NaaS Technology Awarded by CDP a Global Above-average ESG Performance Rating

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NaaS Technology (NASDAQ: NAAS) received a 'B' rating for Climate Change in the latest CDP Score Report, surpassing the global average of 'C'. NaaS integrated ESG practices into its operations, reducing 1.463 million tons of carbon emissions in the first half of 2023. The company partnered with Kuaidian to incentivize carbon reduction among users, gaining over 594,000 EV users by 2023. NaaS scored 60 in the S&P Global Corporate Sustainability Assessment, outperforming 98% of peers. The company also received a '2' rating with a main score of '76' in ESG from Sustainable Fitch. NaaS' commitment to sustainability is further demonstrated by its participation in the Science Based Targets initiative and the United Nations Global Compact.

Insights

Environmental Analyst

The 'B' rating achieved by NaaS Technology in the CDP Score Report is indicative of the company's robust approach to environmental management relative to its peers. This rating places NaaS above the global average, signifying a strong commitment to environmental stewardship and transparency in climate-related disclosures. As environmental criteria are increasingly integrated into investment decisions, such a rating can enhance investor confidence and potentially lead to a more favorable view among environmentally conscious stakeholders.

Furthermore, NaaS's participation in initiatives like the Science Based Targets initiative (SBTi) and the United Nations Global Compact (UNGC) reflects a strategic alignment with global efforts to combat climate change. This proactive stance on sustainability can serve as a differentiator in the new energy sector, potentially translating into competitive advantages and increased market share as consumers and businesses alike prioritize green products and services.

Sustainability Investment Analyst

NaaS Technology's performance in various ESG assessments, including the recent 'B' rating from CDP, a '2' rating from Sustainable Fitch and a score of 60 from the S&P Global Corporate Sustainability Assessment, is a testament to its sustainability efforts. These ratings are particularly relevant for investors who are increasingly applying ESG criteria to their portfolio selection process. A strong ESG performance can attract ESG-focused funds and socially responsible investors, potentially leading to an increase in stock demand and a positive impact on the share price.

It's crucial to note that ESG ratings can influence not only investment decisions but also corporate borrowing costs. Companies with higher ESG scores may benefit from lower interest rates on loans and bonds, as they are perceived to have lower risk profiles. This can result in a favorable impact on the company's financials, improving profitability and providing additional capital for future green initiatives.

Market Research Analyst

By surpassing the average CDP rating for both the global retail industry and Asian companies, NaaS Technology is setting a high standard within the new energy sector. This achievement may serve as a catalyst for increased customer loyalty and brand value, as consumers are more inclined to support companies with strong sustainability credentials. Additionally, the company's innovative approach to engaging customers through carbon credits could foster a community of environmentally conscious users, further solidifying its market position.

The company's strategic partnerships and its comprehensive services across the new energy industry chain are likely to resonate well with both end-users and investors. As the market for green energy solutions grows, NaaS's integrated approach, covering everything from charging station siting to autonomous charging robots, positions it to capitalize on emerging opportunities and expand its market presence.

BEIJING, Feb. 22, 2024 /PRNewswire/ -- Global Environmental Information Research Center CDP (formerly known as Carbon Disclosure Project), also a leading global carbon emissions rating agency, has recently announced its latest CDP Score Report. NaaS Technology (NASDAQ: NAAS), participating for the first time in the assessment, achieved a "B" rating for Climate Change, surpassing the global average rating of "C".

Established in the UK in 2000, CDP is widely recognized as a gold standard for corporate environmental transparency. Its disclosure of 'Climate Change' performance rating thoroughly examine various dimensions including emission methods, data, and breakdown, to determine the final rating.

As a global operator of new energy assets, NaaS has integrated ESG into its products, services, and corporate governance. In terms of green development, NaaS provides services throughout the entire new energy industry chain, including charging station siting consultation, EPC engineering, operation & maintenance, energy storage, PV and autonomous charging robot. With green sources, stations and uses, the company enables green and low-carbon operation in all sectors of charging services, and continuously pursues its vision - "Empower the World with Green Energy".

In the first half of 2023, NaaS reduced 1.463 million tons of carbon emissions. In the meantime, NaaS has developed and promoted an inclusive carbon innovation mechanism. By teaming up with strategic partner Kuaidian, the company encourages users to engage in cutting carbon emissions by awarding carbon credits. By the end of 2023, the service has garnered more than 594,000 EV users.

NaaS' sustainable practices have gained global recognition. In February 2024, NaaS participated for the first time in the S&P Global Corporate Sustainability Assessment and scored 60, surpassing 98% of its peers. In September 2023, NaaS received a "2" rating with a main score of "76" in the environmental, social, and governance (ESG) rating from Sustainable Fitch. Additionally, NaaS has joined the Science Based Targets initiative (SBTi) and the United Nations Global Compact (UNGC), contributing to global carbon neutrality efforts.

CDP ratings are broadly used to inform investment and procurement decisions. Over 680 investors and more than 280 major purchasers, wielding a combined spending power of over $6.4 trillion, are requesting thousands of companies to disclose their environmental data through CDP, underscoring the importance of CDP. The CDP rating comprises eight levels, with the global retail industry averaging a B- rating in 2023 and an average C rating for Asian and global companies. NaaS' rating of B in its first CDP assessment exemplifies the company's exceptional international standards in environmental sustainability governance.

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SOURCE NaaS Technology Inc.

FAQ

What rating did NaaS Technology receive in the latest CDP Score Report?

NaaS Technology received a 'B' rating for Climate Change in the latest CDP Score Report, surpassing the global average of 'C'.

How many tons of carbon emissions did NaaS Technology reduce in the first half of 2023?

NaaS Technology reduced 1.463 million tons of carbon emissions in the first half of 2023.

Who did NaaS Technology partner with to incentivize carbon reduction among users?

NaaS Technology partnered with Kuaidian to incentivize carbon reduction among users.

What was NaaS Technology's score in the S&P Global Corporate Sustainability Assessment?

NaaS Technology scored 60 in the S&P Global Corporate Sustainability Assessment, outperforming 98% of peers.

What rating did NaaS Technology receive in ESG from Sustainable Fitch?

NaaS Technology received a '2' rating with a main score of '76' in ESG from Sustainable Fitch.

Which initiatives has NaaS Technology participated in to contribute to global carbon neutrality efforts?

NaaS Technology has participated in the Science Based Targets initiative and the United Nations Global Compact to contribute to global carbon neutrality efforts.