Rise in Nexi’s Independent ESG Ratings Confirms Industry Leadership
Nexi, the leading European PayTech, has significantly improved its ESG ratings in the 2022 S&P Global Corporate Sustainability Assessment. Its rating has grown to 73, an increase of five points since 2021, confirming Nexi as a top performer in the payments industry. The increase in the score, which also showed strong growth in 2021, demonstrates Nexi’s commitment to ESG issues, which continue to play an increasingly strategic role in the company’s growth.
The most significant improvement in the score is driven by the ‘Environmental’ facet. Nexi’s strong performance in this area is also demonstrated by its recently announced CDP score, which assesses the environmental impact of thousands of companies worldwide. This year, for the first time, Nexi’s rating encompasses additional group geographies. The group received an ‘A-‘score, confirming the 2021 result and highlighting significant progress from a C rating in 2020.
The boosted S&P score in the ‘Environmental’ area is also reflected in Nexi’s initiatives across the business to work towards a more sustainable future. Earlier this year, Nexi announced that it is working with CheBanca! to provide debit and credit cards made of recycled plastic recovered from the ocean. More recently, Nexi launched its Planet Care service, which provides Nexi cardholders with information on the impact their purchases are having on the environment, helping them to play an active role in reducing this impact.
Nexi also continues to make progress across the ‘Social’ and ‘Governance’ areas. The key ‘Social’ improvements are powered by improved customer satisfaction measurement and philanthropic activities. Nexi’s enhanced ‘Governance’ score was principally attributable to increased transparency and data disclosure.
Saverio Tridico, Head of Corporate and External Affairs at Nexi Group, said: “Nexi’s improved ESG ratings demonstrate our continued focus to put these issues at the centre of our business strategy. We will look to build on this achievement with our new ESG strategy, which will help us continue to further improve our processes and ensure groupwide alignment.”
At its 2022 Capital Markets Day, Nexi presented its wide-ranging sustainability plan for responsible business. Within this plan, it outlined the following ESG-related commitments:
- Supporting the digitization of micro businesses, SMEs and Public Administration through its advanced digital product portfolio.
- Fighting climate change, with its commitment to being Net Zero by 2040, which has been approved by the Science Based Targets initiative. This is in addition to being climate neutral from 2022, and its efforts to encourage greener consumption behaviours.
- Further investment in its people and ensuring proper gender and minority representation, promoting an inclusive culture with best in-class governance.
These independent ratings are just one demonstration of Nexi’s ongoing commitment to ESG. This year, Nexi Group also joined the UN Global Compact, the world’s largest corporate sustainability initiative.
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