Nickel Asia Corp. (NAC) improved its environmental, social and governance (ESG) performance this month based on the latest assessment by its external ESG rating partner, Sustainalytics.
Citing Sustainalytics’ report, NAC said it scored an ESG risk score of 33.6 during the assessment period from December 2022 to February 2023 from the previous rating of 43.7.
NAC also said the latest report covered more than 70 management ESG performance indicators while the previous rating released in July last year was assessed through publicly available disclosures and followed Sustainalytics’ core framework that included nearly 30 ESG indicators.
The company said with the latest results, it now ranks 54th out of 210 firms assessed by Sustainalytics under the diversified metals category and 37th out of 174 firms under the diversified metals mining sub-industry.
It also placed NAC under the high-risk category from a severe risk category. A high-risk rating is garnered by a company with risk scores between 30 and 40 while a severe risk rating is for firms with risk scores of 40 above.
