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Manila Bulletin devider Business devider The Stock Market devider SMIC named among top ESG companies

SMIC named among top ESG companies

Published Mar 8, 2023 06:48 am
SM Investments Corporation was named among the top  companies globally and in the Asia Pacific in a 2023 Top-Rated ESG Companies list by international ratings firm Morningstar Sustainalytics. In a statement, the firm said it was among the Top Rated companies in its industry (Diversified Financial) globally and also among Top Rated companies in the Asia Pacific. In February 2023, SM Investments received an ESG Risk Rating of 13.3 and was assessed by Morningstar Sustainalytics to be at Low Risk of experiencing material financial impacts from ESG factors. The rating means SM Investments belongs to the strongly performing 6.7 percent of companies with the lowest ESG risk score within its defined peer group. “We are honored to be cited by Morningstar Sustainalytics which reflects our commitment and initiatives towards sustainability, particularly good governance and risk management,” SM Investments Corporation President and CEO Frederic C. DyBuncio said. He noted that, “In this period of global uncertainty, it is important for us to affirm our investors’ and stakeholders’ confidence in the company as a stable, sustainable and responsible proxy for Philippine development and growth.” At SM, actions adopted to mitigate risks include investments in technology, continuous training for personnel, regular audits and implementation of policies across the organization. Moreover, the group’s strong adherence to corporate governance, customer-focused innovation, financial prudence and attention to its sustainability strategies and progress, are vital to managing specific ESG factors. Morningstar Sustainalytics is a leading global provider of ESG research, ratings and data. Its ESG Risk Ratings measure a company’s exposure to industry-specific material ESG risks and how well a company is managing those risks. The ESG Risk Ratings cover more than 15,000 companies across 42 industries. ESG or Environmental, Social and Governance is a framework that helps stakeholders understand how an organization is managing risks and opportunities related to environmental, social, and governance criteria.
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