MSCI upgrades VEON to 'AA' ESG Rating

VEON announced that MSCI has raised the Company’s Environmental, Social, and Governance rating to 'AA' from 'A'.

This upgrade positions VEON within the ‘Leaders’ category amongst the 131 telecommunication services companies evaluated by MSCI, demonstrating our commitment to sustainable and ethical business operations.

“Our 'AA' rating from MSCI demonstrates VEON’s success in integrating and implementing a strategy aimed at making a positive societal impact, ensuring ethical governance and contributing to environmental stewardship. This upgrade and our position in the ‘Leaders’ category for our industry reflects VEON's persistent efforts to incorporate sustainable and responsible ESG practices across our operations, raising the bar consistently and with dedication.

“I am particularly pleased to see that VEON has scored above the industry average for labour management, with MSCI noting our focus on employee engagement and satisfaction. The ESG rating agency also named VEON’s exit from Russia as a factor contributing to the rating upgrade. MSCI also noted VEON’s good practices in end user data management, noting that our data security framework is on par with industry peers and features certification to widely recognized data security standards.

“Finally, corporate governance is another area where VEON excelled in comparison to our peers, according to MSCI, with a majority independent Board of Directors. This Board makeup reflects not only globally accepted good practices, but also the fact that VEON has no controlling or majority shareholder,” said Kaan Terzioglu, VEON Group CEO.

VEON’s focus on “4G for all” and digital services resulted in significant improvements in digital and financial inclusion in the 6 markets where our Group companies operate: Pakistan, Ukraine, Bangladesh, Kazakhstan, Uzbekistan and Kyrgyzstan. Our digital operators amplify their positive social and environmental impact, prioritizing inclusive workplace practices and broader initiatives that drive diversity and inclusion, as well as supporting environmental sustainability. VEON remains committed to maintaining high standards in ethical and transparent of governance, serving a broad group of stakeholders.

Source: VEON’s media announcement