Asda's Maiden External ESG Rating Announced
Asda has announced its first-ever evaluation of its ESG strategy by Sustainable Fitch, a financial services ratings agency.
In this first rating for Asda, the company got a 3 (on a scale of 1 to 5, where 1 is excellent and 5 is poor) in the entity rating. Asda is doing well in integrating ESG considerations into its business strategy, laying a strong foundation for future progress. Asda also got an entity score of 54.
An ESG rating is a report card that shows how a company is doing in terms of ESG (environmental, social, and governance) compared to others in the industry. It helps investors and others understand a company's ESG profile, risks, and opportunities.
Sustainable Fitch lauds Asda's efforts in meeting ESG targets, especially in reducing its carbon footprint and making packaging more recyclable. They also appreciate Asda's detailed ESG reporting, which follows industry best practices.
Asda's efforts in human and labour rights, having a balanced workforce, and promoting healthier food options are recognised as positive steps.
Asda welcomes suggestions for improvement, like providing more information on certain topics. For example, they plan to talk about climate-related scenarios in their 2023 accounts.
Michael Gleeson, Asda's Chief Financial Officer, says that ESG credentials are becoming more important to investors and customers. He is happy with the first ESG rating from Sustainable Fitch, showing Asda is on par with other big retailers. Asda looks forward to growing and improving its score, proving its commitment to responsible retailing.
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Source: Asda
