(Alliance News) - Garofalo Health Care Spa announced Wednesday that Standard Ethics Ltd, an independent extra-financial sustainability rating agency, has raised its long-term ESG rating to Investment Grade "EE+" - very strong - from the previous "EE" - strong.

The short-term rating is confirmed at the current "EE"" level, also Investment Grade.

"For GHC, covered by the Standard Ethics rating as of October 2020, this is the second upgrade in ESG rating in the last 3 years. Underpinning the rating upgrade, Standard Ethics highlighted GHC's continued focus on innovation and the progressive strengthening of its ESG framework with the identification of medium- and long-term objectives aligned with voluntary UN, OECD and EU guidance," the company explained in a note.

"Also highlighted by Standard Ethics are the long-term incentive plan, linked to sustainability ratings and energy and environmental performance, and the behaviors put in place to better protect the interests of minority shareholders, such as the waiver of the increased vote by the controlling shareholder."

GHC trades in the green by 1.1 percent at EUR4.47 per share.

By Claudia Cavaliere, Alliance News reporter

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