Latest news with #MorningstarSustainalytics
Kuwait Times
a day ago
- Business
- Kuwait Times
NBK achieves top-tier ESG ratings across MENA region
Prestigious recognition from leading global agencies KUWAIT: In recognition of its leadership in advancing sustainability and corporate responsibility across the MENA region, National Bank of Kuwait (NBK) has earned high distinctions from leading global ESG rating agencies, underscoring the Bank's unwavering commitment to environmental responsibility, social impact, and robust governance. In its latest assessment, Morningstar Sustainalytics improved NBK's ESG Risk Rating from 27.4 (medium risk) to an impressive 19.4 (low risk), reflecting the Bank's enhanced ability to manage material ESG risks. Concurrently, MSCI upgraded NBK's ESG rating from 'BBB' to 'A'—a notable leap that places the Bank firmly among the top five regional banks in ESG ratings. ESG rating agencies, such as Morningstar Sustainalytics and MSCI, play a critical role in evaluating how institutions manage sustainability-related risks and opportunities. These agencies assess companies across a range of criteria—including environmental impact, social responsibility, and corporate governance—to provide stakeholders and investors with transparent, data-driven insights into organizational performance. High ESG ratings not only promote accountability but also guide capital allocation and investment decisions, reflecting how well highly rated companies are positioned for long-term resilience and responsible growth. Commenting on NBK's achievement, Amir Hanna, Group Chief Communications Officer at NBK, stated: 'NBK's recognition through these prestigious ratings underscores its growing focus on championing sustainable finance and reinforcing sustainability risk management across the region. It also serves as a global testament to its sustained success. The Bank continues to make significant strides in integrating ESG principles into its corporate culture and operational framework, firmly establishing sustainability as a foundational pillar of its strategic agenda. Hanna highlighted that these ratings reflect NBK's continued momentum in implementing its comprehensive ESG strategy, which is anchored in four strategic pillars: Governance for Resilience, Responsible Banking, Capitalizing on our Capabilities, and Investing in our Communities. These pillars serve as a roadmap for integrating sustainability across the Bank's operations and delivering long-term value to shareholders, clients, employees, stakeholders, and the broader society. He further emphasized that NBK's growing commitment to sustainable finance remains a cornerstone of its progress in ESG governance. He also noted that the Bank's vision for sustainability extends well beyond its internal ecosystem, reflecting a steadfast commitment to community development. Across the markets in which it operates, NBK continues to drive meaningful impact, particularly through its focus on education, healthcare, youth empowerment, and expanding access for all segments of society to benefit from its initiatives. Green bonds NBK's landmark issuance of the first Green Bonds by a Kuwaiti institution in 2024, valued at $500 million, stands as a clear testament to the strong confidence investors place in the Bank, as well as the alignment of its sustainability strategy with international standards for transparency and accountability. Through its Green Bond Allocation and Impact Report, NBK provided clear and credible insights into the deployment of proceeds, which were directed toward initiatives such as renewable energy, green buildings, and clean transportation—delivering tangible environmental outcomes including lower carbon emissions and enhanced energy efficiency. Measuring the bank's carbon footprint In addition to financing sustainable projects, NBK has aligned its operations with key international climate frameworks. It became the first bank in Kuwait to sign the Partnership for Carbon Accounting Financials (PCAF), a major step in measuring and disclosing the carbon footprint of its lending and investment portfolios. The Bank also continues to implement the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD), embedding climate-related considerations into its governance structures, risk management, and strategic decision-making and has recently published its first TCFD report. In terms of NBK's environmental footprint, a target was set to reduce 25 percent of the Bank's operational emissions by 2025. As of 2024, NBK exceeded this target with a 28.3 percent reduction in operational emissions. A comprehensive framework NBK's commitment to sustainability is further reinforced by the implementation of a comprehensive Environmental and Social Risk Management (ESRM) framework, which integrates ESG considerations into to the Bank's risk management practices. This framework plays a critical role in identifying and mitigating environmental and social risks not only in credit assessments but also in project financing, investment decisions, and client engagement. By embedding ESG principles into its risk management and governance processes, NBK ensures that its activities consistently align with sustainable development objectives and uphold the highest standards of responsible banking. Equity & inclusion On the social and governance fronts, NBK has made significant strides in fostering an inclusive and equitable corporate culture. Through the publication of its Diversity, Equity & Inclusion (DE&I) Statement, NBK reaffirmed its pledge to build a diverse workforce and promote inclusive leadership. NBK continues to lead in championing women's empowerment through targeted leadership programs, most notably NBK RISE, a dedicated initiative designed to support the advancement of women in leadership