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Sustainable Fitch Assigned NaaS Technology the Highest ESG Entity Score in China of 76 and Rating of '2'

22 September 2023

BEIJING, Sept. 22, 2023 /PRNewswire/ -- NaaS Technology Inc. (NASDAQ: NAAS), the first U.S. listed EV charging service company in China, is assigned by Sustainable Fitch the highest ESG entity score in China of 76, and an ESG Entity Rating of '2'. It ranks second in Asia and fifth worldwide, among the total 87 enterprises evaluated globally. The enterprises come from six industries, namely Electric-Corporate, Energy (Oil & Gas), Natural Resources, Power, Power Markets & Generation and Utilities (Non US).

Sustainable Fitch's ESG Ratings indicate an entity's performance, commitment, and integration of environmental and social considerations into its business, strategy and management, and the effectiveness of governance. The ratings are provided on a scale of '1' to '5', with '1' being the best.

NaaS' rating of '2' reflects the company's overall good ESG performance and the close integration of ESG considerations into its business, strategy and management. NaaS has also set targets to reduce its Scopes 1 and 2 emissions by 42% by 2030 compared to 2022 and committed to reducing its Scope 3 emissions in the near term, which were validated by the Science Based Targets initiative in 2023.

As a leading EV charging service provider, NaaS has consistently contributed to the uptake of EVs and transition to a low-carbon transport economy. Therefore, its business activities are positive from both an environmental and social perspective. In H1 2023, NaaS has reduced carbon emissions by 1,463,000 tons, an YoY increase of 109%.

On top of the environmental-friendly nature of the new energy service industry, NaaS is also actively integrating environmental and social considerations into their growing business activities regionally and globally, in areas of distributed solar photovoltaic, energy storage, renewable energy procurement and autonomous charging robots, which are mostly enabling activities for climate change mitigation.

With Ms. Yang Wang, the founder & CEO, as a role model, NaaS also fosters the development of female employees in all aspects and pays attention to their well-being as it provides both female and male employees with equal opportunities. The Company also actively promotes exchanges among female leaders worldwide.

Started trading on Nasdaq since June 13, 2022, NaaS provides one-stop EV charging solutions to companies along the EV charging industry value chain, including EV charging station operators, charger manufacturers and EV original equipment manufacturers. As of June 30, 2023, more than 62,000 charging stations and 652,000 chargers were connected and accessible on NaaS' network.

NaaS' unremitting efforts in ESG commitment and integration are also well recognized by broad social indicators and awards, including "TOP 10 Companies with Most Investment Value in 2023 for Carbon Neutralization", "2022 Social Responsible Enterprises", "2021 Pioneer Enterprise for Carbon Neutralization", etc.. Its parent company NewLink has been invited twice to share their practices in energy digitalization and experiences in carbon emission reduction on the 26th and 27th Conference of the Parties (COP) to the United Nations Framework Convention on Climate Change.

With the vision to "Empower the World with Green Energy", NaaS is committed to reducing China's transportation energy sector carbon emissions by 10% from the level in 2022 through innovative technologies, products and models, reducing the carbon emissions of China by 1% towards the goal of "Carbon Peaking and Carbon Neutrality".

Amidst the global low-carbon transformation trend, NaaS aims to establish a more robust ESG management framework based on its core business. The Company remains committed to strengthening its ESG governance and continuously driving sustainable development for global community, contributing to NaaS' mission "to improve the stability and efficiency of the global transport energy network".

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