Aluminium Bahrain B.S.C. (Alba) said yesterday it has been named at the top of ESG Invest’s Environmental, Social and Governance (ESG) ratings list for the second consecutive year.
The list is assembled as a result of ESG Invest’s measurement of several Arab countries. Over 200 Perfomance Indicators of the quality and quantity of 40 criteria set forth by ESG Invest and derived from International Standards and National Visions are used to compile the score.
Ali Al Baqali, Alba’s Chief Executive Officer, said in a press release that the award reflects the core values of his firm.
“Ranking number ONE by ESG Invest in Bahrain endorses Alba’s sound corporate transparency and stakeholder accountability. We believe that ESG should be the Forward Focus especially as COVID-19 has accelerated the shift towards civic society with a major emphasis on social cohesion, community support and volunteering for the public good. Being one of the blue-chip assets in Bahrain, we remain committed to translate the Kingdom’s Economic Vision 2030 and lead the change in ESG.”
Earlier this year Alba was awarded the Aluminium Stewardship Initiative (ASI) Performance Certification for its ESG practices. The firm was also awarded a Bronze Metal for Corporate Social Responsibility this year as well.
Alba is one of the largest industrial companies in the Middle East and is the world’s biggest aluminium smelter outside the People’s Republic of China. Originally incorporated in 1968, the company is based in Bahrain and 84% of its total workforce are Bahraini nationals. It began operations in 1971 with a 120,000 metric ton annual capacity. Modernization bumped the output up to 450,000 metric tons in 1992. In the spring of 2005, Alba opened Line 5, raising output by 860,000 metric tons per year. In 2019 Alba’s smelter produced 1,365,005 metric tons of primary aluminium.