roles. Moreover, the Bank continues to reinforce its commitment through mentorship opportunities, and inclusive workplace polices, solidifying its position as a regional model for the best-in-class organizational practices. By embedding ESG principles into the heart of its corporate strategy, NBK continues to enhance its resilience, elevate risk management, and unlock new opportunities for sustainable growth. The Bank's progress reflects not just adherence to global standards, but a proactive drive to lead the financial sector's transition toward a more sustainable and inclusive future. Looking ahead, NBK remains committed to advancing its ESG performance through innovation, transparency, and stakeholder engagement. It will continue to invest in sustainable solutions, adopt evolving international frameworks, and champion environmental and social progress across the region. With strong governance foundations, measurable impact, and a forward-looking approach, NBK is not only setting new benchmarks in sustainable finance but also shaping the regional ESG landscape for generations to come. •NBK's sustainability vision extends beyond its internal ecosystem to encompass the broader communities across the markets it serves •The latest ESG ratings underscore the Bank's expanding regional influence in advancing sustainable finance and reinforcing sustainability risk management practices •These recognitions serve as a global endorsement of NBK's significant strides in embedding ESG principles within its corporate culture and day-to-day operations •MSCI upgraded the Bank's rating from 'BBB' to 'A' •Morningstar Sustainalytics revised its risk assessment of NBK from 'Medium' to 'Low Risk'
Reuters
18-07-2025
- Business
- Reuters
Morningstar Sustainalytics raises EU lending arm's ESG risk score over military funding
LONDON, July 18 (Reuters) - The European Investment Bank's 'risk' score has been revised up by leading ratings provider Morningstar Sustainalytics for a second time this year due to the European Union lending arm's increasing push into military funding. Recent decisions by EU leaders mean the EIB can now directly fund military equipment makers, having only last year introduced a so-called 'dual use' financing policy for technologies such as drones or targeting systems that can also have civilian uses. Amelia Peden, Sustainalytics' lead EIB analyst said its key environmental, social and governance (ESG) 'risk' score had now moved up to 5.2 from 5, due to defence now being one of its permanent policy goals, with no ceiling on funding either. "With these additional developments, the bank further increases its exposure to human rights and geopolitical risks," Peden said, "which may lead to stakeholder scrutiny, and the potential to affect its credit risk profile in the market." Despite the increase - which followed one in January which lifted it from 4.2 - the EIB's risk remains "negligible" on Sustainalytics' scoring system and is still one of the top scorers of the near 16,000 banks, companies and other entities it rates. The EU's lending arm has a balance sheet that runs to over a half trillion euros which is bigger than the World Bank's and is aiming to lend 100 billion euros ($116 billion) this year, including 3.5 billion euros for defence. ($1 = 0.8595 euros)
Yahoo
16-07-2025
- Business
- Yahoo
WuXi Biologics Granted Highest Negligible-Risk ESG Rating from Morningstar Sustainalytics
Best ESG rating tier of negligible-risk with a top 1% global ranking score Industry and Regional ESG Top-Rated Company for five consecutive years Leader in Green CRDMO to drive innovation for a healthier future SHANGHAI, July 16, 2025 /PRNewswire/ -- WuXi Biologics ( a leading global Contract Research, Development, and Manufacturing Organization (CRDMO), today announced it has elevated its Morningstar Sustainalytics ESG rating score to the highest negligible-risk tier, demonstrating its leadership in the global pharmaceutical industry. Sustainalytics is a leading ESG data, research, and ratings firm that supports global investors with their development and implementation of responsible investment strategies. Its 2025 ESG Risk Ratings—covering more than 15,000 companies across different industries worldwide—evaluates over 20 material ESG issues through over 200 indicators and categorizes rating results across five risk levels, from the best negligible to the worst severe. Under the two-dimensional assessment framework, WuXi Biologics achieved the lowest level of risk exposure and was given the strongest risk management score, placing it in the negligible-risk tier with a top 1% global ranking. In addition, for the fifth consecutive year, the company has been recognized by Morningstar Sustainalytics as an Industry and Regional ESG Top-Rated Company. Dr. Chris Chen, WuXi Biologics CEO and Chairman of the ESG Committee, commented, "We are very pleased to have achieved the negligible-risk rating from Morningstar Sustainalytics. It is a reflection of and recognition for WuXi Biologics' continuous commitment to enhancing sustainability capabilities. As a global leader in Green CRDMO, we are focused not only on delivering our own ESG excellence but also on enabling partners worldwide to fulfill their ESG commitments, collaborating with all stakeholders to promote responsible practices throughout the entire value chain." As a participant of the United Nations Global Compact (UNGC) and the Pharmaceutical Supply Chain Initiative (PSCI), the company proactively contributes to advocating sustainability and has earned widespread recognitions for its efforts. It has been granted a MSCI AAA rating; awarded an EcoVadis Platinum Medal; listed in the Dow Jones Sustainability Indices (DJSI); named to the CDP Water Security "A list" and given an A- CDP Climate