Ittihad International Investment LLC, a diversified investment conglomerate based in Abu Dhabi, has been awarded a provisional ‘AAA’ ESG rating from MSCI, placing the company among the most sustainable industrial conglomerates globally. This ranking positions Ittihad within the top five of the 36 industrial conglomerates in the MSCI All Country World Index (ACWI), making it one of the highest-rated UAE-based industrial groups in 2024.
Ittihad’s portfolio covers four primary sectors: Consumer Goods Manufacturing, Infrastructure and Building Materials, Business Services, and Healthcare Services. Its operations span from producing essential materials, like copper rods and cement, to managing infrastructure and healthcare services. The ‘AAA’ rating reflects Ittihad’s dedication to aligning with international sustainability standards, demonstrated by a strategic focus on managing environmental, social, and governance (ESG) risks across its divisions.
Ittihad’s CEO, Amer Kakish said, “We are immensely proud to receive a provisional ‘AAA’ ESG rating from MSCI, reflecting our commitment to the highest standards of corporate governance. This achievement aligns our operations with local and global efforts to drive environmental and social progress while creating sustainable value for our stakeholders. It marks a significant milestone in our sustainable journey, providing a platform for further sustainable growth in the coming years.”
Aligned with the UAE’s ‘Operation 300bn’ initiative to diversify and expand the industrial sector, Ittihad contributes 4% of the UAE’s non-oil manufacturing exports, with products reaching over 50 countries.
According to Qais Saif, Ittihad’s ESG and Sustainability Director, the company has integrated ESG principles across all subsidiaries, leveraging advanced technologies and focusing on workforce development. “This achievement is a testament to our dedication to advancing our ESG practices and governance,” Saif remarked. “By harnessing cutting-edge technologies and investing in our people, we are committed to driving sustainable growth and making a meaningful impact.”
This rating follows the development of a comprehensive ESG Framework and the release of Ittihad’s first Sustainability Report in 2023, underlining the company’s commitment to balancing profitability with sustainable practices for the benefit of its stakeholders and the environment. Founded in 2008, Ittihad employs over 8,000 people from 57 nationalities and focuses on long-term investments in the UAE, the Gulf Cooperation Council (GCC) markets, and internationally.
