Converge MSCI Rating Climbs to ‘AA’ Following Enhanced ESG Practices

Converge ICT Solutions Inc. has improved its Environment, Social, and Governance (ESG) rating to ‘AA’ which signifies that Converge is a “Leader” within its industry in managing ESG risks based on the latest review from global investment research firm MSCI.

According to MSCI’s latest assessment which covered the company’s 2023 data, the upgrade from last year’s average ‘A’ rating reflects the stronger board-level oversight and enhanced auditing of ethics practices within Converge.

Its implementation of a comprehensive data security framework, including robust breach mitigation measures, also contributed to the upgrade.

“Enhancing our ESG practices to align with global best practices has been central to our strategy because we believe this is how we can build a stronger and more sustainable business. Our improved standing shows that we are on the right track, particularly in areas like labor management, governance, and data security,” said Converge Chief Commercial Officer and Chief Sustainability Officer Benjamin Azada.

“We are proud to have our efforts recognized and we remain committed to further advancing our ESG initiatives, especially in topics that matter most to our stakeholders,” he added.

Since the rated period, Converge has further strengthened its ESG efforts, including its refurbishment program for reclaimed modems from churned subscribers. More than 80 percent of the modems it recovered last year were refurbished and reused compared to only about 50 percent in 2023.

Likewise, Converge brought down its network Scope 1 and 2 greenhouse gas intensity from 2.3 to 1.4 tCO2e/petabyte amid its increased use of renewable energy and better energy management.

In addition, the company also showed progress in promoting continuous education among its workforce with its average training hours increasing to 57 hours last year from 33 hours in 2023 as it provided multiple avenues and platforms for employee learning.

Converge SVP and Corporate Compliance Officer Laurice Tuason also said the company introduced several climate adaptation and resiliency initiatives, achieving ISO 22301:2019 certification for its Business Continuity Management System, and extended key risk management and continuity standards to its critical business partners.

Since it began being evaluated by MSCI in 2021, Converge has steadily improved its ESG rating, starting with ‘BBB’ (Average) in 2022, to ‘A’ (Average) in 2023 and 2024, and most recently reaching ‘AA’ (Leader) in 2025.

The company’s advanced standing reflects the company’s continued improvement on data privacy and security, particularly better business practices in these areas and improved business ethics.

MSCI’s ESG Ratings assess a company’s capability to navigate long-term sustainability risks, using a scale from AAA (Leader) to CCC (Laggard). This enables the identification of industry leaders by evaluating their effectiveness in managing these critical issues compared to peers.