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Tuya's Commitment to Sustainability Recognized with 'AA' ESG Rating

Tuya Inc., a leading global AI cloud platform service provider, recently announced a noteworthy milestone: it has been elevated from an 'A' to an 'AA' rating in the Environmental, Social, and Governance (ESG) assessment conducted by MSCI. This recognition highlights Tuya's ongoing dedication to building a responsible and sustainable business framework.

MSCI, a renowned provider of research-driven indices, evaluates companies across various sectors, focusing particularly on their ESG performance. In its latest assessment for the Software Services industry, Tuya stood out for its exemplary handling of crucial issues including data privacy, security measures, governance practices, and energy efficiency initiatives through innovative smart technology solutions. This upgrade positions Tuya among the frontrunners in the ESG landscape within its sector.

The founder and CEO of Tuya, Xueji (Jerry) Wang, expressed his satisfaction with this achievement, stating, "We are pleased to receive MSCI's recognition of our ESG progress. Sustainability is intertwined with our operations and innovation strategies. We are committed to bolstering our ESG principles further, aiming to create lasting value for our stakeholders while contributing to a greener and more secure smart future through effective technology."

MSCI's ESG Ratings provide investors with an insight into how effectively companies manage long-term risks and opportunities associated with their environmental and social practices. The ratings range from AAA, indicating the highest performance, to CCC, denoting the lowest. Furthermore, they serve as essential benchmarks for investors keen on sustainable and responsible investing.

Tuya, operating under the ticker symbols NYSE: TUYA and HKEX: 2391, has been carving its path in the digital landscape, with the mission of developing an AIoT (Artificial Intelligence of Things) ecosystem that enables everything to become smarter. The company has spearheaded efforts to create a dedicated AI cloud platform equipped with generative AI capabilities, delivering a comprehensive solution suite that includes Platform-as-a-Service (PaaS), Software-as-a-Service (SaaS), and smart solutions tailored for developers.

In light of its achievements, Tuya has cultivated a dynamic and diverse global community of developers encompassing brands, OEMs, AI agents, system integrators, and independent software vendors. Together, they work towards fostering an ecosystem that embodies principles of sustainability, security, efficiency, agility, and openness. Their collaborative efforts focus on creating smarter solutions that largely contribute to the reduction of carbon footprints and promoting green technology.

Receiving the 'AA' ESG rating from MSCI not only reflects Tuya's hard work and dedication but also propels it toward its objectives of sustainable growth and positive social impact. As the world shifts toward more environmentally conscious and socially responsible business practices, Tuya is well-positioned to lead by example in the realm of smart technology and contribute significantly to global enhancement efforts.

Looking ahead, Tuya is set to reinforce its commitment to ESG practices, aspiring to navigate the evolving landscapes of global business while remaining firmly aligned with its sustainability goals. With technology at the forefront, Tuya aims to enhance its operational strategies, ensuring they remain supportive of long-term scenarios that benefit both the environment and society as a whole.

In conclusion, Tuya's upgraded ESG rating is not merely an accolade; it signifies the company's unwavering commitment to leading through innovation and responsibility, making remarkable strides that could serve as a model for peers in the industry. By aligning its business practices with sustainability goals, Tuya is enhancing its value proposition to stakeholders and advancing the agenda for a better, more sustainable future.