TOP GLOVE CORPORATION UPGRADED TO ‘A’ IN MSCI ESG RATINGS

The improved ‘A’ rating is a reflection of Top Glove’s commitment

to sustainability and corporate responsibility

SHAH ALAM, Friday, 26 July 2024 Top Glove Corporation, the world’s largest manufacturer of gloves, is pleased to announce that it attained an ‘A’ in the MSCI ESG Ratings, notching another milestone in its sustainability journey. This is an improvement over last year’s ‘BBB’ rating and marks its highest achievement since it first participated in the ratings in 2019.

“We are honoured to receive an ‘A’ in the MSCI ESG Ratings,” said Top Glove Managing Director, Mr Lim Cheong Guan. “This achievement reflects our ongoing dedication to sustainability and corporate responsibility. It also validates our efforts in the Environmental, Social and Governance (ESG) space, providing investors with a reliable tool for assessment and decision-making. We sincerely thank our team and stakeholders for their hard work and unwavering support.”

Top Glove has continually made significant strides in managing its ESG risks, particularly in the area of social practices. Since its first participation in 2019, when the Group scored a ‘BB’ rating, it has consistently demonstrated improvements, which culminated in an ‘A’ rating in 2024.  Moving forward, the Group is working on enhancing its disclosure of talent retention initiatives in its Sustainability Report, towards further strengthening its sustainability practices.

The MSCI ESG Ratings aim to measure a company’s management of financially relevant ESG risks and opportunities. Assessment is carried out via public information availability on ESG matters. Investors can use ESG ratings for fundamental or quant analysis, portfolio construction and risk management, engagement and thought leadership, and benchmarking for index-based products. The highest rating obtainable is an “AAA’.

The MSCI ESG Ratings is a critical benchmark that evaluates a company’s resilience to long-term, financially relevant ESG risks. Top Glove’s improved rating demonstrates its robust efforts to enhance sustainability practices, social initiatives, and governance structures. For more information about Top Glove’s sustainability initiatives, please visit https://www.topglove.com/sustainability.

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About Top Glove Corporation Bhd

Top Glove Corporation Bhd is listed on the Bursa Malaysia Stock Exchange Main Board and Singapore Exchange Mainboard. It is also one of the component stocks of the FBM Top 100 Index, FBM Emas Index, FBM Hijrah Syariah Index, FBM Emas Syariah Index and the Dow Jones Sustainability Indices (DJSI) for Emerging Markets. Top Glove has an established corporate culture and good business direction of producing consistently high quality, cost efficient gloves. Top Glove has over 2,000 customers worldwide and exports to more than 195 countries. 

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