Aldar upgraded to ‘A' rating in MSCI ESG Rating assessment
Aldar has been upgraded to an 'A' rating in the latest MSCI ESG Rating assessment, placing the company in the top quartile of real estate companies tracked by MSCI globally.
The rating upgrade reflects the company's continued progress in strengthening its environmental, social, and governance practices across its operations in alignment with global sustainability standards.
MSCI is a leading global rating agency that evaluates companies' exposure to industry-specific ESG risks and their ability to manage those risks relative to peers. The ratings are widely used by investors to evaluate how companies manage long-term risk and an 'A' rating signals that the integration of ESG principles into the company's long-term strategy is having a tangible impact.
Faisal Falaknaz, Group Chief Financial and Sustainability Officer at Aldar, said, 'This upgrade reflects the significant strides we've made in embedding ESG as a core principle of how we do business across the group. As we continue delivering on our strategic growth roadmap, we remain committed to responsible value creation and transparency, ensuring we contribute positively to our stakeholders, the local economy, and the environment. Achieving an 'A' rating from MSCI is a strong endorsement of our actions and a motivating step to advance our position within the top quartile of our sector globally.'
Aldar's strongest increase in performance came from an improvement in governance practices, with the company's corporate behaviour score, measuring both business ethics and transparency, increasing by 2.1 points, reaching 8.3 out of 10. This is at the top end for the sector in EMEA emerging markets. The best-in-class corporate behaviour, in tandem with gains across environmental assessment category, drove the overall upgrade from MSCI.
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