Sungrow Tops ESG Rankings in China

Inverter major Sungrow has announced that the Company ranked first in the 2021 China Top 500 ESG Companies list released jointly by the well-known organization Sina Finance ESG Rating Center and CCTV-1 “Brand of Great Power” program. A strong ESG rating and ranking is increasingly helping firms benefit with a stronger brand perception and access to lower cost funding even.

The environmental, social, and governance (ESG) criteria are a set of standards for a company’s operations that socially conscious investors use to screen potential investments. It’s an evaluation of a company’s collective conscientiousness for social and environmental factors.

Relying on the ESG rating database, Sina Finance conducted a comprehensive ESG evaluation of outstanding Chinese A-shares, Hong Kong stocks, U.S. stocks. It selected ESG rating data from 6 domestic and overseas rating agencies and related data published by a large number of think tanks as data. Nearly 50 key issues under the three dimensions of E, S, and G and around 450 specific indicators to which they belong are evaluated.

“ESG plays an important role in helping Sungrow build trust with our stakeholders and delivering sustained outcomes, and it’s an area of focus for us,” commented Cao Renxian, Chairman of Sungrow.

With a continued commitment to ESG, the Company has been rated AA by MSCI ESG for two consecutive years something few peers have achieved. It has also won the “2020 Corporate Social Responsibility Report AA Rating” awarded by the China Ministry of Industry and Information Technology (MIIT) as well as the “Social Responsibility Award” from the World Brand Lab. Notably, Sungrow joined China’s ESG leaders’ organization in mid-January 2022.

Focusing on renewable energy technologies, Sungrow takes PV and energy storage as its core businesses. The firm has expanded to wind power, the EV sector, and the green hydrogen markets in recent times. India is one of the few markets where the firm has a local manufacturing plant also.

Focused on delivering sustainability led solutions with high quality, the firm has earned a strong reputation worldwide. As of December 2021, the Company’s accumulative inverters shipments reached 224 GW — a number equivalent to generating around 315,200 GWh of clean electricity per year and eliminating 252 million tons of carbon dioxide.

Sungrow is also a dedicated member of RE100, with a pledge to source 100% renewable electricity across its entire global operations by 2028. As a member of UNGC, always aligns with the UN 17 Sustainable Development goals.

“Sungrow is committed to actively promoting ESG initiatives in the future. We’ll keep applying our wealth of expertise and skills to deliver sustainable solutions that are competitive, resilient, effective, and deliver joint benefits for all stakeholders,” Prof. Cao added.