Rongsheng Petrochemical Upholds 'Green' Principles as MSCI ESG Rating Rises to BBB

December 04, 2024 12:00 PM AEDT | By Cision

Rongsheng Petrochemical Upholds 'Green' Principles as MSCI ESG Rating Rises to BBB — Image source: Kalkine Media

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HANGZHOU, China, Dec. 4, 2024 /PRNewswire/ -- A news report from: Shenzhen Panorama Network

Last week, MSCI, a globally leading index provider, has announced its latest ESG ratings for 2024. Rongsheng Petrochemical (002493.SZ) has seen its ESG rating upgraded from B in 2023 to BBB in 2024. Notably, the Company now holds the highest ESG rating – BBB – among the top 20 listed chemical industry companies by market value on the Wind platform.

As one of the most reputable ESG rating agencies worldwide, MSCI's assessments serve as a crucial reference for investors in global capital markets. The rating upgrade reflects Rongsheng Petrochemical's significant improvements in ESG management and underscores the international recognition of the Company's efforts in sustainable development.

A leader in China's petrochemical industry, Rongsheng Petrochemical is ranked 6^th in the "Global Chemical Companies Billion-Dollar Club" by Chemical Week, 6^th in the "Top 25 Most Valuable Chemicals Brand" by Brand Finance, and 8^th in the ICIS "Top 100 Chemical Companies".

The Company is primarily engaged in the R&D, production, and sales of various oil products, chemicals, and new materials products, and operates the world's largest integrated refining and chemical project, with an annual capacity of 40 million tons at its green petrochemical base.

In 2023, the Company achieved a total revenue of 325.1 billion RMB, with the overseas market contributing 48.88 billion RMB, or 15.03% of the total revenue. In the same year, Saudi Aramco acquired a stake in Rongsheng Petrochemical, marking the beginning of a strategic partnership aimed at advancing large-scale petrochemical projects in China and Saudi Arabia through mutual investments.

Looking ahead, Rongsheng Petrochemical remains committed to high-quality and sustainable growth. The Company is focused on advancing the circular economy and clean technologies, improving carbon emission management, and upgrading green technologies and innovative processes to mitigate climate change. It also aims to drive industrial synergies and low-carbon transformation while embracing the "green" concept, positioning itself as a reliable, long-term partner with strong sustainable investment potential.

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