Security Bank advances in sustainability with ESG ratings upgrade and ATRAM inclusion

Rating agency Morgan Stanley Capital International (MSCI) upgraded the Environmental, Social and Governance (ESG) rating of Security Bank Corporation from B to BB for its success in improving overall corporate governance and improvements in customer satisfaction.

The upgrade can be attributed to Security Bank’s strong governance and risk management. According to MSCI, “the Bank’s mechanisms for addressing customer issues and complaints ranks one of the best among industry peers.” Similarly, the Bank was ranked to have a “lower risk of security and data breaches when compared with peers.”

MSCI ESG Ratings measure a company’s resilience to long-term ESG risks. Organizations are scored on an industry-relative AAA-CCC scale across the most relevant key issues based on a company’s business model. The ratings look at publicly available data to form its assessment.

“This recognition from MSCI lets us know that we are on the right track in our efforts to achieve customer-centricity. We will continue to get even better as we live out our mission to enrich lives, empower businesses, and build communities sustainably through financial service excellence,” says Nikki Lizares, Sustainability Head at Security Bank.

SECB included in ATRAM ESG Fund

ATR Asset Management (ATRAM) included Security Bank stock in its Sustainability Development Goal (SDG) Fund portfolio. This inclusion comes after ATRAM’s data gathering session where it reached out to over eighty-eight publicly listed companies with a robust sustainability framework and an effective roster of initiatives.

The ATRAM SDG Fund aims to achieve capital growth by investing in companies who contribute to positive environmental and social change.

“We adopted our Environmental, Social and Risk Management System (ESRMS) in 2021 to better manage environmental and social risks. In 2022, we committed to discontinue financing the construction of new coal-fueled power generation plants, with a view to exit funding coal power generation by 2033. In 2023, the Bank’s Board of Directors approved our Sustainable Finance Framework which establishes principles to guide our lending, investment, and procurement practices. We continue to work to strengthen our sustainability commitments to further align with the Philippine NDCs and the evolving needs of our country, our customers, and the communities we serve,” adds Nikki.

For more information on Security Bank’s sustainability journey, visit www.securitybank.com/sustainability.

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