Morgan Stanley Capital International (MSCI) has upgraded Wilmar International to an “A” rating from a “BBB” for the latter’s environmental, social and governance (ESG) performance.
The upgrade was made during MSCI’s assessment in 2021, for long-term resilience to ESG risks by companies
On a peer benchmarking basis, Wilmar currently ranks second compared to the five largest industry players assessed under the Food Products category. It is also recognised as among the top performers in this group.
The improvement follows other sustainability achievements made by Wilmar in 2021, including its inclusion in the Dow Jones Sustainability Indices (DJSI) World Index for the Food, Beverage and Tobacco industry grouping for being among the top global companies with the best ESG performance.
Shares in Wilmar closed 5 cents higher or 1.2% up at $4.22 on Jan 4.
