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JL MAG Rare-Earth Co., Ltd. Ranks Among the Top in the Industry in S&P Global ESG Rating

JL MAG Rare-Earth Co., Ltd. Ranks Among the Top in the Industry in S&P Global ESG Rating

Recently, one of the world's major rating agencies, S&P Global, announced the S&P Global ESG Rating for 2023. JL MAG Rare-Earth Co., Ltd. achieved a score of 44, which was rated as "very high" by S&P, leading the global industry.

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The rating score is based mainly on the results of the S&P Corporate Sustainability Assessment (CSA). The CSA is one of the largest annual assessments of corporate sustainability practices globally and consists of 62 industry-specific questionnaires. It quantitatively assesses companies' disclosure of information and performance in environmental, social, and governance aspects, providing a comprehensive reflection of their sustainability management level. In 2022, over 3,000 companies worldwide participated in the CSA questionnaire, with their market value accounting for more than half of the global total market value (based on the S&P Global BMI Index estimation).

 

JL MAG has always attached great importance to ESG development. Over the years, the company has provided high-performance rare earth permanent magnet materials for energy-saving and environmentally friendly industries such as new energy vehicles and auto parts, energy-saving inverter air conditioners, wind power, 3C, robotics and industrial servo motors, energy-saving elevators, and rail transit. These products effectively harness the energy-saving properties, helping to reduce power consumption in various motors. In 2022, the company's high-performance neodymium iron boron permanent magnet products contributed to a reduction in carbon emissions of approximately 37.82 million tons per year in the fields of new energy vehicles, energy-efficient variable frequency air conditioners, and wind power generation. Additionally, the company actively promotes green energy projects such as photovoltaics and wind power, investing in the construction of rooftop photovoltaic power stations and wind power projects, to achieve carbon reduction and carbon neutrality at both the group and product levels. Last year, the company also received the world's first SGS PAS 2060 Carbon Neutrality Declaration Verification Certificate in the rare earth permanent magnet industry.

 

In the future, JL MAG will continue to increase product innovation and research and development efforts, further improve energy efficiency, continuously reduce carbon emissions, and strive to achieve carbon neutrality. Through practical actions, the company aims to truly fulfill its mission of "Better life with Rare Earths" and contributes to the transformation of society towards low carbon, intelligence, and electrification.


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