Lotus Technology Inc. received the Green Apple Environment Award for sustainability initiatives, enhancing eco-friendly practices in its operations.
Quiver AI Summary
Lotus Technology Inc. has received the Green Apple Environment Award in recognition of its commitment to sustainable environmental practices, as presented by The Green Organization at Kensington Palace in London. This award highlights the company's dedication to ecological preservation and sustainable development, marked by its innovative pilot project on natural capital assessment, which addresses nature-related risks in its supply chain. Lotus Tech is increasing its use of recycled materials and green energy in collaboration with suppliers. The company's efforts were also featured in the Shanghai Climate Week report released during COP29, and it was named a finalist for the Sustainability Award at the British Business Awards 2024. Lotus Tech focuses on luxury battery electric vehicles and advancing next-generation automobility technologies across the UK, EU, and China.
Potential Positives
- Lotus Technology Inc. was awarded the Green Apple Environment Award, highlighting its commitment to sustainable environmental practices and enhancing its reputation in corporate social responsibility.
- The company initiated an industry-pioneering pilot project on natural capital assessment, demonstrating innovation in identifying nature-related risks and opportunities, which sets a precedent for others in the industry.
- Lotus Tech's supply chain initiatives, including the increased use of recycled materials and green energy, received recognition in a significant report released during COP29, amplifying its visibility in global climate discussions.
- The company was recognized as a finalist for the Sustainability Award at the British Business Awards 2024, reinforcing its dedication to responsible business operations and sustainability goals.
Potential Negatives
- Despite receiving the Green Apple Environment Award, the press release does not provide specific metrics or outcomes demonstrating the actual impact of Lotus Tech's sustainability initiatives, which could raise questions about the effectiveness of their efforts.
- The company’s focus on increasing recycled materials and green energy use in supply chains may imply that previous practices were less sustainable, potentially damaging their image as a luxury and environmentally responsible brand.
- While being recognized as a finalist for the Sustainability Award is positive, it may suggest that Lotus Tech is still in the early stages of its sustainability journey compared to other competitors who may have already fully integrated sustainable practices into their operations.
FAQ
What is the Green Apple Environment Award?
The Green Apple Environment Award recognizes companies for their commitment to sustainable environmental practices and corporate social responsibility.
Where was the Green Apple Environment Award presented?
The award was presented at Kensington Palace in London, a historic royal abode.
What initiatives did Lotus Tech undertake for sustainability?
Lotus Tech initiated a pilot project on natural capital assessment and improved sourcing of recycled materials and green energy.
What recognition has Lotus Tech received for its sustainability efforts?
Lotus Tech was recognized as a finalist in the Sustainability Award of the British Business Awards 2024.
How can I learn more about Lotus Tech’s ESG strategy?
You can download Lotus Tech's ESG report to learn more about their environmental, social, and governance strategies and achievements.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$LOT Hedge Fund Activity
We have seen 5 institutional investors add shares of $LOT stock to their portfolio, and 11 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- HSG HOLDING LTD added 5,128,092 shares (+inf%) to their portfolio in Q3 2024
- SCULPTOR CAPITAL LP removed 458,323 shares (-100.0%) from their portfolio in Q2 2024
- HRT FINANCIAL LP removed 95,381 shares (-100.0%) from their portfolio in Q2 2024
- TIDAL INVESTMENTS LLC added 79,337 shares (+inf%) to their portfolio in Q3 2024
- JANE STREET GROUP, LLC removed 13,916 shares (-100.0%) from their portfolio in Q3 2024
- LMR PARTNERS LLP removed 13,367 shares (-100.0%) from their portfolio in Q2 2024
- STATE STREET CORP added 11,533 shares (+inf%) to their portfolio in Q3 2024
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
NEW YORK, Nov. 29, 2024 (GLOBE NEWSWIRE) -- Lotus Technology Inc. (“Lotus Tech” or “the Company”) (Nasdaq: LOT), a leading global intelligent and luxury mobility provider, was awarded the Green Apple Environment Award for its commitment to sustainable environmental practices.
The Green Organization, an independent, non-political, and non-profit environmental group since 1994, is dedicated to recognizing, rewarding, and promoting environmental best practices and corporate social responsibility around the world. Lotus Tech was presented with the Green Apple Environment Award at Kensington Palace, a historic royal abode in London. This award is a testament to Lotus Tech's unwavering commitment to ecological preservation and sustainable development.
Lotus Tech initiated an industry-pioneering pilot project on natural capital assessment, identifying nature-related risks and opportunities across its procurement, assembly, and manufacturing processes. Based on the findings, Lotus Tech has worked with its suppliers to drive further changes in raw materials sourcing, including the increase of recycled materials and green energy use.
These supply chain initiatives of Lotus Tech were also spotlighted in the Shanghai Climate Week's annual flagship report, ClimateTech In Focus , jointly developed with United Nations Institute for Training and Research (UNITAR) and Pacific Economic Cooperation Council (PECC) and released on COP29 in Nov 2024.
Lotus Tech also received recognition for its dedication to responsible business operations as a finalist of the Sustainability Award of the British Business Awards 2024. This demonstrates the company’s environmentally conscious approach to achieving its sustainability goals.
To learn more about Lotus Tech’s ESG strategy and achievements, download the ESG report here: https://ir.group-lotus.com/environmental-social-governance
About Lotus Technology Inc.
Lotus Technology Inc. has operations across the UK, the EU and China. The Company is dedicated to delivering luxury lifestyle battery electric vehicles, with a focus on world-class R&D in next-generation automobility technologies such as electrification, digitalisation and more. For more information about Lotus Technology Inc., please visit www.group-lotus.com .
Contact Information
ir@group-lotus.com
/Microsoft%20Corporation%20logo%20on%20sign-by%20Jean-Luc%20Ichard%20via%20iStock.jpg)
/Micron%20Technology%20Inc_%20logo%20on%20building-by%20vzphotos%20vis%20iStock.jpg)
/Alphabet%20Inc_%20and%20Google%20logos%20seen%20displayed%20on%20a%20smartphone%20by%20IgorGolovniov%20via%20Shutterstock.jpg)
/Phone%20and%20computer%20internet%20network%20by%20Pinkypills%20via%20iStock.jpg)
