VNET Earns Industry-Leading ESG Ratings from MSCI and S&P Global for Three Consecutive Years

Rhea-AI Summary

VNET Group, a leading Chinese internet data center services provider, has received top ESG ratings from MSCI and S&P Global for the third consecutive year. The company maintained an A rating from MSCI, excelling in clean tech opportunities, human capital development, and privacy & data security.

VNET's S&P Global CSA score increased by 17 points to 70 in 2024, achieving perfect scores in multiple categories including energy management, data center efficiency, renewable energy usage, and cybersecurity measures. The company ranks in the top 5% globally in the IT services industry and maintains the highest position in China's IT services sector.

Josh Sheng Chen, Founder and Executive Chairperson, emphasized VNET's commitment to sustainable growth and building a low-carbon digital future while creating value for stakeholders.

12/13/2024 - 06:00 AM

BEIJING, Dec. 13, 2024 /PRNewswire/ -- VNET Group, Inc. (Nasdaq: VNET) ("VNET" or the "Company"), a leading carrier- and cloud-neutral internet data center services provider in China, today announced that its outstanding 2024 ESG performance received high marks from leading ESG rating institutions MSCI and S&P Global. This global recognition highlights the Company's industry-wide ESG leadership and unwavering commitment to sustainable development, carbon neutrality, and green transformation.

VNET received an ESG rating of A from MSCI for the third consecutive year, with enhanced performance across opportunities in clean tech, human capital development, and privacy & data security. The Company's ESG rating holds the leading position in China's Internet Services & Infrastructure industry.

In addition, VNET's score in the 2024 S&P Global Corporate Sustainability Assessment (CSA) rose 17 points over the last year to 70, with full marks across energy management programs, data center efficiency, the share of renewable energy in data centers, climate risk management, occupational safety and health (OHS) programs, customer relations, and IT security/cybersecurity measures. To date, VNET's S&P Global CSA score ranks in the top 5% of the IT services industry globally and maintains the highest position within China's IT services sector for the third consecutive year.

"At VNET, ESG plays a pivotal role in our vision for sustainable growth," commented Josh Sheng Chen, Founder, Executive Chairperson, and interim Chief Executive Officer of VNET. "We are delighted to see our progress across our key ESG segments, Society, Human, Innovation, Environment, Leadership, and Development, once again win recognition from leading global ESG rating institutions. Going forward, we will deepen our commitment to building a low-carbon digital future, advancing the development of the green economy while creating long-term and sustainable value for all of our stakeholders."

MSCI Inc. is the world's leading provider of ESG indices, measuring enterprises' resilience to long-term, financially relevant ESG risks. The S&P Global CSA is a world-renowned annual evaluation of enterprises' sustainability practices, covering over 13,000 companies globally. Both serve as important tools in helping investors assess and benchmark companies' ESG investment performance, enabling them to make informed investment decisions.

About VNET

VNET Group, Inc. is a leading carrier- and cloud-neutral internet data center services provider in China. VNET provides hosting and related services, including IDC services, cloud services, and business VPN services to improve the reliability, security, and speed of its customers' internet infrastructure. Customers may locate their servers and equipment in VNET's data centers and connect to China's internet backbone. VNET operates in more than 30 cities throughout China, servicing a diversified and loyal base of over 7,000 hosting and related enterprise customers that span numerous industries ranging from internet companies to government entities and blue-chip enterprises to small- to mid-sized enterprises.

Safe Harbor Statement 

This announcement contains forward-looking statements. These forward-looking statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "target," "believes," "estimates" and similar statements. Among other things, quotations from management in this announcement as well as VNET's strategic and operational plans, including the plan to operate the Assets under the pre-REITs project, contain forward-looking statements. VNET may also make written or oral forward-looking statements in its reports filed with, or furnished to, the U.S. Securities and Exchange Commission, in its annual reports to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about VNET's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: VNET's goals and strategies; VNET's liquidity conditions; VNET's expansion plans; the expected growth of the data center services market; expectations regarding demand for, and market acceptance of, VNET's services; VNET's expectations regarding keeping and strengthening its relationships with customers; VNET's plans to invest in research and development to enhance its solution and service offerings; and general economic and business conditions in the regions where VNET provides solutions and services. Further information regarding these and other risks is included in VNET's reports filed with, or furnished to, the U.S. Securities and Exchange Commission. All information provided in this press release is as of the date of this press release, and VNET undertakes no duty to update such information, except as required under applicable law.

Investor Relations Contact:

Xinyuan Liu
Tel: +86 10 8456 2121
Email: ir@vnet.com

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SOURCE VNET Group, Inc.

FAQ

What ESG ratings did VNET receive from MSCI and S&P Global in 2024?

VNET received an A rating from MSCI for the third consecutive year and scored 70 points in S&P Global's Corporate Sustainability Assessment, representing a 17-point increase from the previous year.

How does VNET's S&P Global CSA score compare to other IT services companies?

VNET's S&P Global CSA score ranks in the top 5% of the IT services industry globally and maintains the highest position within China's IT services sector for the third consecutive year.

What areas did VNET achieve full marks in the 2024 S&P Global assessment?

VNET achieved full marks in energy management programs, data center efficiency, renewable energy share in data centers, climate risk management, OHS programs, customer relations, and IT security/cybersecurity measures.

How has VNET's ESG performance improved in MSCI's evaluation?

VNET showed enhanced performance in opportunities in clean tech, human capital development, and privacy & data security, maintaining an A rating from MSCI.

What is VNET's position in China's Internet Services & Infrastructure industry regarding ESG?

VNET holds the leading position in China's Internet Services & Infrastructure industry according to MSCI's ESG ratings.