In October 2021, Aibel, a premium member of the Thai-Norwegian Chamber of Commerce, received an ESG (environment, social, governance) Risk Rating of 18.2 and was assessed by Sustainalytics to be at low risk of experiencing material financial impacts from ESG factors. The ESG Risk Rating places the company in the 1st percentile in the Energy Services industry.
Sigbjørn Innselset, Head of Quality, Risk, and Compliance at Aibel is pleased to see the company’s hard work being acknowledged.
“Such a high rating does not come without strong efforts throughout the company. This shows that we have succeeded in developing a business culture that is based on respect, compliance, values and with a strong focus on health, safety, security, and the environment. And we know it is a never-ending task to further develop and improve these results,” he says.
Aibel has worked systematically with reporting its Corporate Responsibility (CR) since 2017. From 2021 onwards, the CR report will be called the Sustainability report.
President and CEO Mads Andersen is proud of Aibel’s strong ESG results.
“Achieving the second-best score in a group of 110 company peers demonstrates quality and professionality. I am proud that Abel has managed to deliver on our commitment to sustainable development. Going forward, we are determined to keep our operations at low risk and maintain robust management of ESG issues,” says Andersen.
Sustainalytics’ ESG Risk Ratings measure a company’s exposure to industry-specific material ESG risks and how well a company is managing those risks. This multi-dimensional way of measuring ESG risk combines the concepts of management and exposure to arrive at an assessment of ESG risk, i.e. a total unmanaged ESG risk score or the ESG Risk Rating, that is comparable across all industries. Sustainalytics’ ESG Risk Ratings provide a quantitative measure of unmanaged ESG risk and distinguish between five levels of risk: negligible, low, medium, high and severe. Learn more about the ESG Risk Ratings here.
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