WEBWIRE – Wednesday, April 27, 2022
The rating agency highlights Fluidras improvement in Environmental and Social matters, and maintains its rating in Corporate Governance.
The improvement in the rating reflects the companys commitment to ESG, as reflected in the Responsibility Blueprint.
Fluidra, the global leader in equipment and connected solutions in the pool and wellness sector, has achieved a rating of 71 in S&Ps ESG Evaluation, improving on its previous score of 69.
On the environmental front, S&P highlights Fluidras efforts to reduce its carbon footprint throughout the value chain, in line with the commitment to neutrality by 2050. S&P also highlights the companys commitment to increase its offering of products that are more efficient in water, energy and chemicals consumption.
On the Social side, S&P highlights that Fluidra has significantly improved all of its health and safety metrics in 2021 and has also shown a strong commitment to positively impact the communities in which it operates.
According to S&P, Fluidra maintains corporate governance standards in line with the robust Spanish system and stresses that recent changes in the Board of Directors have improved its independence and diversity.
Fluidras ESG rating reflects the track record of its sustainable product innovation, adequate governance, as well as evolving sustainability strategy in an industry moderately exposed to social and environmental risks, highlights the document released by S&P.
Firm commitment by the company to ESG
Fluidra presented its full ESG Master Plan, the Responsibility Blueprint, at its last Capital Markets Day for the 20202026 period. With regard to environmental issues, Fluidra has committed to becoming a carbon neutral company in terms of Scope 1 and 2 by 2027 and of Scope 3 before 2050. Fluidra has also committed to building up the sales of its products currently classified as ESG friendly from 50% to 80% by 2035.
Insofar as social matters are concerned, Fluidra is focusing on gender equality, with a commitment to reach the net wage gap by 2024. Lastly, governance is also a core part of the companys road map, for which an analysis is being made of ESG risks that will be in line with the best practices set by the Task Force on Climate-related Financial Disclosures (TCFD), which provides guidance designed to improve investors understanding of the impact of climate risks on different corporations.
During 2021 Fluidra was recognized for its efforts to improve its environmental, social and good governance performance, improving the score obtained in ratings such as CDP, Clarity AI or Sustainalytics. It is also part of the FTSE4Good Index Series, a benchmark index in terms of sustainability.
Moody’s has upgraded the issuer rating and senior unsecured rating of Lenovo Group (00992.HK) to “Baa2” from “Baa3”, and has revised the outlook to “stable” from “positive”, according to China Securities Journal.
Currently, all three major international credit rating agencies have assigned a more positive investment rating to Lenovo Group. In addition to Moody’s, Fitch affirmed Lenovo’s rating at “BBB” with a “stable” outlook earlier, and S&P affirmed Lenovo’s rating at ‘BBB-‘ with a “positive” outlook in July 2021.
Moody’s said, “The rating upgrade reflects Lenovo’s improved credit profile in terms of leverage, driven by debt reduction and a higher level of EBITDA. We believe the company will sustain its improved credit profile through maintaining its leading market position in personal computers (PCs), supported by steady global demand for PCs. In addition, we expect the company’s continued disciplined financial management will help it to maintain its excellent liquidity and improve debt leverage.”
The rating upgrade followed Lenovo’s third-quarter earnings announcement for fiscal 2021/22, Securities Daily reported. Lenovo’s third-quarter performance improved significantly YoY, with revenue exceeding a historic US$20 billion, up 16% YoY to RMB128.7 billion, and net profit of RMB 4.09 billion, up 62% YoY, also a record high.
According to the data, Lenovo’s R&D expenses increased 38% YoY in Q3FY2021/22. The Group will continue to develop core technologies around the “New IT” full-stack architecture of “Client-Edge-Cloud-Network-Intelligence”, increase its investment in innovation, strive to double its R&D expenses within three years, and deeply promote service-oriented intelligent transformation. Looking ahead, the company remains focused on its 3S strategy (Smart devices/IoT, Smart Infrastructure, Smart Verticals) seeing continued opportunities for sustainable growth and profitability improvements across all areas of the business, keeping it on track to double net margin within three years (by the end of FY 2023/2024).
In addition, Hang Seng Indexes Co., Ltd. announced last month that Lenovo Group will be included as a constituent stock of the Hang Seng Indexes from March 7 on, becoming one of the “blue chip” companies in the Hang Seng Indexes.
Topic: Press release summary
Sectors: Daily Finance, Daily News
From the Asia Corporate News Network
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Today, the Honourable Dominic Leblanc, President of the Queen’s Privy Council for Canada and Minister of Intergovernmental Affairs, the Honourable Gary Crossman, Minister of Environment and Climate Change and Minister responsible for the Regional Development Corporation; and His Worship Roger Caissie, Mayor of Shediac, announced funding to renew and upgrade the town’s wastewater and water systems. Minister LeBlanc made the announcement on behalf of the Honourable Catherine McKenna, Minister of Infrastructure and Communities.
