scanning 318 listed automobile companies: over 30% disclosed esg information, with the passenger car industry being the most active
2024-09-10
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on september 9, the 20th monthly report of shell finance·china chengxin beautiful china esg index (hereinafter referred to as the "beautiful china esg index") and shell finance·china chengxin carbon neutrality 100 index (hereinafter referred to as the "carbon neutrality 100 index") was released. among them, beijing news shell finance and china chengxin jointly released the esg rating results of listed companies in the light manufacturing industry.
in the past four years, the proportion of sustainable development information disclosure in the automotive industry has been on the rise, but it is still lower than the average level of the entire industry. from 2021 to 2024, the main form of sustainable information disclosure in the automotive industry will change from social responsibility reports to esg reports. by 2024, esg reports (including separate disclosures and annual report disclosures) account for 62.6% of all forms of sustainable information disclosure, of which separate esg reports account for more than two-thirds.
in this monthly report, china chengxin green finance conducted esg ratings on 316 a-share and chinese-owned listed companies in the automotive industry. the results showed that the overall esg rating of the automotive industry was at a medium level, with no aaa or c ratings.
china chengxin green finance pointed out that the automotive industry involves a large amount of resource consumption and greenhouse gas emissions. therefore, energy management, greenhouse gas emissions, green development, etc. have become important issues in the environmental dimension of the automotive industry. achieving carbon neutrality is a global consensus. the automotive industry should continue to promote emission reduction technologies and actively adopt clean energy, thereby promoting a circular economy and reducing the negative impact on the environment during production and use.
esg-related reporting disclosure levels rise, secondary industry gaps emerge
the automobile industry is one of the important pillar industries in my country. traditional fuel vehicles emit a large amount of carbon dioxide and other greenhouse gases during operation, posing a major challenge to climate change and environmental protection. at the same time, the automobile industry chain is long, highly correlated, and covers a wide range of areas, so completing the green upgrade of the industrial structure is challenging.
in recent years, my country has successively issued and implemented a series of important policies covering areas such as stabilizing growth, promoting consumption, new energy vehicles, and intelligent connected vehicles, attaching importance to and promoting the stable and sustainable development of the automobile industry.
according to statistics from china chengxin green finance, as of june 30, 2024, there are 6,500 a-share and chinese hong kong-listed companies in 2024, and 3,160 of them disclosed esg-related reports in 2023. among them, there are 318 companies in the automotive industry, 123 of which disclosed esg-related reports, with a disclosure ratio of 38.68%.
the report shows that the proportion of sustainable development information disclosure in the automotive industry has been on the rise in the first half of 2021-2024, but it is still lower than the average level of the entire industry. in the first half of 2021-2024, the sustainable information disclosure rates of the automotive industry were 23.7%, 31.46%, 34.2% and 38.68% respectively. in comparison, the sustainable information disclosure rates of the entire industry were 39.8%, 42.5%, 43.5% and 48.62% respectively.
in terms of report types, the main form of disclosure of sustainable information in the automotive industry has shifted from social responsibility reports to esg reports. as of the first half of 2024, esg reports (including separate disclosures and annual report disclosures) accounted for 62.6% of all forms of sustainable information disclosure, of which separate esg reports accounted for more than two-thirds.
shell finance reporters noticed that the esg information disclosure rates of listed companies in the secondary industries of the automotive industry vary. according to relevant classification standards, the automotive industry can be divided into five secondary industries, namely passenger cars, motorcycles and others, automotive services, automotive parts, and commercial vehicles.
according to statistics from china chengxin green finance, as of june 30, 2024, the sustainable information disclosure rates of passenger cars, motorcycles and others, automotive services, automotive parts, and commercial vehicles reached 85.71%, 42.11%, 80.00%, 29.44%, and 82.35%, respectively.
statistics from china chengxin green finance show that among a-share and hong kong-listed chinese companies in the automotive industry, the top ten in esg performance in 2024 are fuyao glass, yinlun holdings, ninebot, weichai power, changan automobile, sinomach automobile, yapu holdings, great wall motors, byd, and huayu automotive.
class c accounts for nearly half, and there is much room for improvement in the environmental dimension
in this monthly report, china chengxin green finance conducted esg ratings on 316 a-share and chinese-listed companies in the automotive industry.
the results show that the overall esg rating of the automotive industry is at a medium level, with no aaa or c ratings. the top three esg ratings of the industry are bb, bbb and a, accounting for 42.7%, 39.9% and 12.3% respectively.
from different dimensions, the overall performance of the social and governance dimensions is slightly better than that of the environmental dimension. as of the first half of 2024, the top three levels of the automotive industry's environmental dimension are c, b, and bb, accounting for a total of about 87.1%; the top three levels of the social dimension are bbb, bb, and aa, accounting for a total of 85.5%; the top three levels of the governance dimension are a, bbb, and bb, accounting for about 93.1%.
the report shows that the automotive industry's overall performance in the environmental dimension is relatively low, with the c grade accounting for 49.4%, nearly half. the industry's overall esg performance in the environmental dimension has much room for improvement.
"the automotive industry involves a large amount of resource consumption and greenhouse gas emissions. therefore, energy management, greenhouse gas emissions, and green development have become important issues in the environmental dimension of the automotive industry." china chengxin green finance pointed out that through the analysis of various secondary indicators under the environmental dimension, it was found that most indicators scored below 40 points. achieving carbon neutrality is a global consensus. the automotive industry should continue to promote emission reduction technologies and actively adopt clean energy, thereby promoting a circular economy and reducing the negative impact on the environment during production and use.
in the social dimension, the automotive industry's employee development and communication scores are relatively high, with scores concentrated between 50 and 100. china chengxin green finance believes that most companies in the automotive industry currently pay attention to communication on employee development, customer rights protection, supply chain management, and supplier/subcontractor management should also receive more attention.
in terms of governance, listed companies in the automotive industry scored high in auditing, risk control and compliance management, and board of supervisors governance, with most of them scoring above 85 points. overall, most listed companies in the automotive industry attach great importance to the construction of board of supervisors governance, risk control and compliance management, and should continue to attach importance to investment in industry technological innovation in the future.
in august 2022, beijing news shell finance and china chengxin green finance jointly released the "2022 beijing-tianjin-hebei esg rating top 100 list" at the "beijing news shell finance summer summit", aiming to discover benchmark companies for esg development in the beijing-tianjin-hebei region and play a leading and exemplary role in the sustainable development of the beijing-tianjin-hebei region. beijing news shell finance and china chengxin green finance will continue to pay attention to the esg performance and dual-carbon development of listed companies in different regions and industries.
beijing news shell financial reporter xu yuting editor wang jinyu proofreader zhao lin
