UAE-based EMSTEEL, one of the region’s largest publicly traded steel and building materials manufacturers, has received a provisional “AA” ESG rating from MSCI, placing it among the top performers in the global steel industry.
The rating highlights EMSTEEL’s strong management of environmental, social, and governance (ESG) risks, particularly its efforts to reduce carbon emissions and promote workforce health and safety. According to EMSTEEL, MSCI’s assessment found the company performing significantly above the global average across most ESG categories.
The rating follows EMSTEEL’s May 2025 launch of its Green Finance Framework, a key pillar of its ESG strategy. Developed with support from ING (Lead Sustainability Structuring Bank) and First Abu Dhabi Bank (Sustainability Structuring Bank), the framework underscores EMSTEEL’s commitment to sustainable finance. ING also served as ESG Rating Advisor for the MSCI evaluation.
EMSTEEL has committed to reducing emissions by 40pct in its Steel Business Unit and 30pct in its Cement Business Unit by 2030 (using 2019 as a baseline), aiming for net-zero emissions by 2050. Initiatives include boosting energy efficiency, integrating renewables, and advancing green hydrogen technologies, aligned with the UAE’s Net Zero 2050 goals.
Headquartered in Abu Dhabi, EMSTEEL has a production capacity of 3.5 mln tons of steel and 4.6 mln tons of cement annually. The group exports to over 70 markets, accounting for 30pct of its sales. The company offers a diverse range of steel products, including wire rod, rebar, heavy sections, and sheet piles.