Acea for World Energy Saving Day
Acea guarantees the financial community a constant flow of information, in a timely manner and such as to allow a correct assessment of the Group’s current and prospective situation, highlighting in particular ESG (Environmental, Social, Governance) factors and recognising its position in the evaluations of analysts, rating agencies and benchmarks.
In the current macroeconomic situation, sustainable funds demonstrate a resilience in line with “traditional” funds. The attention of ESG investors vis-à-vis Acea is confirmed by their presence in our capital: according to an analysis carried out in November 2023, they represent 6.1% of share capital (compared with 6.4% the previous year) and around 45% of total institutional investors (compared with 51% in 2022). This concerns above all European funds, followed by North American funds.
As evidence of the company’s commitment to sustainability, on 19 December 2022 Acea joined the MIB ESG index, the first index dedicated to major Italian listed companies offering the best ESG practices.
In 2023, confirming its constant commitment towards combating climate change, Acea has been included by CDP (formerly Carbon Disclosure Project) in the “Leadership” category with the level A-, an improvement compared to the results achieved in the previous year (B). CDP is the international benchmark organisation for investors interested in understanding the commitment of companies on climate change issues. It is supported by over 740 international investors with managed assets totalling more than 136 trillion and focuses its attention at global level on the management of risks and impacts pertaining to climate change, inviting companies to furnish structured and precise information on the subject. Each year, CDP publishes a ranking setting out the assessment made on each company. In 2023 over 23,000 businesses disclosed their information through CDP.
In 2023, independent agency Standard Ethics has upgraded the Group’s Corporate rating to “EE+” from the previous “EE” on a scale of F/EEE (non investment grade/full investment grade).
The agency’s evaluation is based on corporate governance, environmental and social aspects and measures the level of compliance with EU, OECD and United Nations recommendations. SIn 2022 Acea entered the SE Mid Italian Index, made up of 20 companies listed on the Italian Stock Exchange, selected based on their capitalisation value and free float, also considering their industrial sector and the rating assigned. Since 2020, Acea has also formed part of the SE European Multi-Utilities Index, which includes the 15 largest listed multi-utility companies in Europe. The objective of the index is to provide an overview on the level of sustainability achieved by the European companies providing essential public services.
In 2022, Standard Ethics awarded Acea for the "systemic" approach to sustainability model with the following explanation: "The company is consolidating its path in the sustainable management of water loss. It is at the forefront of tackling the challenges linked to the ecological transition. In addition, it is also consolidating specific skills in sustainable finance and managing in an exemplary manner European tenders and the National Recovery and Resilience Plan (PNRR) for technological innovation in order to contain the loss of water resources".
In November 2023 Acea received the MF Best ESG Rating Award, the recognition awarded by Class Agora based on the ratings given by Standard Ethics.
Acea has been included in the 2023 Bloomberg Gender-Equality Index (GEI). The Company obtained a total score of 81.58 (on a scale of 0-100), an increase compared to last year (80.67) and higher than the sector average (73.75) and the global average (72.94).
The Bloomberg Gender-Equality Index (GEI) measures the performance of companies in reference to gender equality across five pillars – female leadership, equal pay, inclusive culture, sexual harassment policies, and pro-women brand – and makes the data available to investors.
Overall, the 2023 Bloomberg Gender-Equality Index (GEI) assessed 485 companies from 45 countries around the world belonging to a variety of industries (communications, finance, utilities, etc.).
In the assessment carried out by the French ESG agency GAIA rating (EthiFinance group), Acea achieved a score of 64/100, essentially in line with a year earlier (62/100). The scores achieved in 2023 as regards the 4 assessment areas were as follows: Governance 76/100, Social 73/100, Environment 90/100, External Stakeholders 80/100. The comparison with the other 50 utility companies considered by the analyst shows Acea to be in line with the benchmark.
The Gaia rating evaluation process is based on the public documents provided by companies as well as direct dialogue with the same; during both of these phases the agency performs data consistency and soundness checks.
During the course of the year, we received ESG assessments on the part of other major operators.
Sustainalytics recognised Acea’s Low risk level, with a score of 19.7, indicating a slight improvement over the Medium risk level and score of 20.1 obtained in 2022, reflecting the constant improvement effort on the part the management.
Lastly, MSCI ESG Rating confirmed its "A" rating (on a scale of AAA (leader) to CCC).
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Acea for World Energy Saving Day
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