Shanghai Electric's Efforts Included in 2023 ESG Excellent Cases of Chinese Public Companies

SHANGHAI, Nov. 30, 2023 /PRNewswire/ -- Shanghai Electric (SEHK:2727, SSE:601727) was honored at the Chinese Listed Companies Sustainable Development Conference for its remarkable performance in Environmental, Social, and Governance (ESG). Included in the "2023 ESG Excellent Cases of Chinese Public Companies", the company's progressive strategies and unique insights have significantly contributed to the transformation of the ESG landscape in China. The annual event, run by the China Association for Public Companies (CAPCO), acknowledges listed Chinese companies that have made considerable progress in areas such as climate impact, social responsibility, and corporate governance.

This year, CAPCO received 451 ESG cases, doubling the amount from the previous year. Companies were evaluated based on their efforts in comprehensive ESG practices, with the emphasis on their actions to minimize carbon footprints and aid societal development.

Over the past few years, Shanghai Electric has been bolstering its ESG management and strategy, developing solutions that pave the way for China's transition to new energy and empower the country to move towards a zero-carbon future. Driven by a vision to catalyze innovation in renewable and green energy while elevating global living standards, Shanghai Electric leverages its decades of expertise in energy and equipment manufacturing to offer a wide range of solutions that optimize the efficiency of energy generation, power transmission and distribution, railway infrastructure, and smart buildings.

On the environmental front, Shanghai Electric is leading the way in energy recycling innovation, creating systems that can handle flue gas, water, and solid waste treatment while significantly reducing carbon emissions. Holding environmental responsibility at its core, the Company is guided by green principles to enhance its production and operations while acknowledging its crucial role in environmental protection, embracing the climate and pollution challenges as a roadmap for business transformation, and setting clear goals for both short-term and long-term actions to promote sustainability.

Strategically integrating wind, solar, storage, and hydrogen energy, Shanghai Electric has synergized the advantages of traditional and renewable energy sources to develop a new generation of power systems characterized by low costs, low carbon emissions, and high performance. Shanghai Electric expands business alliances as it seeks to establish an industry eco-system, sharpening its competitive edge by focusing on R&D in key industries, which allows the Company to achieve remarkable outcomes in product innovation, project development, and talent cultivation in recent years.

Shanghai Electric is also committed to compliance with laws and regulations, with a strong emphasis on improving operational transparency. The Company strengthened its corporate governance by enhancing its internal compliance, establishing clear and effective communication channels, and safeguarding shareholder rights.

Now, Shanghai Electric has been included in the Hang Seng Sustainable Development Series Index, with its ESG rating upgraded to "A" by MSCI. Building upon its strategy designed to facilitate China's dual-carbon goal of carbon peak and carbon neutrality, Shanghai Electric has further advanced its pledges for decarbonization by releasing Shanghai Electric's Dual-Carbon Action Plan this year.

source: Shanghai Electric