VEON Upgraded to 'AA' for ESG

Published on:
by KnowESG
KnowESG_MSCI upgrades VEON to 'AA' ESG Rating
Image courtesy of Vecteezy

VEON, a global digital operator providing connectivity and online services, announced that MSCI has upgraded the Company’s Environmental, Social, and Governance (ESG) rating from 'A' to 'AA'.

This positions VEON among the leading 'Leaders' in the telecommunications services sector, recognising its commitment to sustainable and ethical business practices.

The 'AA' rating from MSCI reflects VEON's dedication to making a positive impact on society, ensuring ethical governance, and prioritising environmental stewardship. The Company is proud of its efforts to integrate sustainable practices across its operations and continually raise standards.

VEON’s focus on “4G for all” and digital services has resulted in significant advancements in digital and financial inclusion across the six markets where the Group operates: Pakistan, Ukraine, Bangladesh, Kazakhstan, Uzbekistan, and Kyrgyzstan. VEON remains committed to upholding high standards of governance and serving its stakeholders.

Kaan Terzioglu, VEON Group CEO, said, "Our 'AA' rating from MSCI demonstrates VEON’s success in integrating and implementing a strategy aimed at making a positive societal impact, ensuring ethical governance and contributing to environmental stewardship. This upgrade and our position in the ‘Leaders’ category for our industry reflects VEON's persistent efforts to incorporate sustainable and responsible ESG practices across our operations, raising the bar consistently and with dedication.

“I am particularly pleased to see that VEON has scored above the industry average for labour management, with MSCI noting our focus on employee engagement and satisfaction. The ESG rating agency also named VEON’s exit from Russia as a factor contributing to the rating upgrade. MSCI also noted VEON’s good practices in end-user data management, noting that our data security framework is on par with industry peers and features certification to widely recognised data security standards.

“Finally, corporate governance is another area where VEON excelled in comparison to our peers, according to MSCI, with a majority independent Board of Directors. This Board makeup reflects not only globally accepted good practices but also the fact that VEON has no controlling or majority shareholder."

For further information on VEON and its ESG practices, please visit the website at https://www.veon.com/we-are-veon/sustainability.

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Source: VEON

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