Cellnex Boosts ESG Risk Rating in Sustainalytics

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by KnowESG
KnowESG_Cellnex Sustainalytics ESG Risk Rating
Image courtesy of Cellnex

Cellnex, a prominent European wireless telecommunications infrastructure provider, has demonstrated ongoing advancements in its annual assessment by Sustainalytics, a subsidiary of Morningstar.

The company has successfully reduced its risk by 55% since 2018 (from 24.9p to 11.2p), maintaining its position as the top-rated player in the telecommunications sector and ranking among the top 1% globally in terms of sustainability.

Sustainalytics' comprehensive ESG Risk Rating evaluates a company's exposure to sustainability risks based on Environmental, Social, and Governance (ESG) criteria, underscoring Cellnex's unwavering commitment to sustainable practices.

Cellnex's risk rating has improved from 14 in 2021 to 11.2 in 2022 (a noteworthy year-on-year improvement of approximately 25%), positioning the company as the second-best performer (at the 1% percentile) among all telecommunications companies assessed.

This achievement solidifies Cellnex's consistent placement in the 'low risk' category for ESG considerations, a distinction it has maintained for four consecutive years.

Furthermore, Cellnex has climbed to the 443rd spot out of over 15,000 companies evaluated by Sustainalytics across all sectors, reaffirming the company's robust ESG initiatives and marking an improvement over the previous year.

Angels Ucero, Cellnex's Director of Sustainability, emphasised the company's significant improvement in the Sustainalytics ESG Risk Rating, attributing it to the dedication and collective efforts across all areas of the organisation. Ucero stated, "ESG criteria serve as a cornerstone of our corporate strategy, as evidenced by our successful completion of 100% of the planned actions outlined in our Master Plan during 2022."

The ESG Master Plan 2021–2025 encompasses six key strategic lines, consisting of 92 actions that align with the United Nations Sustainable Development Goals (SDGs). In 2022, the company made remarkable progress, achieving 100% of the planned actions and implementing 93% of them. This steadfast commitment to sustainability is further validated by other reputable sustainability ratings such as CDP, FTSE4Good, MSC, Bloomberg, and S&P Global.

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Source: Cellnex


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