Shediac, New Brunswick, August 12, 2021—Today, the Honourable Dominic Leblanc, President of the Queen’s Privy Council for Canada and Minister of Intergovernmental Affairs, the Honourable Gary Crossman, Minister of Environment and Climate Change and Minister responsible for the Regional Development Corporation; and His Worship Roger Caissie, Mayor of Shediac, announced funding to renew and upgrade the town’s wastewater and water systems. Minister LeBlanc made the announcement on behalf of the Honourable Catherine McKenna, Minister of Infrastructure and Communities.
Working together, the Town of Shediac and the Greater Shediac Sewerage Commission will upgrade the sanitary, water and storm systems on Main Street, Grand Pré Street, Inglis Street and Dupuis Street. These upgrades will reduce the likelihood of overflow events at the lift stations, and will increase the capacity to treat and manage wastewater and stormwater., In addition, a new ultraviolet disinfection process will considerably improve the cleanliness of the town’s wastewater before its disposal in the Shediac Bay.
The Shediac Bay is one of Southeastern New Brunswick’s most extraordinary natural attractions. Tourists from all over Canada come to our region for its beautiful beaches. By investing in the quality and the health of the waters in the Shediac Bay, we invest in the vibrancy of our tourism sector while protecting our environment.
The Government of Canada is investing more than $2.9 million in this project through the Green Infrastructure Stream of the Investing in Canada program. The Government of New Brunswick is providing more than $2.4 million, while the Town of Shediac is contributing more than $1.9 million.
“This investment is key to ensuring the protection of Shediac Bay’s beautiful beaches. By upgrading the town’s wastewater infrastructure, we are investing in the health of our local ecosystems and our local economy.”
The Honourable Dominic Leblanc, President of the Queen’s Privy Council for Canada and Minister of Intergovernmental Affairs
“Investing in improved wastewater and drinking water facilities is an important part of delivering on our government’s priority to build vibrant and sustainable communities. We are pleased to partner with the federal and municipal governments to ensure preserve public health, protect the environment and equip Shediac with the infrastructure they need for population growth and economic recovery.”
The Honourable Gary Crossman, Minister of Environment and Climate Change and Minister responsible for the Regional Development Corporation
“This major investment in infrastructure renewal at the town’s main entrance supports growth in Shediac. The work will allow for continued development in Shediac’s west end and help bring environmental benefits.”
His Worship Roger Caissie, Mayor of Shediac
Office of the Minister of Infrastructure and Communities
Regional Development Corporation
In 2017, NEC Corporation (TSE: 6701) announced its climate change policy guidelines for 2050(1), aiming to reduce CO2 emissions from its direct business operations to become carbon neutral by 2050.
In order to accelerate climate change measures, NEC upgraded its greenhouse gas reduction target from the previous 33% reduction from the baseline emission in FY2017 to a 55% reduction by FY2030. This revised target was validated by the Science Based Targets initiative (SBTi)(2) as being consistent with reductions required to keep global warming to 1.5degC. The target is one of the “materialities,” priority management themes from an ESG perspective, outlined in NEC’s Mid-term Management Plan 2025.
In line with this enhanced target, NEC joined RE100(3), which strives to significantly expand the adoption of renewable electricity, and Japan Climate Leaders’ Partnership (JCLP), a coalition of businesses seeking to advance the goals of decarbonisation and sustainable business. NEC is now dedicated to procuring 100% of annual electricity from renewable sources by 2050.
NEC envisions its future as “Living harmoniously with the earth to secure the future” in the “NEC 2030VISION.” As part of this, NEC will work with a wide range of stakeholders to realize a decarbonized society.
(1) Formulation of climate change policy guidelines aimed at 2050
(2) Science Based Targets initiative:
An initiative jointly established by the United Nations Global Compact, the World Resources Institute (WRI), and other organizations in 2015. It encourages companies to set GHG emission reduction targets consistent with science-based evidence to the level required by the Paris Agreement, validating targets that comply with criteria including indirect emissions not only within the company but also in the supply chain.
A collaborative global initiative of influential businesses committed to 100% renewable electricity. It is led by The Climate Group in partnership with CDP. The Japan Climate Leaders’ Partnership (JCLP) has supported the participation of Japanese companies as a regional partner.
About NEC Corporation
NEC Corporation has established itself as a leader in the integration of IT and network technologies while promoting the brand statement of “Orchestrating a brighter world.” NEC enables businesses and communities to adapt to rapid changes taking place in both society and the market as it provides for the social values of safety, security, fairness and efficiency to promote a more sustainable world where everyone has the chance to reach their full potential. For more information, visit NEC at https://www.nec.com.
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