Change leadership-level score since 2023; selected as a Constituent of the FTSE4Good Index Series; listed in the Hang Seng ESG 50 Index; and rated as Prime by ISS ESG Corporate Rating. About Morningstar SustainalyticsMorningstar Sustainalytics is a leading ESG data, research, and ratings firm that supports investors around the world with the development and implementation of responsible investment strategies. For more than 30 years, the firm has been at the forefront of developing high-quality, innovative solutions to meet the evolving needs of global investors. Today, Morningstar Sustainalytics works with hundreds of the world's leading asset managers and pension funds who incorporate ESG information and assessments into their investment processes. The firm also works with hundreds of companies and their financial intermediaries to help them consider material sustainability factors in policies, practices, and capital projects. Morningstar Sustainalytics has analysts around the world with varied multidisciplinary expertise across more than 40 industry groups. For more information, visit About WuXi BiologicsWuXi Biologics (stock code: is a leading global Contract Research, Development and Manufacturing Organization (CRDMO) offering end-to-end solutions that enable partners to discover, develop and manufacture biologics – from concept to commercialization – for the benefit of patients worldwide. With over 12,000 skilled employees in China, the United States, Ireland, Germany and Singapore, WuXi Biologics leverages its technologies and expertise to provide customers with efficient and cost-effective biologics discovery, development and manufacturing solutions. As of December 31, 2024, WuXi Biologics is supporting 817 integrated client projects, including 21 in commercial manufacturing (excluding COVID CMO projects). WuXi Biologics regards sustainability as the cornerstone of long-term business growth. The company continuously drives green technology innovations to offer advanced end-to-end Green CRDMO solutions for its global partners while consistently achieving excellence in Environment, Social and Governance (ESG). Committed to creating shared value, it collaborates with all stakeholders to foster positive social and environmental impacts and promote responsible practices that empower the entire value chain. For more information about WuXi Biologics, please visit: Contacts ESG esg@ Media PR@ View original content: SOURCE WuXi Biologics
Zawya
21-05-2025
- Business
- Zawya
BlueOnion and Morningstar Sustainalytics Collaborate to Expand Sustainable Investment and Due Diligence Coverage
HONG KONG SAR - Media OutReach Newswire - 21 May 2025 - BlueOnion, an award-winning sustainability analytics platform has collaborated with Morningstar Sustainalytics, one of the world's leading independent sustainability and corporate governance research, ratings and analytics firm to empower banks and asset managers to analyze and visualize sustainability data. This collaboration addresses the growing challenges of greenwashing in sustainable investment products. With the surge in ESG assets and heightened regulatory scrutiny—such as the recent circular issued by the Hong Kong Monetary Authority (HKMA) on the Sale and Distribution of Sustainable Investment Products, the synergistic interplay between BlueOnion's analytics and Morningstar Sustainalytics' data will enhance the financial sector's efforts in meeting compliance requirements in a transparent and fuss free manner. Together, the BlueOnion SFDR product and Morningstar Sustainalytics' data expand coverage to 300,000 mutual funds, ETFs, and 93,000 bond funds, offering broader insights for sustainable investing. The platform standardizes sustainability product measurement, aligns with the EU SFDR, and empowers organizations to analyze ESG performance, assess carbon emissions, avoid controversies, and address climate change—all while meeting regulatory and investor expectations with transparency and confidence. "Proper due diligence is essential for banks to meet regulatory compliance and for asset managers to build portfolios aligned with global sustainability standards. This process depends on robust data, analytics, and clear visualization. BlueOnion's advanced analytics and visualization capabilities, together with our robust data, bridges a gap in the fixed income asset class and the small to mid-cap coverage. As a turnkey solution, it helps our banking and fund clients save time and costs," said Nick Cheung, Managing Director of Enterprise Products, Greater China, Morningstar. This collaboration allows clients to seamlessly integrate Morningstar Sustainalytics' data with BlueOnion's existing data and analytics solution on sustainability, offering clients an intuitive solution to tackle challenges in regulatory compliance and sustainability-focused investment strategies. "We are excited to collaborate with Morningstar to deliver a transformative, turnkey solution that empowers banks and asset managers on their sustainability journey. By combining Morningstar's unparalleled global fund data and analytics expertise with BlueOnion's innovative platform, we provide deeper insights into funds pursuing sustainability integration, transition, and impact through EU taxonomy-related activities. Together, we are elevating industry standards in ESG research, data quality, and transparency, driving meaningful impact and innovation," said Elsa Pau, Group CEO of BlueOnion. This collaboration exemplifies BlueOnion and Morningstar Sustainalytics's commitment to supporting financial institutions in combating greenwashing, achieving compliance, and advancing the global ESG agenda. Together, they enable clients to uncover actionable insights and drive meaningful progress in sustainable investing. Hashtag: #BlueOnion The issuer is solely responsible for the content of this announcement. About BlueOnion BlueOnion is the end-to-end sustainability analytics platform transforming the financial ecosystem. Banks, asset managers, institutional investors, and companies rely on BlueOnion to assess carbon emissions, analyze ESG performance, conduct climate scenario analysis, and build green portfolios. The platform supports sustainability reporting, climate risk management, and compliance with anti-greenwashing regulations, enabling organizations to meet regulatory, investor, and customer expectations. BlueOnion's intuitive tools and data visualizations empower users to drive meaningful decarbonization, enhance transparency, and achieve their sustainability goals responsibly. To learn more, visit About Morningstar Sustainalytics Morningstar Sustainalytics is a leading sustainability data, research, and risk rating service provider. It supports investors in developing responsible investment strategies. With over 30 years of expertise, Sustainalytics helps financial institutions integrate sustainability risk assessments into their investment processes while ensuring compliance with evolving sustainability regulations. Learn more at BlueOnion
Fast Company
15-05-2025
- Business
- Fast Company
Leading the charge: The ESG imperative in safeguarding critical infrastructure
The rise in cybersecurity attacks targeting critical infrastructure has become an urgent national security concern, impacting business operations and community safety. A recent SP Global report reveals that physical security incidents on the U.S. power grid, which resulted in measurable outages, increased by 71% from 2021 to 2022. This highlights the vulnerability of essential services like energy, utilities, and power grids and the serious consequences of any disruptions. Cybersecurity risks are just as alarming. According to Morningstar Sustainalytics, nearly 38% of utility companies worldwide had weak cybersecurity management practices in 2022, leaving critical systems exposed to potential cyberattacks that could disrupt energy supply, endanger public safety, and destabilize operations. The increasing use of connected devices in these sectors only adds complexity, opening up more opportunities for cybercriminals to exploit vulnerabilities. SIGNIFICANT CYBERSECURITY LAPSES One example of how significant cybersecurity lapses can be is the 2017 Equifax data breach. Hackers took advantage of an unpatched vulnerability in Apache Struts despite a public warning. The breach exposed the personal information of 143 million Americans and cost the company over $1.4 billion in damages. This breach shows the catastrophic consequences that can arise when corporate boards do not treat cybersecurity as a top priority. Additionally, the 2025 breach of multiple Australian pension funds further highlights how vulnerabilities in financial systems can have real-world consequences. Cyberattackers targeted major funds like AustralianSuper, Rest Super, and Hostplus, leading to the theft of A$500,000 from compromised accounts. The breach not only jeopardized the financial assets of millions of members, but also tarnished the reputation of the funds involved. This is a stark reminder that any institution with assets is vulnerable to a cyberattack. A RISE IN DEVICE ADOPTION The growing reliance on connected devices in critical infrastructure is projected to continue to climb globally. Statistica's 2024 Transforma insights predict a sharp rise in device adoption across these sectors. While these devices bring significant efficiencies and innovations, they also open the door to new cybersecurity risks. As the attack surface increases with each new device, the potential for vulnerabilities to be exploited grows, intensifying national security concerns and increasing the risk to critical systems. Cybersecurity breaches that expose customer data or compromise critical infrastructure also raise major environmental, social, and governance (ESG) issues. These breaches can severely damage company reputations, erode public trust, and destabilize society. Protecting infrastructure is now about more than just business continuity—it's about fulfilling corporate social responsibility and ensuring the long-term success of the organization. PRIORITIZING CYBERSECURITY Given the scale of these risks, corporate boards must prioritize cybersecurity. Securing critical infrastructure is no longer optional—it's a national security priority. Boards must ensure that robust cybersecurity measures are not only implemented but also continuously tested, updated, and aligned with the constantly evolving threat landscape. Failing to act leaves organizations open to substantial financial, operational, and reputational harm, making cybersecurity an essential part of their leadership duties. As critical infrastructure becomes more interconnected, ensuring its security is essential to preserving the availability, integrity, and reliability of essential services. Collaboration among industry leaders, government entities, and cybersecurity experts is necessary to develop and implement strategies to protect these systems from growing threats. The need for coordinated action and strong security frameworks has never been more urgent. Securing critical infrastructure isn't just about protecting business assets; it's about safeguarding our communities, ensuring the continuity of essential services, and protecting national security. As connected devices continue to be adopted, cybersecurity must remain a top priority, particularly within sectors that provide vital services. Corporate boards must make cybersecurity a central part of their strategy, ensuring it is prioritized to support the long-term resilience and viability of their organizations.
