FIBER broadband and technology provider Converge ICT Solutions Inc. has earned an upgraded Environmental, Social and Governance (ESG) risk rating, and is now classified as “low risk” based on the recent assessment by ESG and corporate governance analytics firm Sustainalytics.
The company improved its overall ESG risk score to 19.6 or “low risk,” which reflects the reduced level of unmanaged risks it has, from its “medium-risk” rating of 23.4 last year and “high-risk” rating of 30.7 in 2021.
The lower score also indicates a lower likelihood of ESG issues adversely affecting the company’s economic value.
In the said ESG Risk Analysis, Converge was classified as “strong” in terms of risk management, with a score of 54.0, which indicates how well it handles relevant ESG issues through robust programs, policies and practices.
Concerning environmental risks, Converge has shifted to 100 percent clean energy for its Pasig and Pampanga data centers, while relevant infrastructure investments are made to strengthen resilience to natural disasters and manage physical climate risks to its networks.
The ESG Risk Rating has placed Converge in rank 33 out of the 235 telecommunications companies evaluated by Sustainalytics around the globe.