REN was again lauded in the OEKOM Corporate Rating for its sustainability performance. The B+ rating of REN ensures it keeps the 'Prime' company title, first awarded in 2011.
This accolade, according to the Chief Financial Officer Gonçalo Morais Soares, 'confirms the Company's work over the years to implement the best national and European governance practices.' REN's CFO further states, 'it is a particularly important recognition, taking into account the importance that social and environmental indicators are beginning to have in the financial markets as a competitive factor, placing REN among the socially and environmentally responsible companies that are a potentially more attractive investment.'
The rating places REN at the top of the table alongside one other company of the sector, TERNA, and above REE (B rating), of a total of 159 companies of the sector evaluated by that rating agency. The OEKOM Corporate Ratings range from D- (lowest) to A+ (highest). REN achieved a rating of B+.
According to the OEKOM report, REN was awarded B+ and B in the Social and Environmental indicators respectively, and it attained A and A+ ratings in various components of each of those indicators.
OEKOM is one of the most important international rating agencies for the social responsibility field. This rating agency, headquartered in Germany, evaluates the sustainability performance of companies in certain areas, generally grouped into two areas - social and environmental. The OEKOM rating assesses a universe of about 3,000 companies according to approximately 100 criteria in different social and environmental fields for each sector. The 'Prime' classification means the bonds and shares of that company are a socially and environmentally responsible investment. Only companies classified as 'Prime' are entitled to use the OEKOM Prime Logo, which automatically certifies the top quality environmental and social performance of those companies.
REN - Redes Energéticas Nacionais operates essentially in two core business areas: the very high voltage transmission of electricity and the overall technical management of the Electricity System; and high-pressure transport of natural gas and overall technical management of the Natural Gas System, guaranteeing the reception, storage and regasification of LNG as well as the underground storage of natural gas.
REN also operates in the telecommunications business though RENTELECOM. In this field it provides diverse services, including infrastructures, managed services or consultancy.
Satisfying all quality and safety requirements, REN aims to be one of Europe's most efficient electricity and natural-gas transmission and transportation operators, thereby building value for its shareholders.
For further information please visit our website at: www.ren.pt