LISTED mining firm Nickel Asia Corp. said on Tuesday that it has scored a performance rating of 33.6 for its environmental, social, and governance (ESG) initiatives, which is an improvement over its previous 43.7 rating.

In a statement, the company said the score was based on the latest assessment conducted by its external ESG rating partner Sustainalytics for the period December 2022 to February 2023.

“The improvement in our score confirms that our sustainability strategies, practices, and policies as a company have put us on the right track on our journey to achieving our ambitious goal of becoming the premier ESG investment in the Philippines and among the top 25 in market capitalization of the listed companies in the Philippine Stock Exchange,” said Jose Bayani Baylon, senior vice-president for sustainability, risk, corporate affairs, and communications.

“Along the way, we will encounter incidents and controversies, but our vision and our strategy, values, and policies will serve to keep us focused on what we have to do because it is the right thing to do,” he added.

The report covered more than 70 management ESG performance indicators, the company said, adding that the previous rating in July last year covered 30 indicators that were assessed through “publicly available disclosures and followed Sustainalytics’ core framework.”

The 10.1-point improvement in its score placed Nickel Asia under the “high risk” category or those with risk scores between 30 and 40. Its previous rating classified it among “severe risk” firms.

“This means that the firm’s overall management of material ESG issues is strong,” the company said. — Sheldeen Joy Talavera