10 Aug 2021 08:00
MAGNIT PJSC (MGNT) MSCI increases Magnit's ESG rating score up to the BBB level 10-Aug-2021 / 10:00 MSK Dissemination of a Regulatory Announcement, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.
MSCI increases Magnit's ESG rating score up to the BBB level
Krasnodar, Russia (August 10, 2021): The MSCI International Agency has increased Magnit's PJSC (MOEX and LSE: MGNT; the Company) sustainable development ranking from BB to BBB[1]. The Agency acknowledges the Company's progress in corporate governance, products quality and safety assurance, carbon footprint reduction, and development of staff relations. MSCI increases the Retailer's score for the second year running - in 2020, it grew from B to BB. The MSCI ESG Rating is one of the leading global ESG ratings. It reflects the company's long-term sustainability in terms of environmental and social risks, as well risks in corporate governance (ESG). Every year, the Agency evaluates over 2,800 public companies all over the world scoring them from ССС to ААА. Today, 53 international and national retail companies are assessed in the Rating.
Before, Magnit was ranked first among Russian retailers in the ESG Rating of the National Ratings Agency (NRA) and third among Russian non-financial public companies. The NRA assigned Magnit to the Advanced Level group consisting of the companies that have a long-term sustainable development strategy, a plan for its implementation, corresponding KPIs and public reporting on achieving them. In addition to that, integration of the ESG agenda in these companies is reflected in corporate governance, organizational structure, and business processes; and at the same time, such companies involve their staff in development and implementation of the strategy.
[1] https://www.msci.com/our-solutions/esg-investing/esg-ratings/esg-ratings-corporate-search-tool/issuer/magnit-pao/IID000000002174623 |
ISIN: | US55953Q2021 |
Category Code: | MSCU |
TIDM: | MGNT |
LEI Code: | 2534009KKPTVL99W2Y12 |
OAM Categories: | 3.1. Additional regulated information required to be disclosed under the laws of a Member State |
Sequence No.: | 119567 |
EQS News ID: | 1225178 |
End of Announcement | EQS News Service |
UK Regulatory announcement transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.