Zain KSA continues to demonstrate its leadership in environmental, social, and governance practices in Saudi Arabia's telecommunications industry, most recently achieving an 'A' rating on the MSCI ESG Index.
The upgrade of Zain KSA's index rating from 'BBB' to 'A' reflects the importance of the company's initiatives, programs, and practices within the context of environmental and social responsibility and good governance. The incorporation of ESG performance indicators at the operational, financial, and administrative levels, as well as across all departments and divisions, is proof of Zain KSA's commitment to fostering an organization-wide ESG culture.
Eng. Sultan bin Abdulaziz Al-Deghaither, CEO of Zain KSA, commented on the accomplishment as follows: "Zain KSA's new (A) rating in the MSCI ESG Index reflects our robust sustainability strategy and our commitment to our role and responsibility in achieving economic, social, and human development in the Kingdom, contributing to the goals of Saudi Vision 2030. In partnership with Red Sea Global, we recently launched the world's first zero-carbon 5G network, putting our environmental sustainability plans into action. We also emphasized our dedication to social development through a number of partnerships, including our collaboration with the Family Safety Program as part of the Child Helpline project and our partnership with the Ministry of Human Resources to train 50,000 young men and women from across the Kingdom. Our most notable achievements in corporate governance were exemplified by our rigorous financial and administrative practices, which have increased our profitability and strengthened our market position.
This upgraded rating demonstrates that our corporate sustainability strategy aligns precisely with the Sustainable Development Goals (SDGs) of the United Nations."
MSCI ESG Index is the foremost provider of ESG indicators around the globe. By measuring performance and reporting on ESG mandates, the index provides institutional investors with effective tools to incorporate ESG considerations into their investment processes and portfolios.
Notable is the fact that Zain attained an advanced rating in Management Scope 'A-' in the Carbon Disclosure Project (CDP), a classification for businesses that disclose information on the environmental impact of their initiatives and operations after meeting CDP standards.
