Ignitis Group receives ESG risk rating from Sustainalytics

• Ranks Ignitis Group in top 20% of the 483 Utility companies assessed by Sustainalytics globally 

• Report recognises particularly strong management of material ESG issues 

• Leading the way in green generation in the Baltics 

Ignitis Group, a leading utility and renewable energy company in the Baltic region, announces today that Sustainalytics, a leading independent provider of ESG and corporate governance ratings, research and analysis, has provided the ESG Risk Rating for Ignitis Group as set forth in its ESG Risk Rating Summary Report. 

In the report dated 17th September 2020 Sustainalytics accorded Ignitis Group with an ESG risk rating of 26.5, categorising it as a ‘Medium’ risk. The report quotes the overall management of material ESG risks as strong, highlighting that ESG-related issues are integrated in Ignitis Group‘s business strategy. 

The Report ranks Ignitis Group in the 19th percentile in the global Utilities sector as identified by Sustainalytics. 

The latest ESG rating by Sustainalytics reflects Ignitis Group’s continuous commitment to reducing carbon dioxide emissions to combat climate change and moving towards a more sustainable future. At Ignitis Group, ESG is a pan-organisational priority initiated by the Management Board and overseen by a Sustainable Development Committee which is directly accountable to the board. Ignitis Group’s ESG performance is embedded in the targets set for the Management Board and meeting key ESG goals is included in the Board’s long-term incentive plans.  

A copy of the Summary ESG Risk Rating Report can be found at Ignitis Group’s website www.ignitisgrupe.lt/en/sustainability-activities-and-results. A copy of the full Risk Rating Report is available for purchase from Sustainalytics.  

Darius Maikštėnas, CEO and Chairman of the Management Board of Ignitis Group said: 

“I am really proud that Ignitis Group continues to show progress in strengthening our corporate governance systems and materially reducing our environmental impact as we lead the way in green generation in the Baltics. The ESG Medium Risk Rating published by Sustainalytics demonstrates the continued progress we make on ESG issues and highlights our position in the top quintile of utility companies globally.  

As we work to deliver our strategy to increase our installed green generation capacity to 4 GW by 2030, we are continuing to work hard to improve our ESG processes to reduce risk and increase transparency in everything the company does.”