Leading fiber broadband provider Converge ICT Solutions Inc. scored higher on Environment, Social, and Governance (ESG) metrics being tracked by global investment research firm MSCI in its latest review, reflecting its resilience to ESG risks and cementing its reputation as a highly investable and financially viable company.
Converge received a rating of ‘A’ (on a scale of AAA – CCC) in the MSCI ESG Ratings assessment in its latest review released on May 17, 2023. This improves the MSCI ESG Ratings of Converge from ‘BBB’ previously.
MSCI ESG Research provides MSCI ESG Ratings on global public and a few private companies on a scale of AAA (leader) to CCC (laggard), according to exposure to industry-specific ESG risks and the ability to manage those risks relative to peers.
“Since announcing our Sustainability Commitment in 2021, we have been laser focused on managing the ESG topics that matter most to our stakeholders, particularly our customers, our employees, and our investors. This rating upgrade provides external validation of our efforts. Our aim is to be an industry leader in addressing sustainability-related risks and opportunities,” said Converge EVP and Chief Sustainability Officer Benjamin Azada.
Converge implemented projects targeting the Environment pillar with its switch to renewable energy, and the Social pillar with its cybersecurity measures guarding against data breaches, thus improving Privacy and Data Security. Converge has also made strides in improving its labor practices.
MSCI ESG Research provides in-depth research, ratings and analysis of the environmental, social and governance-related business practices of thousands of companies worldwide. Our research is designed to provide critical insights that can help institutional investors identify risks and opportunities that traditional investment research may overlook. The MSCI ESG Ratings are also used in the construction of the MSCI ESG Indexes, produced by MSCI, Inc. For more information, click here.
Converge will be observing Sustainability Week this first week of June with a series of activities starting with a webinar entitled Sustainability Begins at the Core, and culminating in the launch of the ‘Bawal ang Plastik’ campaign. This campaign is part of the company’s Zero Waste program as Converge aims for a zero output to landfill goal by 2025.
To make headway on this goal, Converge started with the collection and recycling of electronic waste (which Converge, as an ICT company, generates in abundance), and now moving to reduce its consumption of single-use plastics through the Bawal ang Plastik campaign. Through an information drive, employees are enjoined to use less plastic in the office premises and to donate whatever plastic bottle they may use to the company collection boxes. The plastic wastes will be handed over to accredited recycling companies.
To learn more about the ways in which Converge is integrating sustainability into its business operations, you may visit https://corporate.convergeict.com/sustainability/.
