SHANGHAI, Sept. 2, 2020 /PRNewswire/ -- According to Morgan Stanley Capital International's (MSCI) latest set of ESG ratings for August 26th 2020, 3SBio has been upgraded to A status, surpassing that of 78% of companies in the global biotechnology industry.
MSCI ESG ratings focus on ESG issues that have a substantial impact on the industry at the environmental, social and corporate governance levels to measure a firm's level of risk exposure and its management capacities. The higher ESG rating reflects that the company's ESG management system and measures are more perfect, the ESG risk is lower, and the company's stable operation and standardized governance. The upgradation of 3Sbio's ESG rating is not only the recognition of 3Sbio 's ESG management level, but also the affirmation of its long-term investment value.
The upgradation of 3Sbio's ESG rating in 2020 is driven by improvements in the company's corporate governance practices. The board of directors of the company has responded to the requirements of the HKEx in advance, established the ESG Committee and approved relevant management system. In addition,3Sbio is constantly improving management and pursuing excellence in product quality and safety, human capital development, and healthcare accessibility.
Previously granted a B-rating in 2016, and BB-ratings in 2017 and 2018, and BBB-ratings in 2019, the current upgrade to a A-rating demonstrates 3Sbio's efforts to consistently improve its ESG management through a robust top-down approach. Secretary of 3SBio Group's Board of Directors said, "3SBio has always attached great importance to ESG management and has integrated ESG management into corporate governance. Every year, the Board of Directors makes special reports on the progress and performance of ESG management, and defines the work objectives and action plans for the following year. From the ESG Committee of the board of directors to the ESG working group, and then to various departments, 3SBio has consistently promoted the implementation of various work from top to bottom. 3SBio will continue to be responsible to its investors, committed to scientific innovation, create more economic value and social benefits, and use direct actions to fulfill its corporate mission."
Morgan Stanley Capital International (MSCI), is an international company that specializes in providing global indexes and related derivative financial products. MSCI global equity indexes are among the most widely used investment targets for global portfolio managers.
Environment, social and governance, often abbreviated as ESG, refers to three key non-financial factors that influence investment decisions. MSCI closely monitors the impact of ESG factors on the long-term risks and returns of institutional portfolios, and with this knowledge, provides ESG ratings for major listed companies throughout the world. The ESG ratings are divided into seven grades, from high to low they are: AAA, AA, A, BBB, BB, B and CCC. Due to their independence, consistency and openness of MSCI ESG ratings have become well-recognized as an important investment criterion by major investment institutions around the world.
THE USE BY 3SBIO OF ANY MSCI ESG RESEARCH LLC OR ITS AFFILIATES ("MSCI") DATA, AND THE USE OF MSCI LOGOS, TRADEMARKS, SERVICE MARKS OR INDEX NAMES HEREIN, DO NOT CONSTITUTE ASPONSORSHIP, ENDORSEMENT, RECOMMENDATION, OR PROMOTION OF 3SBIO BY MSCI. MSCI SERVICES AND DATA ARE THE PROPERTY OF MSCI OR ITS INFORMATION PROVIDERS, AND ARE PROVIDED 'AS-IS' AND WITHOUT WARRANTY. MSCI NAMES AND LOGOS ARE TRADEMARKSOR SERVICE MARKS OF MSCI.
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