The analysis is made by The Governance Group (TGG), an independent research and advisory firm based in Oslo, Norway, providing expertise on environmental, social and governance (ESG) risk and compliance. Every year, TGG publishes the report “ESG 100”, where the 100 largest companies on Oslo Stock Exchange are ranked according to how well they report on ESG.
Together with renewable power producer Scatec, Hydro is the only company on the list to receive an A+ grade. According to TGG, grade A represents “Excellent reporting in line with best practice. Good description of material issues and relevant results. Clear strategy and specific, quantifiable targets.”
“This is a recognition of the strong emphasis on ESG reporting Hydro has had over time. We see that accountable and credible reporting on environmental, social and governance issues gets increasing attention from our stakeholders, from financial markets and investors to media, legislators and society at large,” says Hydro’s CFO Pål Kildemo.