TECO Granted AA Rating in MSCI ESG Evaluation


TECO Electric & Machinery Co., Ltd. has been granted AA rating, up from previous A rating, on top 15% list among global peers, in the latest ESG (environmental, social, governance) evaluation by Morgan Stanley Capital International (MSCI), publicized in April 2023. 

The MSCI report points to the good operation of TECO's board of directors and independence of independent directors living up to the expectation of investors. In addition, the company's global production bases have all passed ISO14000 environmental-protection certification. In the evaluation, TECO shows most progress in social and governance aspects. There is minimum risk for occurrence of negative influence in the aspects of corporate governance and environmental management for the company, according to the evaluation report.

The MSCI ESG evaluation is based on the analysis of the evaluated company's exposure to sustainability risk and opportunity and determines scores for various indicators according propriety of management in various aspects, the higher the rating, the lower the corporate risk.    

The MSCI ESG rating is another acknowledgement for TECO's remarkable performance in sustainability, as a result of which it has been included in DJSI Emerging Markets Index in 2022 for the third year in a row and covered by 2023 Sustainability Yearbook of S&P Global for the third straight year. In line with its high regard for sustainability and corporate governance, TECO has pledged to halve emission by 2030 in a 10-year program, in order to materialize the corporate vision of "energy conservation, emission reduction, intelligence, and automation."