VNET Publishes 2022 Environment, Social and Governance Report

Rhea-AI Summary

On April 24, 2023, VNET Group announced the release of its 2022 Environmental, Social and Governance (ESG) Report, showcasing performance and sustainability initiatives. In 2022, VNET enhanced its SHIELD sustainability system, raising its MSCI ESG rating to 'A', the top rank in China's Internet Services & Infrastructure sector. Key highlights include:

• Average annual power usage effectiveness (PUE) of 1.37.
• Green power purchase agreement with CGN Solar Energy for approximately 4 million kWh in 2023.
• Green data center certifications for eight facilities.
• No major operational disruptions and network outages.
• ISO 37001 Anti-bribery certification.
• 100% employee information security training coverage.
• 29% of management positions occupied by women.

For more details, visit VNET's Investor Relations.

Positive

• Raised MSCI ESG rating to 'A', highest in China's sector.
• Achieved average PUE of 1.37, indicating energy efficiency.
• Secured a green power purchase agreement for 4 million kWh.
• Obtained certifications for eight data centers, enhancing credibility.
• Achieved zero major operational disruptions, ensuring reliability.
• Certifications demonstrate commitment to anti-bribery practices.
• Full compliance in employee information security training.
• Increased female representation in management to 29%.

Negative

• None.

BEIJING, April 24, 2023 /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 it has published its 2022 Environmental, Social and Governance Report (the "2022 ESG Report"), highlighting its 2022 performance and initiatives related to sustainability, ethical business practices, digital empowerment, and social responsibility.

"In 2022, we increased our focus on building our SHIELD (Social-Human-Innovation-Environment-Leadership-Development) sustainability system and further integrating ESG concepts into every aspect of our operations," said Jeff Dong, Chief Executive Officer of VNET. "In December 2022, MSCI raised our ESG rating to 'A', which represents the highest ranking to-date in China's Internet Services & Infrastructure industry. I'm proud of how we continue to evolve our practical capabilities and programs to help promote the harmonious coexistence between the enterprise, economy, society and environment. By doing so, we are writing a new chapter in the sustainable development of the global digital economy. Going forward VNET will continue to elevate our ESG engagement and embrace our responsibility to deliver sustainable value for all stakeholders."

VNET is proud to share its commitment with stakeholders, including these highlights from the 2022 ESG Report.

• Reported average annual power usage effectiveness (PUE) of 1.37 at VNET's data centers with stabilized operations in 2022.
• Signed a 2023 green power purchase agreement with CGN Solar Energy for approximately 4 million kWh. The purchase agreement also contains a green power supply guarantee of approximately 500 million kWh over the next five years.
• Obtained green data center certifications for eight data centers.
• Achieved zero major IDC operational disruptions and network outages.
• Passed Anti-bribery Management System (ISO 37001) certification.
• Achieved 100% coverage of information security training for employees.
• Increased the percentage of female employees in management positions to 29%.

To view the full 2022 ESG Report, please visit the Company's Investor Relations website at https://ir.vnet.com/ or access the report at https://www.vnet.com/en/esg.html.

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 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 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 and in the attachments 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 

View original content:https://www.prnewswire.com/news-releases/vnet-publishes-2022-environment-social-and-governance-report-301805441.html

SOURCE VNET Group, Inc.

FAQ

What are the key highlights from VNET's 2022 ESG Report?

VNET's 2022 ESG Report highlights include an MSCI ESG rating increase to 'A', power usage effectiveness of 1.37, a green power purchase agreement, and enhanced employee training in information security.

When was VNET's 2022 ESG Report published?

VNET published its 2022 ESG Report on April 24, 2023.

What sustainability initiatives did VNET announce in the ESG Report?

VNET announced initiatives like the SHIELD sustainability system, green data center certifications, and a commitment to zero major operational disruptions.

What is VNET's average power usage effectiveness in 2022?

VNET reported an average power usage effectiveness (PUE) of 1.37 at its data centers in 2022.

How many data centers did VNET receive green certifications for?

VNET obtained green data center certifications for eight facilities.