Keppel Corp announced yesterday that it has been upgraded to a triple-A rating in the Morgan Stanley Capital International (MSCI) environmental, social and governance (ESG) ratings.

The ratings aim to measure companies' resilience to long-term ESG risks and their ability to manage those risks relative to their peers. Companies are rated AAA to CCC.

Keppel was identified as average in issues of corruption, instability, health and safety. However, it was rated an "ESG leader" for corporate governance, labour management and opportunities in clean technology.

With this rating, Keppel ranks among the top 11 per cent of industrial conglomerates, based on ESG criteria, in the MSCI All Country World Index, a global equity benchmark which covers more than 3,000 stocks.

Mr Loh Chin Hua, chief executive of Keppel Corp, said: "We are encouraged that Keppel's sustainability efforts have been internationally recognised. We have adopted sustainability as the core of our strategy, and we carefully consider ESG issues in our strategic and investment decisions.

"We firmly believe that a company that is aligned with the global sustainable development agenda can not only enhance its social licence to operate, but also improve the sustainability, resilience and competitiveness of its business."