Fosun Tourism Receives Higher Ratings and Scores for ESG Performance from International Rating Agencies - The Only MSCI AAA-rated Company in Hotel and Travel Industry in Greater China Region
(8 March 2023, Hong Kong) – The rating of Fosun Tourism Group ("Fosun Tourism" or the "Group", Hong Kong Stock Exchange Stock Code: 1992), a world-leading leisure-focused integrated tourism group, has been raised from "AA" to "AAA" by MSCI, a global research, data and technology expert, recognizing its outstanding environmental, social and corporate governance (ESG) and data security measures. The Group also made significant progress two years in a row in the S&P Global Corporate Sustainability Assessment (CSA), making it among the top 13% of industries worldwide. What’s more, the Group’s sustainability performance has been rated "A" by the Hong Kong Quality Assurance Agency (HKQAA), reflecting clearly the market recognition the Group enjoys for its performance in ESG and sustainability.
With outstanding performance, the Group ranked first among six top global peers in the MSCI hotel and travel category, and was the only company to be given "MSCI AAA" rating in the hotel and travel industry in the Greater China region. In the MSCI ESG Research report, the Group received notably higher than industry average scores for critical attributes including corporate practices and privacy and data security, speaking clearly to the Group having formulated and implemented detailed business ethics policies and adopted effective measures to address potential data privacy issues.
In the S&P Global Corporate Sustainability Assessment, the Group scored above industry average in environmental, social and corporate governance, and its scores have improved markedly for two consecutive years. Moreover, the Hong Kong Quality Assurance Agency in the Sustainability Rating Report on the Group stated that the Group has incorporated its systematic sustainability strategy into operational practices, gaining for its wide industry recognition. The Group also scored above industry average in all core areas assessed, with the highest scores in consumer-related realms, reflective of the Group’s mature management methods used in all stages of operation from planning to project implementation. Those ways and methods included committing to first purchase certified cleaning products, using green energy and setting up a Customer Experience Department to improve customer satisfaction.
Fosun Tourism is committed to developing and operating its business in an environmentally friendly and sustainable manner, in the belief of mankind sharing the same future, thus has strived to create long-term value for all stakeholders. The Group encourages employees, group members, customers and business partners to take responsibility together for safe travelling, environmental protection, talent development, community building and other related aspects. With a well-established corporate governance structure, Fosun Tourism will continue to raise and improve its environmental, social and corporate governance standards to meet stringent international regulations and requirements. It will, as always, adhere to the principle of sustainable development, and with globalization, high quality, digitalization and ecology in mind, work hard on supplying more products that meet consumers’ demand for quality living in the future, while progressing steadily towards sustainable development.
MSCI is a leading provider of tools and services to assist the global investment community in making critical decisions. With more than 50 years of expertise in research, data and technology, MSCI helps clients understand and analyse risks and key factors that drive returns, so that they can build more effective investment portfolios and make better investment decisions. The MSCI ESG ratings measure a company’s ability to withstand long-term environmental, social and corporate governance risks and give industry-specific AAA to CCC rating to the company based on the major and most relevant aspects of its business model.
Launched in 1999, the S&P Global Corporate Sustainability Assessment (CSA) grades enterprises on how they put sustainability into practice, covering 61 different industry-specific ESG standards. Evaluating more than 7,000 companies each year, CSA has become a reference tool for enterprises, helping them gauge the financial importance of a company’s sustainability performance from the perspective of investors.
The Hong Kong Quality Assurance Agency is a non-profit organization established by the Hong Kong Government in 1989. Its sustainability rating and research are designed to rate the maturity and risks of a company’s system with regard to sustainability performance, based on and with reference to such international guidelines as ISO 26000 Guidance on social responsibility and Global Reporting Initiative (GRI). It adopts a fact-based scoring approach in rating the ability of a company in managing its sustainability performance and risks.