EMSTEEL (the Group), one of the largest publicly traded steel and building materials manufacturers in the region, today announced that it has received a provisional ESG rating of “AA” from MSCI, one of the highest among steel players globally, recognising the Group as one of the few global steel and building materials manufacturers that stand out for their strong performance on Environmental, Social, and Governance (“ESG”) issues.
Reinforcing EMSTEEL’s position as one of the industry leaders in managing key ESG risks and opportunities, MSCI’s evaluation particularly highlights the Group’s efforts in managing its environmental impact through innovative responsible practices to abate carbon emissions, and enhancing well-being, health and safety practices for its workforce – with almost all categories significantly above the global average.
MSCI ESG Ratings evaluates over 9,000 companies worldwide, assessing their exposure to industry-material ESG risks and how well they manage them relative to peers. The ratings range from ‘leader’ (AAA, AA), average (A, BBB, BB) to ‘laggard’ (B, CCC). This score reaffirms the Group’s ESG leadership among its peers globally.
Eng. Saeed Ghumran Al Remeithi, Group CEO of EMSTEEL, said: “Our inaugural ‘AA’ ESG rating by MSCI is a powerful testament to EMSTEEL’s commitment to sustainable industrial leadership. It reflects the strength of our governance, the resilience of our people, and our deep-rooted responsibility to the environment and communities we serve. As we align with the UAE’s Net Zero 2050 vision, this recognition strengthens our resolve to lead by example, delivering lasting value to our shareholders, society, and future generations.”
