Emsteel secures key MSCI provisional ESG rating
MSCI ESG Ratings evaluates over 9,000 companies worldwide, assessing their exposure to industry-material ESG risks and how well they manage them relative to peers.
The ratings range from 'leader' (AAA, AA), average (A, BBB, BB) to 'laggard' (B, CCC). This score reaffirms the Group's ESG leadership among its peers globally.
Reinforcing Emsteel's position as one of the industry leaders in managing key ESG risks and opportunities, MSCI's evaluation particularly highlights the group's efforts in managing its environmental impact through innovative responsible practices to abate carbon emissions, and enhancing well-being, health and safety practices for its workforce – with almost all categories significantly above the global average.
Group CEO Eng. Saeed Ghumran Al Remeithi said: "Our inaugural 'AA' ESG rating by MSCI is a powerful testament to Emsteel's commitment to sustainable industrial leadership. It reflects the strength of our governance, the resilience of our people, and our deep-rooted responsibility to the environment and communities we serve."
"As we align with the UAE's Net Zero 2050 vision, this recognition strengthens our resolve to lead by example, delivering lasting value to our shareholders, society, and future generations," he stated.
The 'AA' provisional ESG-rating follows the Groups announcement in May 2025 regarding its landmark Green Finance Framework, which is a cornerstone of Emsteel's broader Environmental, Social, and Governance (ESG) strategy.
The Framework's development was supported by key partners, including ING as Lead Sustainability Structuring Bank and First Abu Dhabi Bank (FAB) as Sustainability Structuring Bank. For the MSCI ESG rating, ING also acted as the ESG Rating Advisor.
Emsteel is driving industrial sustainability through an ambitious decarbonisation strategy. The Group aims to reduce emissions by 40% in its Steel Business Unit and 30% in its Cement Business Unit by 2030, using 2019 as the baseline year, and is firmly committed to achieving net-zero emissions by 2050.
Key initiatives include enhancing energy efficiency, integrating renewable energy, and advancing green hydrogen innovation all in alignment with the UAE's Net Zero 2050 agenda.
Emsteel reported total Scope 1 and 2 emissions of 4.5 million tonnes of CO₂ as of 2023 - representing a 23% reduction from the 2019 baseline - a milestone that earned the Group global recognition for its sustainability leadership.
Emsteel was recognised as the 2024 Steel Sustainability Champion by the World Steel Association for its pioneering efforts in decarbonising steel production.
The World Economic Forum also recognised Emsteel for its outstanding efforts in decarbonising the iron and steel industry, placing it among the top five leading steel companies worldwide that have received this recognition.
In September 2024, Emsteel was appointed as Co-Chair of the Alliance for Industry Decarbonisation (AFID) led by the International Renewable Energy Agency (Irena).
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The National
11 minutes ago
- The National
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It also opened Gems Education Founders School – Masdar City and Gems Education Founders School – Dubai South last year, with Gems Education School of Research and Innovation to follow next month. Nikki Holman, head of admissions of UK curriculum schools at Taaleem, reported a similar increase. 'Over the past year, we have experienced accelerating demand across our school portfolio,' she said. 'New campuses such as Dubai British School Jumeira have reached high utilisation within their first year, and DBS Mira, set to open in August 2025, is already enrolling over 700 students, a record for a premium school in Dubai.' How do I know if a school is good? In Dubai, the Knowledge and Human Development Authority (KHDA) rates schools regularly with six rankings, from 'very weak' to 'outstanding'. The rankings are available to the public in the Education Directory on its website. 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The National
an hour ago
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UAE Moments
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Global Collaborations and Partnerships The UAE continues to strengthen its international relations through partnerships with major economies like the United States, China, and India. Collaborative efforts in sectors such as energy, education, and defense underscore the country's importance on the global stage. Its active participation in organizations like the International Renewable Energy Agency (IRENA) further showcases the UAE's role in shaping the future of sustainable development worldwide.
