve the level of ESG governance in all aspects.