MSCI upgrades X5 Group’s ESG rating to BBBMSCI ESG Research has upgraded X5 Group's sustainability rating from BB to BBB.
The agency assigns ratings to global public companies based on their resilience to long-term, industry-specific, ecological, social and governance risks. The ratings range from CCC to AAA. MSCI noted in particular X5's detailed anti-corruption policy, its ethics training for employees, carbon footprint reduction plan and efforts to protect the rights of minority shareholders.
"Sustainable development is a priority for X5 and we are happy that our work in this area is being recognised and praised. We place equal focus on ecological and social projects, corporate governance and personnel initiatives. Our team will continue to drive the Company towards its strategic sustainable development goals," said Igor Shekhterman, Chief Executive Officer at X5 Group.
The Company was recognised for best sustainable development report in the consumer goods sector at the ESG Reporting Awards 2021 (ESG Investing) and was ranked first among retail companies for its performance in sustainable development by the rating agency RAEX Europe.
X5 Group is a leading Russian food retailer (LSE and MOEX ticker: "FIVE")