CIFI’s ESG rating upgraded to ‘BB’ by MSCI for improvement in risk management and outstanding performance in product safety and quality control


HONG KONG, CHINA – Media OutReach – 30
September 2020  CIFI Holdings (Group) Co. Ltd.
(“CIFI” or the “Group”, HKEx stock code: 884), a leading
real estate developer and investor in first-, second- and robust third-tier
cities in China, is pleased that the world’s largest index company MSCI Inc. has
upgraded CIFI’s ESG (environmental,
social and governance practice) rating to ‘BB’ from ‘B’ for its outstanding
performance in product safety and quality control and improvement in risk
management. The move is a recognition of the Group’s achievements in its ESG
practice.

MSCI’s ESG rating report on CIFI states
that the Group has raised the standard of its management of overall ESG risks
significantly because it has adopted health and safety policy and programs,
ethical conduct programs, and green initiatives.

Mr. Lin Zhong, Chairman of CIFI, said
“We welcome the upgrade of our ESG rating by MSCI. The move is the capital
market’s recognition of CIFI’s ESG achievements. Looking ahead, CIFI will
continue to fulfill its responsibilities in the ESG. Specifically, it aims to
align its environmental practices with the international standards. The Group
continues adoption of the national environmental and health standards in its green
construction. CIFI aspires to become a model enterprise in ESG practice,
especially for the property sector. It will step up its efforts in environmental
protection, fulfilment of social responsibility and corporate governance. All
this is aimed at developing itself into a long-lasting company for
sustainability.”

The MSCI index is the most common
benchmark index used by portfolio managers around the world, and its ESG rating
results have become an essential basis for investment decisions by major
investment institutions. MSCI ESG Ratings are mainly based on such public
information as corporate ESG reports, websites, and news releases. It evaluates
the company’s sustainability performance from the perspective of ESG, assesses
the ESG risks faced by the companies, and identifies opportunities for the
company’s core business and ESG issues about which the industry is concerned.
MSCI ESG Ratings is based on the comparison of the weighted average scores of the
companies of the same industry in the world regarding their performances in
various criteria. The companies are rated on a scale of seven ratings from the
highest of “AAA” to the lowest of “CCC”.

About CIFI (Group):

Headquartered in Shanghai,
CIFI is one of China’s top real estate developers. CIFI principally focuses on
developing high-quality properties in first-, second- and select third-tier
cities in China. CIFI develops various types of properties, including
residential buildings, offices and commercial complexes.

To learn more about the
Company, please visit CIFI’s website at: http://www.cifi.com.cn

MORE FROM THIS SECTION


on Twitter, 'LIKE' us on Facebook

Comments are closed.