stc group advances to 'A' in MSCI ESG ratings, strengthening global sustainability position
stc group is now among the top 31% of telecom companies worldwide to receive an 'A' rating, out of a total of 62 telecom companies ranked by MSCI. This ranking reflects the group's consistent progress in embedding sustainability, governance, and transparency across its operations.
In the MSCI report, findings on stc group's improvements highlighted strengths in data privacy and cybersecurity. This included a comprehensive framework for external IT audits, robust emergency response protocols, and continuous oversight at the highest levels of the group's digital infrastructure. The data protection strengths extended across stc's supply chain and tailored training for employees and contractors.
Commenting on the ranking, Olayan Alwetaid, stc group's CEO remarked: 'This upgrade reflects stc group's sustainable growth and strong commitment to the highest ESG standards. It also recognizes our leading role and our positive contribution to advancing sustainability and transparency globally.'
It is noted that the classification of the stc group in the MSCI index has witnessed rapid increases in recent years, as the group has been keen to enhance its efforts related to environmental protection, social responsibility, data security, and privacy. This is through adopting the best local and international standards and practices, employing sustainable technologies and innovative digital solutions, and empowering individuals and communities, along with adhering to the highest standards of integrity and transparency in all its practices.
stc group is a digital enabler, offering advanced solutions and driving a role in the digitalization process. The group provides a comprehensive suite of services encompassing digital infrastructure, cloud computing, cybersecurity, Internet of Things (IoT), digital payments, digital media, and digital entertainment. The group comprises 13 subsidiaries across the Kingdom of Saudi Arabia, the Middle East, North Africa, and Europe.
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