RHI Magnesita Receives AA Rating for Sustainability Efforts
Wednesday, June 16, 2021
RHI Magnesita/AT, the leading global supplier of high-grade refractory products, systems and solutions, has been awarded AA for its sustainability achievements and initiatives in MSCI's ESG ratings. MSCI ESG Research is a leading provider of research and analysis for the global investment community. The agency’s rating assessed RHI Magnesita’s approach to Environmental, Social and Governance (ESG) risks based on a diverse set of categories from e.g. climate change, pollution and waste to human capital and social opportunities.
"The world is facing tremendous challenges to protect our global environment. Especially businesses must take their responsibility and significantly ramp up their sustainability efforts. To drive a zero-carbon and circular economy within the industry, RHI Magnesita has declared sustainability as one of its top priorities. We decided to invest EUR 50 million in the development of new technologies to reduce and capture carbon. We aim for nothing less than CO2-neutrality. This recognition confirms our consistent path and strategic focus,” said Stefan Borgas, CEO RHI Magnesita.
Janet Ashdown, Chair of the Board Corporate Sustainability Committee, emphasized: “RHI Magnesita is recording significant progress in sustainability over the last three years: from our Ankral LC low-carbon bricks series, to recycling and decreasing the carbon footprint of our raw materials and building the circularity of our business, to the increased proportion of women in senior leadership positions.”
MSCI ESG ratings are designed to indicate an investment fund's resilience to long-term, relevant environmental, social and governance risks. MSCI uses a rules-based methodology to identify industry leaders and laggards based on their exposure to ESG risks and how well they manage those risks relative to their peers. The MSCI ESG rating ranges from CCC (Laggard) to AAA (Leader).