S&P upgrades Fluidra's ESG rating from a 69 to a 71
April 27, 2022-
The rating agency highlights Fluidra's improvement in Environmental and Social matters, and maintains its rating in Corporate Governance.
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The improvement in the rating reflects the company's commitment to ESG, as reflected in the Responsibility Blueprint.
Fluidra, the global leader in equipment and connected solutions in the pool and wellness sector, has achieved a rating of 71 in S&P's ESG Evaluation, improving on its previous score of 69.
On the environmental front, S&P highlights Fluidra's efforts to reduce its carbon footprint throughout the value chain, in line with the commitment to neutrality by 2050. S&P also highlights the company's commitment to increase its offering of products that are more efficient in water, energy and chemicals consumption.
On the Social side, S&P highlights that Fluidra has significantly improved all of its health and safety metrics in 2021 and has also shown a strong commitment to positively impact the communities in which it operates.
According to S&P, Fluidra maintains corporate governance standards in line with the robust Spanish system and stresses that recent changes in the Board of Directors have improved its independence and diversity.
“Fluidra’s ESG rating reflects the track record of its sustainable product innovation, adequate governance, as well as evolving sustainability strategy in an industry moderately exposed to social and environmental risks”, highlights the document released by S&P.
Firm commitment by the company to ESG
Fluidra presented its full ESG Master Plan, the Responsibility Blueprint, at its last Capital Markets Day for the 2020–2026 period. With regard to environmental issues, Fluidra has committed to becoming a carbon neutral company in terms of Scope 1 and 2 by 2027 and of Scope 3 before 2050. Fluidra has also committed to building up the sales of its products currently classified as ESG friendly from 50% to 80% by 2035.
Insofar as social matters are concerned, Fluidra is focusing on gender equality, with a commitment to reach the net wage gap by 2024. Lastly, governance is also a core part of the company’s road map, for which an analysis is being made of ESG risks that will be in line with the best practices set by the Task Force on Climate-related Financial Disclosures (TCFD), which provides guidance designed to improve investors’ understanding of the impact of climate risks on different corporations.
During 2021 Fluidra was recognized for its efforts to improve its environmental, social and good governance performance, improving the score obtained in ratings such as CDP, Clarity AI or Sustainalytics. It is also part of the FTSE4Good Index Series, a benchmark index in terms of sustainability.