“The fact that MSCI has upgraded our sustainability rating once again, this time to AA, demonstrates that we have made further progress on environmental, social and corporate governance aspects of sustainability. I am delighted that MSCI describes us as a leader in the corporate governance sphere. Further factors that contributed to the ESG rating upgrade included progress in the field of talent management and our initiatives to mitigate climate change,” says Gert De Winter, CEO of Baloise Group.
Baloise believes that the concept of sustainable development and the insurance and financial services industries share some important characteristics, for example the need to act with a long-term focus and to manage risks and resources responsibly. Increasingly, this is also being recognised outside the Company. In April 2017, MSCI assigned Baloise an ESG rating of BB. About two years later, it upgraded the rating from BB to BBB. In November 2021, MSCI raised the ESG rating of Baloise again, from BBB to A.
The latest rating increase from A to AA was awarded by MSCI in recognition of Baloise’s leading performance in the field of corporate governance compared with an international peer group. MSCI highlighted positive developments in the organisation of the Board of Directors. Moreover, Baloise has improved its talent management and introduced initiatives aimed at mitigating climate risks.
MSCI awards ESG ratings on a scale from CCC at the lower end through B, BB, BBB to A, AA and a top rating of AAA. An ESG rating of AA means that Baloise now ranks among the leading companies in the multi-line insurance & brokerage sector. MSCI ESG Research is the biggest global provider of sustainability analyses and ESG ratings.
The progress that Baloise has been making with the implementation of its sustainability strategy is also attracting growing attention and recognition from other rating agencies. For example, Baloise was recently (as of 19 September 2022) included in the SXI Switzerland Sustainability 25 index of the Swiss stock exchange. This index measures the performance of the 25 Swiss companies that have the highest sustainability rating according to the criteria used in Inrate’s ESG impact rating (see media information).