Photovoltaic Company JinkoSolar Sets Milestone With Net-Zero Targets Validation: Details
Portfolio Pulse from Lekha Gupta
JinkoSolar Holding Co Ltd (NYSE:JKS) announced that it is the first PV company to have its Net-zero targets validated by the Science Based Targets initiative (SBTi). Jinko Solar Co., Ltd., its principal subsidiary, had its near and long-term emissions reduction targets approved by SBTi, which will publish the net-zero target on January 25, 2024. JinkoSolar is the second company in mainland China and third in the global semiconductor industry to achieve this status. In Q4 2023, JinkoSolar delivered over 200 GW of solar modules. However, JKS shares dropped by 1.12% to $37.00.
December 29, 2023 | 2:52 pm
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NEUTRAL IMPACT
JinkoSolar Holding Co Ltd (NYSE:JKS) has achieved a significant milestone in corporate responsibility by becoming the first PV company with Net-zero targets validated by SBTi. Despite this positive development, the stock price has seen a short-term decline.
The validation of Net-zero targets by SBTi is a positive step for JinkoSolar's corporate responsibility and environmental commitment, which could attract investors focused on sustainability. However, the immediate impact on the stock price is negative, as indicated by the 1.12% drop. This could be due to broader market conditions or investor sentiment not fully reflecting the long-term benefits of the company's sustainability efforts. The score is neutral because the short-term market reaction is negative, but the long-term outlook could be positive.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100