TCL Zhonghuan ESG Rating Upgraded to BBB by MSCI

SHENZHEN, China, Dec. 20, 2024 /PRNewswire/ -- On December 16th, Morgan Stanley Capital International (MSCI), a globally recognized financial services firm, has upgraded TCL Zhonghuan's ESG rating from "BB" to "BBB" in its latest report.

ESG Triumphs with Authoritative Recognition

The MSCI ESG ratings have become a global leader in the investment decision-making process of major asset management institutions relying on their authoritativeness and credibility. The rating assesses corporate risk exposure and management across the three critical dimensions: Environmental, Social, and Governance (ESG) factors. It thoroughly evaluates and scores key industry-related issues, including clean technology opportunities.

Beyond its direct impact, MSCI's ESG ratings have also been widely recognized for their authority and credibility. Today, they are a trusted data point for major asset management institutions worldwide in making investment decisions.

In its MSCI ESG ratings, TCL Zhonghuan demonstrated a substantial improvement in its weighted average scores across all evaluated criteria compared to the previous year. The company now holds a prominent position within the global industry, particularly excelling in key issue areas such as clean technology opportunities, supply chain management, and corporate conduct.

Innovating in Clean Energy Development

By adhering to Industry 4.0 and Quality 4.0 principles, TCL Zhonghuan continues to advance its innovation in photovoltaic technologies and discover growth opportunities within the industry. In terms of water resource management, the company has developed targeted control measures to mitigate water resource risks. TCL Zhonghuan also applies water conservation initiatives in core industries, and continues to empower the supply chain to improve resource use efficiency. In the latest Sustainability Report, the company has achieved a recycling milestone, repurposing a total of 22.77 million cubic meters of water throughout the year. This accomplishment improved the water recycling rate to 43.68%, with alternative water sources accounting for 54.51% of the total water usage.

Exceptional Supply Chain Management Performance

In terms of the sustainable supply chain, TCL Zhonghuan continues to strengthen the construction of an ESG management system in the supply chain. Through its "ESG Code of Conduct for Partners," the company sets strict guidelines for suppliers from various dimensions, such as interests, environmental protection, business ethics, and more to jointly build a sustainable supply chain in the photovoltaic industry.

Striving to Make a Greater Impact

In terms of corporate governance, TCL Zhonghuan continues to enhance the independence and diversity of the board of directors, maintain a systematic ESG risk management system, improve and publish its Code of Business Conduct, and obtain the ISO 37301 compliance management system certification.

As for talent development, the company is committed to creating a diverse, inclusive, equitable workplace for its global talents.

Excellent ESG Practitioner

TCL Zhonghuan remains at the forefront of the industry in ESG related initiatives. Since its inclusion in the MSCI index, the company has continuously upgraded its ESG rating. With its strategic layout and outstanding performance in the ESG field, TCL Zhonghuan has also been recognized with multiple accolades and honors, including being included in the "S&P Global Sustainability Yearbook 2024 (China Edition)", ranked No. 1 in the photovoltaic industry in the "Pioneer 100 of China's ESG Listed Companies" for a second time, and honored with other prestigious awards in ESG for several times. 

TCL Zhonghuan remains steadfast in its founding mission of sustainable development. In the future, the company will be committed to working alongside all stakeholders to advance sustainable development strategies, driving the global green energy industry towards high-quality growth and sustainable progress. TCL Zhonghuan is dedicated to contributing the photovoltaic strength to the worldwide transition to clean energy.

About TCL Zhonghuan

TCL Zhonghuan Renewable Energy Technology Co., Ltd. is a high-tech manufacturing company committed to the photovoltaic industry for many decades. The company has always adhered to the concept of differentiated competitiveness, as well as endless technological innovation and product innovation. Besides, by applying the advanced Industry 4.0, TCL Zhonghuan continues to optimize and upgrade the way of production and manufacturing, in pursuit of high-quality development.