Somec S.p.A. has been voluntarily rating its ESG performance by Sustainalytics, one of the world’s leading independent companies that weighs Environmental, Social and Governance (ESG) performance, with a view to improve transparency towards its stakeholders and further strengthen its journey to sustainability.
The rating, in detail, measures the exposure to industry-specific ESG material risks and how effectively the company manages these risks.
SOMEC was awarded an ESG risk rating of 22.5, a two-point improvement compared to previous year (24.5). This rating also allowed SOMEC to move up in the overall ranking of the companies being monitored, where it ranked 33rd out of 140, up ten places from 43rd place (out of 133 companies) last year.
This improvement also enabled the company to position itself at the lower end of the range in the medium risk band (20-30). As benchmarked against four other peers on a like-for-like basis in terms of market capitalisation, SOMEC scored the best Esg Risk Rating.
Oscar Marchetto, Chairman of SOMEC, comment: “We are pleased with this result as it bears out the Group’s focus on improving factors related to environmental, social and corporate governance issues. We are sharing this achievement with all those within SOMEC who strive every day to promote more transparent governance models, measure and improve our environmental footprint, gain deeper insights into our social and economic impact on the local area and devise and implement corporate strategies geared towards improving our sustainability.”
For more details, an abstract of the report is published on Sustainability website at https://www.sustainalytics.com/esg-rating/somec-spa/2002164726.