Listed firm Nickel Asia Corp. (NAC) has boosted its environmental, social and governance (ESG) performance this month based on the latest assessment by external ESG rating partner, Sustainalytics.
NAC said it scored an ESG risk score of 33.6 during the December 2022 to February 2023 assessment period from the previous rating of 43.7.
The latest assessment covered more than 70 management ESG performance indicators while the previous rating released in July last year was assessed through publicly available disclosures and followed Sustainalytics’ core framework that included 30 ESG indicators.
With the results, NAC now ranks 54th out of 210 firms assessed by Sustainalytics under the diversified metals category and 37th out of 174 firms under the diversified metals mining sub-industry.
It also elevated the NAC to the high-risk category from an earlier severe risk category. This means its risk scores improved to a range between 30 and 40 from a risk score of above 40.
According to Jose Bayani Baylon, NAC senior vice president for sustainability, risk, corporate affairs and communications, this “put us on the right track on our journey to achieving our ambitious goal of becoming the premier ESG investment in the Philippines and among the top 25 in market capitalization of the listed companies in the Philippine Stock Exchange.”
Sustainalytics also recognized NAC’s strong performance in occupational health and safety and deemed “above industry average” in terms of business ethics indicators that include whistleblower programs and transparency on government payments.
NAC was given an ESG risk management score of 51.2 which is higher than the diversified metals industry average management score of 39.4.analytics.
