On December 28th, Fitch Evergreen released its ESG rating report, awarding Shandong Gaoxin Holdings (00412.HK) an ESG issuer rating of “2” (ratings range from “1” to “5”, with “1” being the highest) for its outstanding performance in the new energy industry. This is the highest ESG issuer rating awarded by Fitch Evergreen in the Asia-Pacific region to date.
As a professional rating agency under Fitch focusing on ESG, Fitch Evergreen believes that Shandong Gaoxin Holdings’ ESG issuer rating is mainly due to the fact that 77% of its revenue in the first half of 2022 came from Shandong Gaoxin New Energy (01250.HK), with the majority originating from its photovoltaic and wind power businesses—both of which make positive contributions to mitigating climate change. In addition to its business activities, Shandong Gaoxin Holdings’ ESG performance also benefits from its sound corporate governance, particularly in risk management.
As carbon neutrality becomes a global consensus, countries are setting their own carbon neutrality targets and timelines. In September 2020, China explicitly proposed the goals of “carbon peaking” by 2030 and “carbon neutrality” by 2060. The 20th National Congress of the Communist Party of China (CPC) proposed accelerating the green transformation of development patterns and actively and steadily promoting carbon peaking and carbon neutrality. Under the overarching “dual-carbon” strategy, practicing ESG principles and strengthening ESG governance have become powerful tools for implementing the major deployments of the 20th CPC National Congress and promoting high-quality and sustainable development of enterprises.
In recent years, Shandong Hi-Speed Holding Co., Ltd. (Shandong Hi-Speed Holding) has actively practiced the ESG development concept, promoting the deep integration of ESG with industry and capital through top-level design of its development strategy. In May of this year, the company seized the strategic opportunity of “dual-carbon” by acquiring a 43.45% stake in Shandong Hi-Speed New Energy, rapidly entering the new energy industry from a high starting point. Shandong Hi-Speed New Energy has an installed capacity of over 4GW for wind and solar power, an annual power generation of 6 billion kWh, and an annual carbon reduction of approximately 4.8 million tons. Shandong Hi-Speed Holding fully leverages the abundant resources of its controlling shareholder, Shandong Hi-Speed Group, to promote the high-quality integrated development of infrastructure and energy networks, striving to build Shandong Hi-Speed New Energy into a leading enterprise in the industry. Shandong Hi-Speed Holdings is also the controlling shareholder of Shandong Hi-Speed Environmental Energy (000803.SZ), an A-share listed company. Shandong Hi-Speed Environmental Energy focuses on the resource utilization of kitchen waste and is a leading enterprise in the domestic organic solid waste investment and operation field. Through industrial mergers and acquisitions, Shandong Hi-Speed Holdings has initially built a green and environmentally friendly industrial ecosystem.
In the future, Shandong Hi-Speed Holdings will deeply implement ESG principles, continuously improve ESG performance, fully leverage its advantages of “industry-finance integration + domestic and international linkage,” cultivate the green and low-carbon industry sector, establish its brand as an expert in industrial investment, and contribute to the green transformation and development of Shandong Hi-Speed Group.
