MSCI ESG Boosts Rongsheng Petrochemical's Rating to BBB on Green Initiatives

HANGZHOU, China,Dec. 3, 2024/PRNewswire/ -- A news report from :Shenzhen PanoramaNetwork: 

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 inChina'spetrochemical industry, Rongsheng Petrochemical is ranked 6thin the"Global Chemical Companies Billion-Dollar Club"byChemical Week, 6thin the"Top 25 Most Valuable Chemicals Brand"by Brand Finance, and 8thin 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 of325.1 billion RMB, with the overseas market contributing48.88 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 inChinaandSaudi Arabiathrough 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.

CisionView original content:https://www.prnewswire.com/apac/news-releases/msci-esg-boosts-rongsheng-petrochemicals-rating-to-bbb-on-green-initiatives-302320193.html

SOURCE Shenzhen Panorama Network