NMDC Group achieves AA ‘leader’ rating from MSCI

• Rating driven by NMDC’s achievements across ESG factors including decarbonization, energy transition, sustainability projects, human capital, operational safety, and technology proliferation
• AA rating – one of the highest received within the UAE’s Oil & Gas and Energy sectors

Abu Dhabi, UAE: 15 October 2024 – NMDC Group, a global leader in engineering, procurement, construction, and marine dredging, has received an AA ‘leader’ rating, for its commitment to Environmental, Social, and Governance (ESG) from MSCI, a leading global provider of ESG indexes.

NMDC’s leader rating has been driven by several key performance areas where the Group has made significant strides in its business to build robust ESG considerations across its operations.

Recognizing the need to address climate change, NMDC has actively participated in the development of low-carbon energy projects, including wind farms and hydrogen production. The group has also been quick to incorporate the latest fit for purpose technologies to address climate change, where it actively engages in carbon capture and storage projects, aiming to reduce emissions in the Oil & Gas sector.

NMDC’s commitment extends to adapting infrastructure to climate change impacts and incorporating green standards and sustainability regulations into projects, using environmentally friendly materials and construction methods.

Alongside this, NMDC Group plays a prominent role in the renewable energy sector, particularly wind power, where it actively participates in the development, construction, and maintenance of wind power facilities, and facilitates the transition of energy companies to clean and renewable sources.

As part of its ESG advances, NMDC also has worked relentlessly to build and retain human capital by investing in training and development as well as having stringent workplace safety initiatives in place. The Group works in major community outreach projects such as beach cleanups and mangrove restoration.

H.E. Mohamed Thani Murshed Al Rumaithi, Chairman of NMDC Group, said: “Attaining an AA rating in the Oil & Gas and Energy sectors is a substantial achievement, and we are incredibly proud to receive this recognition for our efforts to date. Sustainability is at the heart of our operations, and we have been committed to playing a key role in driving the UAE’s ambitions and Net Zero agenda, in addition to actively supporting our clients in realizing their goals. We look forward to continuing to embed sustainable practices across our operations and to providing innovative solutions as we collectively work with our partners to build a better future.”

Eng. Yasser Zaghoul, CEO of NMDC Group, said: “Our AA ESG rating reflects NMDC Group’s deep commitment to driving sustainable solutions in vital areas such as energy, infrastructure, and reclamation—key elements in advancing the energy transition, decarbonization, and environmental restoration. Sustainability starts from within, and at NMDC, we have taken significant steps to build human capital, improve safety, embrace innovative technologies, and strengthen corporate governance. This milestone is a testament to our progress and a platform for future actions that will continue to deliver benefits for both people and the communities we serve. We are proud to be leading the path toward a more resilient and sustainable world.”

MSCI ESG Ratings aim to measure a company’s management of financially relevant ESG risks and opportunities. It uses a rules-based methodology to identify industry leaders and laggards according to their exposure to ESG risks and how well they manage those risks relative to peers. Its ESG Ratings range from leader (AAA, AA), average (A, BBB, BB) to laggard (B, CCC).