14 Jul ASTM: Sustainability Rating upgraded to “EE”
The independent rating agency Standard Ethics has upgraded ASTM’s rating from “EE-” (Adequate) to “EE” (Strong).
The new opinion on the Group’s responsible and sustainable behaviour is considered fully “investment grade” by investors and was motivated by the fact that, in the last few months, the industrial and market transaction which led ASTM to incorporate the subsidiary SIAS, a holding company in the motorway concessions sector, was successfully completed. According to Standard Ethics, this transaction led to greater efficiency in governance, more effective management of ESG (Environmental, Social and Governance) risks, better coordination of controls on activities relating to motorway concessions and related industrial activities. Additional improvements that will be implemented during 2020. ASTM has also strengthened its strategy to combat climate change by drawing inspiration from TCFD (Task Force on Climate-related Financial Disclosures) recommendations.
Standard Ethics has also reaffirmed the positive outlook assigned to ASTM, forecasting a Long-Term Expected SER over 3-5 years of “EE+” (Very strong).
Umberto Tosoni, CEO of ASTM, stated, “This recognition is important. It rewards the commitment made by the ASTM group in implementing business policies inspired by the principles of transparency and fairness. To us, being sustainable means creating value for all our stakeholders in the medium to long term. It is a priority goal for the company and, on this, we want to continuously implement our industrial policies and our performance”.