“AA” excellent rating for Environmental, Social and Governance practices
Athens, Greece – 18 October 2023 – MYTILINEOS Energy & Metals (RIC: MYTr.AT, Bloomberg: MYTIL.GA, ADR: MYTHY US) (MYTILINEOS) joins the global elite of companies with high sustainability performance, securing the "AA" excellent rating for Environmental, Social and Governance (ESG) practices in the Morgan Stanley Capital International (MSCI) index.
This significant achievement came just one year after MYTILINEOS’ entry into the MSCI ESG index and demonstrates the high level of Sustainable Development practices applied by the Company.
Together with this distinction and the entry in the Dow Jones Sustainability (DJSI) Emerging Markets Index at the end of 2022, MYTILINEOS is now among the top companies leading the way in ESG best practices globally. MYTILINEOS Global Leadership position is confirmed through its presence in the top 10% of companies in its sector and in other internationally recognized ESG Raters such as: Sustainalytics, ISS Quality Score, S&P Global, Refinitiv, FTSE, EcoVadis, ESG Book, Bloomberg & Ideal Ratings.
According to MSCI's ESG assessment report, the company's rating upgrade is mainly driven by the following improvements:
a) Occupational Health & Safety management practices: To mitigate the relevant risks, the Company has set central accident reduction targets covering both direct and indirect employees and has a certified Health & Safety management system in accordance with ISO 45001 in almost all its production plants.
b) Corporate Governance practices: The company has an independent board majority and fully independent key committees, which can support the oversight of financial reporting and remuneration policies, strengthening management oversight.
c) Specialization and focus in "green" projects: The Company's construction divisions and part of its power generation activities are focused on building sustainable infrastructure and renewable energy projects, while also setting new targets for increasing clean technology investments (e.g. expansion of solar and wind power generation).
Commenting on this significant recognition, Dimitris Papadopoulos, Executive Director of Corporate Governance & Sustainable Development, stated: “Our rating upgrade to the LEADERS AA level, is a proof of the hard work, dedication and systematic effort of the entire Company to integrate Sustainable Development practices into all our activities, with the aim of creating long-term value for our Shareholders and other Stakeholders.”
ESG Ratings from MSCI ESG Research are designed to measure a company’s resilience to financially material ESG risks. The MSCI ESG rating is one of the most popular global indices valued in global capital markets. The rating results form an important basis for the Investment Decision-Making process among the Global Institutional Investors.