Exxaro Resources is proud to announce that in accordance with the Environmental, Social and Governance (ESG) ratings by Morgan Stanley Capital International (MSCI), the diversified minerals and renewable energy solutions company has sustained its “A” rating and improved in the “E” (Environmental) category.
The MSCI ESG Ratings aim to measure a company’s management of relevant ESG risks and opportunities by adapting a rules-based methodology to identify industry leaders and laggards and how they manage those risks.
Exxaro Group Manager: Integrated Reporting and ESG Performance, Malusi Buthelezi says, “through our Sustainable Growth and Impact (SG&I) strategy, our various initiatives help preserve the environment; empower people to create impact; and help us commit to being an inclusive, sustainable and productive mining company. This MSCI ESG rating confirms our business performance and responsible practices towards a greener future.”
In the Environmental category, pertaining to carbon emissions, biodiversity and land use, water stress and toxic emissions and waste, Exxaro scored a 3.9 out of 10 rating, which is a 0.3 improvement from the previous rating, making Exxaro’s score higher than the 2.7 industry average. In the Social category, covering health and safety, community relations and labour management, Exxaro scored an average of 5.2 out of 10.
The greatest ESG rating for Exxaro has been in the Governance category, measuring corporate governance and corporate behaviour, where the company scored 6.9 out of 10 score, compared to the industry standard rating of 3.9. The weighted-Average Key Issue Score for Exxaro was 5.0, higher than the industry average of 3.4.