TAP Air Portugal Soars High in Sustainability

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by KnowESG
KnowESG_TAP Air Portugal Soars High in Sustainability
Image courtesy of https://www.tcs.com/

TAP Air Portugal has been assigned an ESG Risk Rating of 24.4 by Morningstar Sustainalytics.

The airline is categorised as having a medium risk of facing financial impacts due to ESG factors. In a global context, TAP Air Portugal outperformed 92% of airlines in the index, securing the 2nd position among the 14 European airlines and the 6th position out of a total of 71 global airlines evaluated.

The ESG Risk Rating is determined by considering both the company's ESG Risk Exposure and ESG Risk Management ratings. TAP Air Portugal's overall risk exposure is deemed medium, aligning with the subindustry average. However, the airline excels in managing material ESG issues, surpassing the subindustry average.

TAP Air Portugal acknowledges the importance of sustainability as a core element in its performance and competitive standing. The airline shapes its strategies with a commitment to responsible and conscientious management of natural and social resources.

TAP's sustainability approach adopts a holistic model, recognising the significance of environmental and social dimensions while ensuring the financial resilience of the business.

Morningstar Sustainalytics' ESG Risk Ratings gauge a company's vulnerability to industry-specific ESG risks and its effectiveness in managing those risks. The rating system provides a comprehensive assessment of ESG risk by combining management and exposure concepts. The resulting ESG Risk Rating allows for cross-industry comparability and categorises risk levels into negligible, low, medium, high, and severe.

For more information on ESG Risk Ratings, visit www.sustainalytics.com/corporate-solutions/esg-solutions/esg-risk-ratings.

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Source: TAP Air Portugal 

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