Page 21 - SAMENA Trends - January-February 2025

REGIONAL & MEMBERS UPDATES SAMENA TRENDS

Zain Group’s MSCI Rating for ESG Upgraded to

‘BBB’

Zain Group, a leading provider of innovative data protection and privacy policies. organizations with respect to giving all
technologies and digital lifestyle and Notably, in the environmental pillar Zain stakeholders confidence that the company
ICT communications operating in eight scored 10/10 – a best-in-class recognition. is being run in a sustainable, compliant
markets across the Middle East and Africa, Zain Vice-Chairman and Group CEO, and transparent manner. This MSCI
announces a significant improvement in Bader Al-Kharafi commented, “This ESG upgrade to BBB reaffirms Zain’s Investor
its Morgan Stanley Capital International upgrade reaffirms Zain’s commitment to Relations and Corporate Governance
(MSCI) rating in ESG (Environmental, sustainability, corporate governance, and Framework as it helps Zain mitigate
Social, and Governance), which was ethical leadership, that is value creative for risks and facilitates an effective Board
upgraded from ‘BB’ to 'BBB’ as of December all stakeholders. It also marks an important oversight over the company’s executive
2024. The renowned MSCI ESG Ratings milestone for the company as we continue management by promoting strong internal
methodology evaluates companies on their to align with global industry standards controls to improve integrity of financials
management of material ESG risks and and strive for further improvements in and establishing a culture of compliance.”
opportunities including climate change, our ESG performance in line with our Al-Kharafi concluded, “This framework is
human capital, and corporate governance, recently announced ‘4WARD’-Progress with a cornerstone of the company’s regional
with a focus on policies, performance Purpose five-year sustainable corporate appeal, and has won the confidence and
metrics, and controversies. Ratings are strategy.” “Zain operates within a complex admiration from shareholders, the banking
industry-relative and range from ‘AAA’ geopolitical context and we will continue community, industry analysts, regulatory
to ‘CCC,’ with scores determined by a to invest in ESG initiatives and focus on authorities and other globally recognized
company’s exposure to ESG risks and mitigating risks through the integration of indices, attracting global investors.” Zain
the effectiveness of its management advanced technologies. We are relentless is one of the most active organizations
strategies. MSCI’s upgrade for Zain from in our ongoing efforts to engage and in the region with respect to delivering
BB to BBB reflected the company’s ethical collaborate with regulators, shareholders, meaningful connectivity that leads to
leadership that oversaw the implementation and the wider community, to drive sound equitable systemic change through its
of enhanced governance frameworks; sustainable and corporate governance ESG initiatives, with the company playing
evolving sustainability programs; stronger practices.” “As a leading entity listed a crucial role in empowering the markets
environmental policies and reducing on the Boursa Kuwait Premier Market, in which it operates to reap the benefits of
carbon emissions; advancements in sound ESG practices are becoming an digital transformation for the benefit of the
transparency and reporting; improving increasingly important differentiator for communities it serves and beyond.

21 JAN-FEB 2025