At the end of November 2022, the latest annual environment, social and governance (ESG) rating released by the International Authoritative Index Agency MSCI (Mingsheng) showed that RELX Placing (Mist Core Technology, NYSE: RLX) MSCI ESG rating rose from the CCC level jumper. Level 4 to A.

ESG is a popular evaluation system for measuring institutions in recent years. The original crime is probably exaggerated, but as a hobby, tobacco and alcohol are clearly excluded from ESG investment, and it should be rejected by "negative screening" vote.

Therefore, the large -scale rating of the domestic e -cigarette dragon company is very concerned.

According to the drafts released by various media on the Internet, the rating of the carved engraving is raised, which represents the high recognition of its capital market in terms of business ethics, minor protection, product safety and quality, supply chain labor standards, chemical safety and other performances, and chemical safety. Essence

The Tiger Sniff ESG group issued an interview invitation from Yuejun to be refused, and Yue Chou expressed his hope to keep it as low as possible.

In addition to the stories and stories

So what exactly is the real ESG situation?

The main reason for the improvement of the eSG rating is the improvement of corporate compliance. Let's see what efforts we have done. The following comes from the Yue Carved 2021ESG report.

Yue Ke pointed out in the report that only 1.5 of the average 1,000 research and development samples can pass layer of testing, eventually listed and sold, and zero -recall of products.

In addition to studying the product itself, Yuejun continuously explores the impact of electronic cigarettes on individual health and public health, especially the effects of long -term health. At present, Yueke has produced a small amount of scientific research results, such as publishing a paper in the SCI journal "Ecological Toxicology and Environmental Safety" to verify the role of electronic cigarettes at the level of lung cell level.

In terms of protecting minors, Yue Ke set up a complete system. First of all, it is compliant. Do not open stores around the school, sell product stores, do not sell to minors, and ban electronic cigarette automatic vending machines. It is also equipped with the "Xiangyanghua System" for the store to further verify the age and facial recognition of the seller's documents to ensure that only adults can buy electronic cigarette products. At the same time, Yueke used big data to quickly screen the order to determine whether the specialty store was sold to minors illegally. Once discovered, punishment was severely punished.

In terms of environmental protection, the carving advocates green low -carbon consumption concept. As of June 2022, the "empty bomb new life" recycling plan for waste air bombs has covered 188 cities across the country.

However, in a report of ESG or social responsibility, investors should pay more attention to the company that the company has said nothing, but nothing.

Yueke did not mention the core of self -evidence security.

One step that can prove its own security for the e -cigarette brand may be the PMTA regulatory certification of the US FDA. The US electronic cigarette market accounts for nearly 50%of the world, and PMTA certification is very authoritative.

Domestic electronic cigarette brands have a substantial progress in this step. Beride entered the PMTA substantive scientific review stage in January 2021, including 3 hardware and 6 smoke oil. The second round of review has been passed.

At that time, the response was that the PMTA application will be officially submitted to the FDA at the end of 2021. According to the current PMTA tracking news, any application has not been found.

Yueke did not mention opaque user growth.

Whether from the level of morality or politics, users of electronic cigarettes can only be replaced and should not be new. "Existing smokers" is the most secure group of benchmarks. However, electronic cigarettes are in a dilemma. The existing smokers are looking at it because of their taste, and non -smokers are eager to try because of their trend and curiosity, especially young people. This is the most criticism of the electronic cigarette industry. It touched the regulatory and the public's inverse scales.

Yueke did not mention the effectiveness of the Xiangyanghua system.

The system of protecting minors seems to be complete. In fact, it is not to prevent the gentleman from preventing the gentlemen. Many non -formal channel transactions are invincible and are difficult to avoid gray areas. Moreover, the traceability system of "one thing, one yard" was originally the requirements of the "Administrative Measures for Electronic Cigarettes".

ESG dilemma of the electronic cigarette industry

Not only is it pleased, the entire electronic cigarette industry is still difficult in ESG practice.

Although some countries support traditional tobacco users to suck electronic cigarettes. For example, New Zealand, young people born after 2008 may "ban smoking" for life, but do not limit electronic cigarettes. The reason is that the New Zealand government believes that the harm of electronic cigarettes is smaller and can help smokers to quit smoking.

But the mainstream attitude is still negative.

The World Health Organization warned the danger of electronic cigarettes many times. It is particularly emphasized that because the e -cigarette listing time is short, there is not enough data to show its impact on health, especially long -term impact. In addition, more and more evidence shows that young and non -smokers using electronic cigarettes have doubled the chance of smoking in future life.

In addition to the existing tightening regulatory policies in China, the WHO in the "Report on Global Tobacco Popularity" in 2021, especially about electronic cigarettes to the regulators of various countries: to protect the smoking ban on society and the corporate community, prevent the tobacco industry from preventing the tobacco industry from the tobacco industry. Intervention in public health.

This is a strong response to the WHO for the research and development of next -generation low -risk products in the past ten years.

All electronic cigarette companies have tried to convince regulatory agencies to believe that electronic cigarettes are less harmful than traditional tobacco. In March 2022, a fierce game between the Korean Electronic Cigarette Company and the Ministry of Food and Drug Safety, but South Korea's largest tobacco company KT & G refused to join this crusade and felt that it was inappropriate to challenge government authority. KT & G has a huge electronic cigarette business. But as early as 2018, KT & G said that "the purpose of fully understanding the government's analysis of electronic cigarettes", "electronic cigarettes can also be classified as traditional cigarettes."

Public health authorities around the world, including FDA, believe that there are continuous risks of electronic cigarette products. Both tobacco products and electronic cigarettes pose a threat to health. The safest way is not to suck.

From the level of environmental protection, electronic cigarettes are not dominant. The WHO's report "Tobacco, poisoning our Planet" issued by the WHO in 2022 emphasized that cigarettes, tobacco tobacco, and electronic cigarette products have exacerbated plastic pollution.

Electronic cigarette itself is still a problem

In addition to Yueyan, large -scale tobacco companies including KT & G in South Korea, American Tobacco Company Philip Morris International (PM) and British and American Tobacco (BAT) have received beautiful scores on multiple authoritative ESG rating agencies. Although this is conducive to these companies won the public's respect and the confidence of investors, due to the particularity of the electronic cigarette industry, the public should not accept these rating results without criticism.

American economist David Henderson said that many companies engaged in corporate social responsibility are not out of faith, but more for the transfer of criticism of non -governmental organizations. The tobacco industry is especially.

The CEO of the Philip Morris International (PM) Geoffrey Bible clearly knows that the image of tobacco company's image and charity are not enough, and tobacco products themselves are the main problems.

PM's vice president of problem management and strategic and social responsibility David Nicoli emphasized that PM must pay attention to issues other than tobacco, such as child labor, human rights, and the formulation of corporate moral behavior rules to transfer the tobacco itself s attack.

Tobacco -controlled researcher Kenneth Warner once asked PM: What should tobacco companies do? PM's answer is: seeking the harm to reducing smoking, hoping to carry out responsible marketing to adults who are not known and willing, and respond to the scientific and public health circles.

Warner expressed doubt. He proposed that if the tobacco industry wants to truly fulfill its social responsibility, it should give up advertising and promotion, support the significant increase in consumption tax, transfer youth prevention plans to neutral institutions, and accept effective government supervision.

Obviously, whether electronic cigarettes are indeed better than that of traditional tobacco, the "demand" of social responsibility for the electronic cigarette industry should still be equivalent to traditional tobacco. At present, it is also clear that the adventure of the new business of coffee should also be very clear. The fundamental problem that ESG rating cannot be covered up is still an electronic cigarette product itself.