SteelAsia Receives 'Very Good' SQS2 Sustainability Rating from Moody's for Sustainable Finance Framework
SteelAsia Manufacturing Corp. obtained a 'very good' SQS2 rating from Moody's for its Sustainable Finance Framework, the highest in the region. This rating supports the company's goal to develop a low-carbon steel industry in the Philippines. The framework includes financing structures and decarbonization initiatives, confirmed by DNV's assessment that its Calaca plant has a carbon footprint nearly 90% lower than traditional steelmaking. SteelAsia aims to produce 3 million metric tons per year of green steel capacity.
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SteelAsia Manufacturing Corp. achieved a 'very good' SQS2 sustainability rating from Moody's, marking the highest rating in the region for its Sustainable Finance Framework. This rating follows a second-party opinion and supports SteelAsia's strategy to develop a low-carbon steel industry in the Philippines.
The company utilizes modern production technologies, renewable energy, and rainwater recycling. Additionally, the independent verifier DNV confirmed that SteelAsia's Calaca plant has a carbon footprint nearly 90% lower than the global average. The company plans to build 3 million metric tons per year of new green steel capacity to reduce reliance on higher-carbon imports.
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