JL MAG Earns Spot in S&P Global's China Sustainability Yearbook

On July 16, S&P Global, one of the world's leading rating agencies, released the “Sustainability Yearbook 2024 (China Edition)”. JL MAG Rare-Earth Co., Ltd. was successfully selected into the Yearbook for its outstanding sustainability performance.

This year marks the 20th consecutive year of S&P Global's “Sustainability Yearbook” publication, and the second year of its release of the “Sustainability Yearbook (China Edition)” which focuses on China market. As an authoritative guide for measuring corporate sustainability performance, the Sustainability Yearbook (China Edition) uses the results of S&P Global's Corporate Sustainability Assessment (CSA) as its selection criteria, evaluating companies' sustainability performance based on a series of industry-specific economic, environmental, and social standards. Since the selection process began, over 1,700 Chinese companies from 62 industries have participated in the assessment, and about 120 Chinese companies were ultimately included in the Sustainability Yearbook 2024 (China Edition) with CSA scores ranking in the top 15% of their respective industries.

The S&P Global Corporate Sustainability Assessment is one of the longest-standing and largest global corporate sustainability assessments. The CSA score generated from this assessment also form a fundamental basis for S&P Global ESG score. JL MAG's S&P Global ESG score of 44 was rated as “Very High” with leading position in the industry worldwide.

JL MAG has always placed a high emphasis on ESG development. For years, the Company has been providing high-performance rare earth permanent magnets for environmentally friendly industries including new energy vehicles (NEVs), energy-efficient variable frequency air conditioners (VFACs), wind power generation, 3C products, robotics and industrial servo motors, energy-saving elevators, and rail transit. By fully leveraging the energy-saving properties of its products, JL MAG helps reduce electricity consumption in various types of motors in the industries above. In 2023 alone, the Company's high-performance NdFeB permanent magnets helped reduce carbon emissions by approximately 34.02 million tonnes per year in the fields of NEVs, energy-efficient VFACs, and wind power generation. Moreover, the Company’s recycled rare earth raw materials accounted for 29.4% of total rare earth raw material usage last year. JL MAG is also actively promoting use of green power by investing in “rooftop photovoltaic power station” projects, driving carbon reduction and neutrality at both the Group and product levels.

Looking ahead, JL MAG will continue to increase its efforts in product innovation and R&D, further promote energy efficiency and reduce carbon emissions, and strive to achieve carbon neutrality. The Company aims to take practical actions to realize its mission of “Better Life with Rare Earths” and help drive transition towards low-carbon, intelligent, and electrified society.