MSCI upgrades Harmony’s ESG rating
Financial analytics company MSCI has upgraded gold miner Harmony Gold Mining Company’s environmental, social and governance (ESG) rating from ‘BB’ to ‘A’ following its most recent assessment in March.
MSCI ESG ratings measure companies’ resilience to long-term, financially relevant ESG risks.
These ratings analyse industry-specific risks, management quality and controversies to identify potential impacts on a company’s financial performance.
In a statement, Harmony says the improvement in its rating reflects its strengthened performance across key ESG pillars, underpinned by measurable progress in water management, toxic emissions and waste reduction and enhanced governance practices.
The company’s environmental pillar score improved from 3.0 to 5.1, while its social score improved from 2.4 to 4.7, which it says demonstrates tangible progress in operational efficiency, employee engagement and community relations.
Governance remains a core strength, with a consistently high score of 7.4, Harmony points out.
“This upgrade to an ‘A’ rating by MSCI is a strong endorsement of the progress we have made in embedding sustainability into every aspect of our business.
“It reflects the dedication of our people, the resilience of our operations and our unwavering commitment to creating long-term value for all stakeholders while responsibly managing our environmental and social impacts,” says CEO Beyers Nel.
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