"Achieving an improved ESG rating that qualifies as low risk was one of our key objectives for this year. Corporate responsibility and risk management are integral to our business, and this exceptional rating from Sustainalytics reaffirms our dedication to creating long-term value while prioritizing the ESG considerations,” said Victor Capitanu, co-CEO at One United Properties.
Previously, in the September 2022 assessment, One United Properties received an ESG risk rating of 20.0, considered borderline low to medium risk. According to Sustainalytics latest report, between 2022 and 2023, One United Properties ESG risk management improved by 29.4%, showcasing a substantial improvement in the robustness of the company’s ESG programs, practices, and policies.
Sustainalytics' ESG Risk Ratings employ a comprehensive approach to evaluate a company's exposure to industry specific ESG risks and its effectiveness in managing them. Utilizing a multi-dimensional methodology that combines management and exposure concepts, this approach provides an absolute assessment of ESG risk, categorized across five levels: negligible (0-10), low (10-20), medium (20-30), high (30-40), and severe (40+).
In the rating process, Sustainalytics identified the following aspects as material to One United Properties: corporate governance, ESG integration in the financial reporting, product governance, human capital, occupational health and safety, bribery and corruption, emissions, effluents and waste, as well as community relations.
The company performed best in the corporate governance, bribery and corruption and ESG integration categories, with all three categories contributing the most to the risk exposure. Consequently, having received a strong risk management score in these three categories, One United Properties underscores its commitment to responsible risk management and strong governance.
The ESG rating is part of One United Properties Sustainability strategy, measured and reported as of 2020. In the company's latest ESG report for 2022, new metrics were introduced to enhance accountability towards stakeholders. Consequently, as of 2022, One United Properties measures its CO2 footprint, gender pay gap, and annual compensation ratio, just to mention a few. Moreover, the company introduced, between 2021 and 2022, several new policies, including a robust whistleblowing policy and a comprehensive remuneration policy.