MSCI Upgrades Energy Recovery’s ESG Rating to AAA
Energy Recovery, Inc. announced that MSCI upgraded the company from an AA rating to its highest rating of AAA in its latest environmental, social, and governance (ESG) assessment completed on July 4, 2023.
MSCI’s evaluation recognises Energy Recovery as one of the highest-performing companies within the Industrial Machinery industry in MSCI’s All Company World Index, reflecting robust corporate governance and labor management practices and significant opportunities in clean technology.
MSCI uses a rules-based methodology to measure companies’ management of financially relevant ESG risks and opportunities based on key sector-specific issues. Companies are evaluated based on their exposure to ESG risks and how risk is managed relative to peers. Ratings range from AAA (leader) to CCC (laggard).
The recognition comes just three years after the company was initially rated BBB by MSCI, showcasing the company’s consistent and rapid improvements across core metrics.
“Sustainability and resilience have always been central to our business, from the technologies we develop for customers to the various ways we manage our day-to-day operations,” said Robert Mao, Chairman of the Board, President, and Chief Executive Officer of Energy Recovery. “This independent recognition of our work is welcome, and we are excited about what the future holds for us as we continue to expand our pressure exchanger technology into new industries.”
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Source: Energy Recovery