GGRAsia – S&P ranks Sands China in top 1pct China firms for ESG

S&P ranks Sands China in top 1pct China firms for ESG

Jul 28, 2023 Newsdesk Latest News, Macau, Top of the deck

Macau casino operator Sands China Ltd says it has been assessed in the top 1 percent of an S&P Global Ratings ranking for China corporations in terms of environmental, social and governance (ESG) performance.

Sands China – controlled by United States-based Las Vegas Sands Corp – said in a Thursday press release that in S&P Global’s mainland China, Hong Kong, and Macau rankings on that topic, 1,600 companies drawn from an aggregate of 60 industries were considered. Only 88 companies from across a total of 44 industries were selected.

Sands China runs a number of Cotai resorts, including the Venetian Macao, the Parisian Macao, and the Londoner Macao. It also operates casino-hotel Sands Macao on the peninsula.

Firms were evaluated based on their ESG performance in S&P Global’s 2022 Corporate Sustainability Assessment.

The financial institution’s Corporate Sustainability Assessment is compiled annually and covers the sustainability practices of over 10,000 companies from around the world. It focuses on sustainability criteria specific to each industry, and which are “financially material,” said Sands China’s statement.

From among the companies assessed by the Corporate Sustainability Assessment, only those performing in the top 15 percent of their industries are included in a compendium called the S&P Global Sustainability Yearbook. This year was the first time that S&P produced a China edition of its Sustainability Yearbook.

Wilfred Wong Ying Wai, president of Sands China, was cited in the Thursday announcement as saying: “Sands China’s long-standing commitment to corporate social responsibility is something we are very proud of, and this latest recognition by S&P Global is a welcome acknowledgment of the success of our ESG efforts.”

The 2023 yearbook also covers Sands China and its parent in a global ranking for environmental, social and governance performance. The Macau unit made it into the top 10 percent worldwide, and Las Vegas Sands was assessed as being in the top 1 percent worldwide, of the 42 companies looked at in terms of global reputation.