(Finance) – Standard Ethicsan independent rating agency based in London and focused on sustainability, has updated its Corporate Standard Ethics Rating (Corporate SER) at 30 major European utilities and of the 15 largest European multi-utilities.
Analysts say the energy sector, like the financial sector, has been the sector most affected by regulation and guidance activities regarding Sustainabilityespecially in the environmental field. Stability of opinions is expected in the short term, observing a general alignment with international indications and an adjustment with respect to the emergencies resulting from the geopolitical crises of the last three years.
It is possible that new technological developments will produce innovative solutions to meet the growing demand for energy, shifting the challenge to social issues to make it an increasingly accessible resource. Overall, European utilities and multiutilities continue to be part of the sector that aligns most closely with the indications and recommendations of Sustainability of the UN, OECD and EU.
Over the last year, Standard Ethics has constantly monitored European companies operating in these sectors and recorded some movements: Fortum And United Utilities Group have maintained their position as the most sustainable companies in the sector, both with an “EE+” rating, adding to the 77% of utility companies with a Sustainable Grade. 11 of the 30 companies analyzed have an “EE” rating, including Ternawhich obtained a Positive Outlook at the end of 2023, making an upgrade predictable in the short term.
Ten of the utilities assessed have an “EE-” rating, with the French energy group Engie which received a Positive Outlook just last month. Endesawhose ‘E+’ rating was confirmed in July 2024, makes up 6 of the 30 ‘E+’ rated companies. Only one company (Gelsenwasser) has a Not Sustainable Grade.
In the multiutility area you will find a recent reconfirmation of the “EE+” rating of Acea.+
Looking at the others Italian utilities, Snam and Enel have an “EE” rating, Italgas an “EE-” rating, ERG an “E+” rating with a Positive Outlook. As for the multiutility, A2A has an “EE+” rating, Hera an “EE-” rating, Iren an “E+” rating
THE rating equal to or higher than EE- are Sustainable, those “E+” and “E” Not Fully Sustainable, those equal lower than “E-” Not Sustainable.