We understand and recognize the importance of our Environmental, Social and Governance (ESG) impact. We remain committed in our mission to further simplify and streamline our company structure as we continue to become an even more transparent organization.
We realize that our customers seek to work with a partner that adopts sustainable working practices and remains committed to making a positive social and environmental impact. We have started various sustainability initiatives group-wide and are currently extending the ESG reporting on a group level. Going forward, we will set a number of quantitative targets to measure our success in the years ahead. To help us achieve this, the position of “Group ESG Manager” was established. We continue our ESG journey to unlock a more diverse and sustainable future.
In line with being an environmentally-friendly and diverse organization, it is more important than ever before to build trust with our existing and potential investors. By putting eco-friendly initiatives into action, we are leading the way in delivering a greener society. This includes the installation of sustainable solar photovoltaic panels on the buildings of S&T Group companies Kontron AIS and Iskratel. This is in addition to the installed panels at our headquarters in Linz, where it is estimated that a quarter of our annual power will be exclusively solar powered. In particular, S&T Austria relies 100 percent on renewable energy as we continue in our efforts to achieving greater levels of sustainability. We have also proactively taken the initiative to update our corporate fleet as well as our buildings, by introducing four new electric SUVs for our gradual conversion to sustainable transport, with even more vehicles ordered for the future.
In conjunction with our sustainability efforts, we remain heavily focused on our ESG initiatives that have resulted in the award of an improved MSCI ESG rating by two notches from B to BBB. As part of our three-year step-by-step ESG plan, we have significantly increased the number of female representatives in our Supervisory board to 40% and launched a number of programs intended to encourage more women to embark on careers in technology. As an IoT solutions provider, we ensure that all of our solutions have eco-friendly processes. For example, S&T Group company Kontron has developed a robust Artificial Intelligence (AI) platform that is specifically designed to reduce waste and environmental impact.
Diversity is of critical importance to us, and individuality of our employees in conjunction with equal opportunities and respect for age, religion, gender and race, form our corporate culture. We promote a corporate culture that promotes inclusion and respect among our employees.
With a diverse mix of employees within the Group, it is our aim to transfer our knowledge by exchanging ideas and information between all of us groupwide and learn from each other. We provide our staff with many opportunities and the ability to take on new challenges. Besides ongoing training in the areas of technology, security and compliance, the S&T Group Leadership Academy was introduced to prepare and educate our leaders of tomorrow. Moreover, together with an external consultant, we recently conducted our first group-wide employee survey to obtain feedback on a group level and continue to improve as an employer.
Our step-by-step ESG plan will be continued and further expanded upon going forward with the annual release of details on our recurring revenues. To help achieve greater levels of transparency, and as part of our long-term plan, we will adhere to the imperative UN Global Compact principles, which include guidelines on human rights, labor and environmental impact for ethical and moral credibility.