illimity Bank S.p.A. (“illimity” or the “Bank”), has received an upgrade from “A” to “AA” in the ESG rating assigned to it by MSCI, in this way moving from “Average” to “Leader” in its industry.
MSCI, one of the world’s leading providers of indices and benchmarks, uses a methodology that aims to measure a company’s management of financially relevant ESG risks and opportunities.
In upgrading illimity to “AA”, MSCI made a positive assessment of illimity’s governance practices, which in its view are well-aligned with the interests of institutional investors and best market practice, positioning it in the highest-scoring band compared to its global peers. In addition, the agency highlighted the fact that the Bank has detailed policies on corporate ethics, anti-corruption and the protection of confidentiality.
Fabio Pelati, Head of IR & Sustainability, commented: “The upgrade obtained from MSCI, which follows that received from the agency last year, is a reward for the constant effort made by illimity in pursuing its sustainability strategy by continuously integrating ESG criteria into the Bank’s objectives, processes and policies.”
Source: illimity Bank
