NKT is constantly increasing sustainability in all its activities, and the dedicated work has now been recognized by three independent agencies improving the ESG ratings of the company. The updated ratings from EcoVadis, Sustainalytics' ESG Risk Rating and MSCI ESG Ratings rate the company's activities within environment, social and governance. With improved scores, NKT has been recognized for the continuous sustainability focus and the improvement emphasizes the company's position as a sustainability leader in the power cable industry.
- We play a central part in the global transition to renewable energy, and it is natural for us to have a strong focus on sustainability in NKT. I am proud that we have been acknowledged for our sustainability practices by the three external rating companies covering our sustainability journey. The improved ratings reflect our work and dedication to drive sustainability and connect a greener world with our cable solutions, says Alexander Kara, CEO in NKT.
The improved ESG ratings is a result of the continuous execution of several projects driving sustainability in NKT. These include increased data transparency, satisfactory execution on sustainability initiatives such as use of alternative fuel for forklifts and trucks, running all production on green electricity, increased focus on safety, diversity and inclusion as well as working with responsible and sustainable suppliers.
In 2020, NKT signed up for the Science Based Target initiative as the first major power cable company to become a net-zero emissions company no later than 2050 and committed at the same time to reduce its carbon footprint with 5% annually in average.
New ESG ratings of NKT
EcoVadis: Improved from Silver to Platinum-rating placing NKT amongst the top 1% of all rated companies and organizations
Sustainalytics: Improved from 'Medium' to 'Low' risk of experiencing material financial impacts from ESG factors giving NKT a position amongst the 4th percentile in the Electrical Equipment industry as of September 2021.
MSCI EGS Ratings: Improved from BBB to AA, the second-best grade in the MSCI rating system